Mumbai's Housing Transformation: CREDAI-MCHI's Groundbreaking EODR 2.0 Event

Mumbai's Housing Renaissance: A Vision for a Modern City

In a monumental stride toward the revitalization of Mumbai’s aging housing landscape, the CREDAI-MCHI’s Ease of Doing Redevelopment (EODR) 2.0 concluded today at the grand Jio World Convention Centre. The event brought together over 3,000 housing societies and more than 40 of the city’s most reputed developers. This gathering wasn’t just a showcase of architecture and design—it was a bold declaration of Mumbai’s potential for urban renewal.

A Call for Collaborative Growth

The conclave's success lay in its ability to unite diverse stakeholders: legal experts, architects, urban planners, and policymakers, all focused on a common goal—creating a transparent, sustainable path for redevelopment in Mumbai. At the heart of the event was an impassioned speech by Shri Sanjeev Jaiswal, the Vice President and CEO of MHADA. He emphasized the importance of a collaborative approach between the public and private sectors in addressing the city’s pressing land constraints and the urgent need to modernize outdated housing structures.

"Redevelopment isn’t just about rebuilding with cement and steel. It’s about delivering on time, creating clear frameworks for FSI (Floor Space Index), and ensuring tenant protection," Jaiswal said. He also pointed out several crucial legislative amendments, including Section 91A, which empowers MHADA to take over stalled projects, and Section 79A, which guarantees fair compensation for landowners involved in cess building redevelopment.

Jaiswal’s message was clear: redevelopment must focus on viability, transparency, and speed, not just the physical materials used.

The Key to Sustainable Redevelopment

Boman Irani, President of CREDAI National and CMD of Rustomjee Group, shared valuable advice with the societies present. He encouraged them to prioritize developer intent and track records over the allure of flashy offers. "The best offer is not always the highest offer; it’s the one that is sustainable and honest," Irani said. He stressed the importance of choosing a solid legal team and a project management team that could be trusted to deliver on time, warning that constant delays only add to the risks involved.

Echoing this sentiment, Domnic Romell, President of CREDAI-MCHI and Director of Romell Group, reminded attendees that redevelopment should be driven by necessity, not greed. "Demanding excessive bank guarantees in a RERA-monitored environment is outdated. Understand the true value of your 35% fungible FSI, and always set realistic expectations," he advised.

Dhaval Ajmera, Secretary of CREDAI-MCHI and Director at Ajmera Realty & Infra, also added his voice to the conversation. "With 40+ developers and over 3,000 societies participating, EODR 2.0 is not just an exhibition; it’s an engine of empowerment," Ajmera concluded.

Economic Potential: A City on the Brink of Transformation

The event also served as a testament to the massive economic opportunity within Mumbai’s redevelopment sector. With over Rs 80,000 crore (around Rs 800 billion) worth of housing stock poised for transformation, EODR 2.0 reaffirmed Mumbai’s readiness for inclusive, planned growth.

Organized by CREDAI-MCHI, the apex body for developers across the Mumbai Metropolitan Region (MMR), this conclave marks a defining moment in the city's journey toward a modern, vibrant housing infrastructure.

About CREDAI-MCHI

CREDAI-MCHI represents more than 2,200 developers across the MMR and is a key part of CREDAI National, which connects over 18,000 developers across India. The organization champions ethical, transparent real estate practices and plays a pivotal role in shaping housing policies aligned with the Housing for All vision.