In a significant step towards revitalising Mumbai’s ageing housing stock, CREDAI-MCHI successfully concluded the Ease of Doing Redevelopment (EODR) 2.0 at the Jio World Convention Centre. The event witnessed an impressive turnout, bringing together over 3,000 housing societies and more than 40 renowned developers, along with legal experts, architects, urban planners, and policymakers.
At the forefront of the conclave was Shri Sanjeev Jaiswal, I.A.S., Vice President and CEO of MHADA, who stressed the critical role of public-private partnerships in addressing land scarcity and upgrading the city’s outdated residential blocks. “Redevelopment is not just about reconstruction—it’s about timely delivery, clarity on FSI, and tenant protection,” Jaiswal remarked.
He also spotlighted key legislative changes, including Section 91A, empowering MHADA to take over stalled projects, and Section 79A, which ensures fair compensation for landowners in cess building redevelopment. Jaiswal emphasised that viable, transparent, and swift execution should define responsible redevelopment—not just materials and machinery.
The conclave also featured live consultations, providing societies with practical insights into legal, financial, and technical aspects of redevelopment.
CREDAI National President and CMD of Rustomjee Group, Boman Irani, urged housing societies to prioritise developer credibility over high-value offers. “The best deal is the most sustainable one. Choose a strong legal and project management team, then trust the process. Delays only amplify risks,” he said.
Domnic Romell, President of CREDAI-MCHI and Director of Romell Group, called for realistic expectations. “Redevelopment stems from need, not greed. With RERA oversight, demanding large bank guarantees is outdated. Know the value of your 35% fungible FSI and avoid getting swayed by misinformation,” he stated.
Dhaval Ajmera, Secretary of CREDAI-MCHI and Director at Ajmera Realty & Infra (I) Ltd., highlighted the event’s impact. “With 40+ developers and over 3,000 housing societies participating, EODR 2.0 is more than an exhibition—it’s an empowerment platform,” he said.
The event also underscored the scale of Mumbai’s redevelopment opportunity. With housing stock worth over Rs 80,000 crore awaiting transformation, EODR 2.0 reaffirmed the city’s readiness for inclusive and well-planned growth.
Source: Construction World
