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CREDAI-MCHI's Ease of Doing Redevelopment 2.0 concluded on April 12 at Jio World Convention Centre with over 3,000 housing societies and 40+ developers participating. Key highlights included live consultations, expert workshops, and policy discussions focused on stalled projects, legal reforms, and FSI clarity. MHADA's Sanjeev Jaiswal emphasized the impact of Section 91A and 79A amendments. Industry leaders advocated trust, transparency, and realistic expectations. MahaRERA's new tracking portal was also unveiled to monitor redevelopment progress. The event marked a paradigm shift in Mumbai's approach to urban renewal, empowering societies with tools and partnerships to rejuvenate over 16,000 aging buildings.
The second edition of CREDAI-MCHI's Ease of Doing Redevelopment (EODR 2.0) concluded successfully at the Jio World Convention Centre, marking a significant step forward in Mumbai's urban renewal efforts. The event brought together over 40 leading developers, more than 3,000 housing societies, and numerous stakeholders, including legal experts, urban planners, architects, and policymakers, solidifying EODR 2.0 as Mumbai's premier redevelopment platform. Advertisement
Shri Sanjeev Jaiswal (I.A.S., Vice President & CEO, MHADA) emphasized the critical need for robust public-private partnerships to revamp Mumbai's aging housing stock. He stated: "Mumbai's landlocked nature makes land availability a perpetual challenge. The recent amendment to Section 91A, empowering MHADA to take over stalled projects, is both timely and necessary. Compensation to landowners, long a hurdle in cess building redevelopment, is now addressed with fair provisions under Section 79A. Redevelopment is not merely about constructing new buildings-it's about viability, transparency, and timely delivery. A clear FSI framework and honest communication are key to safeguarding both tenant rights and project feasibility."
The amendment to Section 91A has sparked optimism among societies whose projects have long been stuck due to lack of financing or developer exits. The provisions under Section 79A aim to standardize compensation terms and fast-track approvals, offering much-needed legal clarity. According to Maharashtra Housing Department data, more than 16,000 buildings in Mumbai are over 30 years old, many of them marked unsafe-making this policy intervention especially timely.
The event featured active participation from over 3,000 housing societies, engaging in live consultations with developers and consultants. These sessions provided comprehensive guidance on legal advice, financial planning, design strategies, and execution models, enabling societies to proceed with clarity and confidence.?
Boman Irani, President of CREDAI National and CMD of Rustomjee Group, highlighted the importance of trust and due diligence: 'There is a world of difference between the highest offer and the best offer. Societies must look beyond numbers-focus on a developer's intent, track record, and financial strength. Redevelopment is a collaborative journey. Once your committee and consultants are appointed, trust them. Choose a transparent PMC and competent legal counsel, but avoid stalling progress by being overly cautious. This is a high-risk sector-only partnership and open dialogue can turn your dream home into reality.'
Domnic Romell, President of CREDAI-MCHI and Director of Romell Group, noted: "Redevelopment is driven by need, not greed. In today's RERA-regulated era, the demand for excessive bank guarantees is both outdated and unnecessary. All funds are strictly monitored via escrow accounts. Understand your entitlements, such as the 35% fungible FSI, and make informed decisions with the right guidance. Let us move away from unrealistic expectations and outdated norms-redevelopment must work in the best interest of the residents."
To this end, the Maharashtra Real Estate Regulatory Authority (MahaRERA) recently launched a web portal specifically designed to track redevelopment progress and developer compliance in real-time-an effort applauded by CREDAI-MCHI during the conclave. Societies were encouraged to utilize digital tools for transparency and accountability.
Dhaval Ajmera, Secretary of CREDAI-MCHI and Director at Ajmera Realty & Infra (I) Ltd., added: "EODR 2.0 is about empowerment. With 40+ reputed developers and 3000+ societies registered, we're simplifying the process and building bridges of trust. This platform ensures that societies are equipped with the knowledge and support needed to transform their old structures into safe, modern homes."
More than just a networking platform, EODR 2.0 included workshops on RERA compliance, dispute resolution mechanisms, architectural innovations for space optimization, and sustainability in redevelopment. There was also an expert legal panel discussing how tenants can safeguard their interests during the redevelopment process, including registration of agreements, timelines for possession, and exit clauses.
EODR 2.0 signaled a paradigm shift in the way Mumbai approaches housing renewal. Not only were problems addressed, but viable solutions, partnerships, and real-time tools were provided to societies ready to begin their transformation journey.
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