CREDAI-MCHI’s Ease of Doing Redevelopment (EODR) 2.0 concluded on Saturday April 12, marking a milestone in Mumbai’s journey towards responsible and future-ready urban renewal. It is the apex body of real estate developers in the Mumbai Metropolitan Region (MMR), representing over 2200+ top developers across the region.
Hosted at the Jio World Convention Centre, this one-day exhibition brought together over 40 leading developers and over 3000 housing societies, along with legal luminaries, urban planners, architects, and policymakers—firmly positioning EODR 2.0 as Mumbai’s definitive redevelopment platform.
Sanjeev Jaiswal Vice President & CEO, MHADA, emphasised the need for robust public-private partnerships to revamp Mumbai’s timeworn housing stock. He said, “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.”
Boman Irani, President, CREDAI National and CMD of Rustomjee Group, said “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 yourcommittee 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.”
While Domnic Romell, President, 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 In today’s RERA-regulated era, the demand for excessive bank guarantees is both outdated and unnecessary.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 Let us move away from unrealistic expectations and outdated norms—redevelopment must work in the best interest of the residents.”
