“Housing - New Vision” Summit hosted by CREDAI - MCHI & ZEE24Taas

Mumbai University’s Convocation Hall, on Wednesday (July 5),witnessed a first of its kind program, on affordable housing. The event organised by CREDAI-MCHI and powered by Zee 24 tass and DNA, had every name under one roof who matter in real estate. Chief Guest Hon’ble Chief Minister Devendra Fadanvis, and his team of officers from housing department, Urban Development, Land records, and Municipal Commissioners were present for the Summit.  

The day long even had more than half a dozen panel discussions and equal number of presentations by banks, consultants and allied industries on how to make houses affordable. Dharmesh Jain, President of CREDAI-MCHI applauding the work done by Chief Minister Fadnaivs in the  real estate sector said, "The last one year in real estate has been the biggest change year. It is refreshing to see somebody (Devendra Fadanvis) wanting to implement change on the ground. Normally a politician would want files to come to him, but he's one person who delegates and instead his attention is on policy level.”

Jain even suggested that MMR (Mumbai Metropolitan Region) be called MER (Mumbai Economic Region) because highest investment on infrastructure is taking place in MMR region and requested the CM, that a special policy be made for MMR, “a 90-day policy.”  

Praising the Mumbai Municipal corporation’s  ‘Ease of doing business’Jain claimed that the real estate sector in Mumbai has benefited so much that the same be implemented across  all corporations in MMR. He also said that chapters of CREDAI from different cities in the country keep asking him to send them Mumbai model, so that same can be implemented there.

He further requested the government that all taxes and premium need to be all inclusive at 25 per cent. “In last two years we have seen an increase in taxes, which has led to drop in stamp duty and MCGM collection. The government should help them and real estate will work shoulder to shoulder with the government,”said Jain. 

The Chief Minister took all his points into consideration and he claimed that in last 2.5 years the government’s focus has been on Ease of Doing Business, and to get rid of corruption he has started getting rid of tables needed for passing files. “We are focusing on digitization and decentralisation. There hasn't been any other government in this state that has been adopting policies and even modifying them.

Ease of Doing Business in other 

Municipal Corporation has also started and our aim is to take it even to councils,”said Fadnavis.

CM also clarified that his government is taking proactive steps on orders from the courts that are not in favour of real estate industry. “On stay orders in Mumbai for carrying construction, we have filed an affidavit in the court and we are trying to get these stays lifted. But also we are looking for solid waste management issues, for a long term solution.” 

The CM even went a step ahead, on helping the real estate industry, he said, “When real estate will accelerate, employment will be generated, and hence I am formulating an empowered committed, including BMC Chief, Secretary UḌD I, II , Revenue & housing secretary. This should benefit the government and during the discussions of this committee affordable housing should be discussed.” 

Developers even asked the CM on the new law Real Estate Regulatory Act, to which CM reacted that, RERA is headed by someone who knows that regulator is not to stop but to facilitate. We have this habit of fearing anything new, but then we adapt and move ahead. RERA is better than demonetisation to handle, it didn't come all of a sudden, instead we all knew that it was coming. This is an opportunity to do clean business. The culture is changing, because of digitisation, and there's a competition between who will have a good work culture, the government or developers and we will beat you in this. Remove all your fears about RERA.” 

Mayur Shah, President Elect, CREDAI-MCHI, satisfied with the day long summit claimed that achieving affordable housing  in MMR is the main objective behind the summit, issues that were discussed were land, funding of the project, scheme available on affordable housing, all of it was discussed and how to bring affordability in MMR, and via the panel discussions, challenges were brought to the fore of the Chief Minister, Secretaries, and all hurdles were discussed. 

He further said, “A flat has 30 to 35 per cent of taxes, we told the government not to burden the real estate sector and CM has assured the same by formulating the committee.”

Municipal Commissioner Ajoy Mehta got a standing ovation from the devloper fraternity for implementing Ease of Doing Business. Over this warm welcome Mehta said, "When we started computerisation wasn't on our mind it was re-engineering the system. We changed the mindset and I keep telling other Municipal Commissioners this, that we need to look at the one coming for permission as client not as someone whom we want to regulate. Now is the time to deregulate and demolish regulations which have become redundant.”

The highlight was the last session with the exuberant presence of Gautam Chatterjee, Chairman, RERA who urged developers to register on MahaRera website at the earliest and not to fear RERA. For any doubts, developers can directly approach Rera authorities as they are here to act as a facilitator for the Real-Estate industry. He also informed that FAQs on MahaRera website provide answers to most of the questions, just refer them.