CREDAI-MCHI, the apex body of the real estate industry in the Mumbai Metropolitan Region (MMR), successfully organized an event “BuildVerse” focused on promoting understanding and adherence to the Real Estate (Regulation and Development) Act (RERA). The event brought together figures and stakeholders from the industry for an evening of knowledge-sharing and insightful discussions.
President, CREDAI and ex-President, CREDAI-MCHI, Boman Irani made a significant announcement during the event, pledging to achieve carbon neutrality by 2050. He urged all developers to incorporate green living in their projects. This commitment underscores the dedication to environmental sustainability and aligns with global efforts to mitigate climate change.
Workshop on RERA compliance
A key feature of the event was a workshop on RERA compliance conducted by the Director (REG), MahaRERA, Vinod Chithore. Chithore's expertise and deep understanding of the regulatory landscape provided attendees with invaluable insights into navigating the complexities of RERA and ensuring compliance within the real estate sector.
Focusing on growth, Irani said, “In our quest for a sustainable future, envisioning carbon neutrality by 2050 is paramount. The recent turmoil caused by rain in Dubai underscores the urgency of environmental stewardship. Reflecting on our acronym 'GROWTH,' each letter holds profound significance. 'G' symbolizes the imperative of green construction, a call to arms for all developers. 'R' heralds the transformative power of reform, exemplified by the monumental changes ushered in by RERA. 'O' represents the boundless opportunities for sculpting a new India. 'W' advocates for women empowerment & inclusiveness, 'T' stands for transparency, and 'H' embodies the fundamental right to homes for all. Despite the shortfall of seven crore homes, our collective potential remains untapped. Let us harness the vigour of our youth, for they are the catalysts not only for real estate growth but also for fostering unity in diversity.”
Importance of enhancing ease of doing business
Speaking about the agenda accomplished in one year, Romell underscored the importance of enhancing the ease of doing business, effective policy formulation, and close collaboration with the BMC and governmental bodies within the sector. He remarked, "The Women's Wing has been prioritizing healthcare and education for construction workers and their children. Remarkably, we've provided education opportunities to 139 children in architecture and civil engineering for the first time. What's even more surprising is that out of the six children I spoke to, all expressed their intent to apply for the UPSC exam. CREDAI-MCHI's primary focus revolves around partnering with governmental bodies to shape housing policies, securing a nomination for the new Navi Mumbai committee, and advocating for an Amnesty Scheme to address critical issues in the region. We actively collaborate with the Government of Maharashtra on pressing matters such as high ALP rates and infrastructure delays, resulting in securing concessions for cluster development projects.”
The session also addressed concerns regarding composite buildings and emphasized the need for clear disclosure and informed consent from all stakeholders. Participants sought clarity on registration timelines and the impact of recent circulars from MahaRERA, with an overarching emphasis on transparency and simplicity in documentation to expedite the process.
