August 15, 2025: Mumbai’s real estate sector received a strong push for faster, technology-led redevelopment from Maharashtra Chief Minister Devendra Fadnavis, who called for global best practices to transform the city’s urban landscape. Speaking at the Change of Guard ceremony of CREDAI-MCHI at Jio World Convention Centre, Fadnavis emphasised that Mumbai’s redevelopment vision must match the speed and scale of international benchmarks.
“I still remember when I first attended an MCHI event as Chief Minister in 2015. At that time, we discussed ‘Ease of Doing Business,’ and I recall someone saying that even completing processes in one year shouldn’t make us content. Over the years, we have worked extensively with CREDAI-MCHI to improve business ease in Mumbai, and the World Bank has appreciated our efforts in its reports. Still, I agree we must do more,” Fadnavis said.
He added, “Today, Mumbai is undergoing a massive transformation—be it the BDD Chawl redevelopment, where residents living in nearly century-old 160 sq. ft. homes are now being given 500 sq. ft. apartments, or the scale of slum and cluster redevelopments that are opening up new opportunities for the real estate sector. This is Asia’s largest urban renewal project, and by 2029, the entire BDD redevelopment will be complete. However, to make Mumbai slum-free and truly world-class, we must bring in the latest global construction technologies—where even 80-storey buildings are completed in 120 days—so that our projects don’t span generations.”
At the event, Sukhraj Nahar, Chairman of the Nahar Group, was appointed the 18th President of CREDAI-MCHI for the term 2025–2027. Unveiling Mission CARES—Compassion, Affordability, Reforestation, Empowerment, and Skilling—Nahar said, “Our sector has always built Mumbai’s skyline. Now, we must also build its soul… ensure every home is accessible and dignified.”
Outgoing President Domnic Romell reflected on his tenure, stating, “Over the last two years, we’ve set the stage for deeper collaboration… Mission CARES is the natural evolution of that journey, ensuring growth and responsibility go hand in hand.”
Outgoing Secretary Dhaval Ajmera added, “We have always been builders; now we choose to be healers too… development is measured by dignity, equity, and sustainability.”
The city’s real estate community remains focused on partnering with the government, leveraging cutting-edge technologies, and advancing policies that can fast-track redevelopment, make housing more affordable, and create a truly world-class Mumbai.
