In an initiative to facilitate the redevelopment of housing societies across Mumbai, CREDAI-MCHI, the apex body of real estate developers in the Mumbai Metropolitan Region (MMR), has announced the first-ever exhibition titled ‘Ease of Doing Redevelopment’ (EODR). The exhibition, to be held on Saturday, September 28, 2024, aims to bring together key stakeholders to simplify and expedite the redevelopment process, offering housing societies an exclusive platform to directly interact with leading developers and Project Management Consultants (PMCs).
Supported by the Brihanmumbai Municipal Corporation (BMC), Maharashtra Housing and Area Development Authority (MHADA), and the Slum Rehabilitation Authority (SRA), the exhibition promises to be a comprehensive solution for housing societies looking to navigate the complex landscape of redevelopment.
The exhibition will showcase over 40 leading developers like Rustomjee, Adani, Kolte Patil, Puravankara, Raymond Realty, Kalpataru limited, The Ashar Group and many more along with professionals specializing in redevelopment projects. It is a golden opportunity for housing society representatives to engage with experts, address their concerns, and explore feasible redevelopment solutions under one roof. Over 500 housing societies across MMR have already registered while those societies interested in participating can register for redevelopment at www.redevelopingmumbai.com.
The exhibition marks a significant milestone in Mumbai's urban development journey, addressing the city's space constraints and highlighting the role of vertical expansion through redevelopment.
Speaking about the exhibition, President of CREDAI-MCHI, Domnic Romell said, “Redevelopment presents both immense opportunities and significant challenges for Mumbai's housing societies. Through this exhibition, CREDAI-MCHI aims to simplify the redevelopment process by connecting societies with trusted developers, government bodies, and experts in the field. The Ease of Doing Redevelopment initiative reflects our commitment to playing a pivotal role in transforming the city's skyline, while also aligning with government policies that promote sustainable urban development. With the active participation of over 40 reputed developers, we are optimistic about making redevelopment more accessible and beneficial for all stakeholders involved.”
The Secretary of CREDAI-MCHI, Dhaval Ajmera mentioned, “Redevelopment is crucial for revitalizing Mumbai’s aging infrastructure. At CREDAI-MCHI, we are focused on simplifying this journey for housing societies, with strong backing from the government. By bringing together developers and societies, we are facilitating smoother, faster, and more transparent redevelopment processes."
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Stating that the Ease of Doing Redevelopment exhibition aims to address the core challenges housing societies face by offering direct access to developers and experts, Chairman - PR & Communications, CREDAI-MCHI, Raajesh Prajapati said, “With CREDAI-MCHI’s support and government initiatives, we’re creating an environment where redevelopment is easier and more efficient, benefiting both societies and the city’s growth."
The redevelopment market in Mumbai is estimated to be worth over Rs 30,000 crore. Mumbai, India’s financial capital, is leading this trend, particularly in key micro-markets like Dadar, Prabhadevi, Bandra, Worli, Vile Parle, Juhu, Malabar Hill, and Mahalaxmi. In Mumbai, 15-25% of property registrations are now linked to redevelopment efforts, with over 3,500 projects approved by May 2024.
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