Step towards addressing Mumbai’s housing redevelopment challenges, CREDAI-MCHI, the leading real estate developers’ body in the Mumbai Metropolitan Region (MMR), is set to host the first-ever Ease of Doing Redevelopment (EODR) exhibition on 28th September 2024 at the Jio Convention Centre.
This landmark event aims to facilitate housing societies exploring redevelopment opportunities, allowing them to directly engage with top developers, project management consultants (PMCs), and government bodies such as the BMC, MHADA, and SRA. The initiative seeks to streamline the otherwise complex redevelopment process, aligning it with government policies aimed at sustainable urban expansion. The EODR exhibition features participation from over 40 reputed developers, including industry leaders like Rustomjee, Adani, and Kolte Patil. With more than 500 housing societies already registered.
The exhibition is poised to serve as a one-stop solution for societies aiming to understand the redevelopment process better and to address concerns ranging from legalities to financial feasibility. Mumbai’s space constraints and urban sprawl have made redevelopment the key to the city’s vertical expansion. With over ₹30,000 crore at stake in the redevelopment market, the initiative could not have come at a better time. Key micro-markets like Dadar, Bandra, and Prabhadevi are leading the redevelopment trend, contributing to over 15-25% of the city’s property registrations. More than 3,500 redevelopment projects were approved by mid-2024, indicating that housing societies are increasingly leaning towards transformation to rejuvenate their ageing infrastructure.
From a sustainability perspective, redevelopment also supports urban renewal by making better use of land, modernising building codes, and enhancing living standards. By promoting vertical growth and optimising existing resources, this initiative addresses civic concerns such as housing shortages and infrastructure stress. As the EODR exhibition unfolds, it signals a new era of sustainable urban development in Mumbai, underscoring the need for collective action in reshaping the city’s skyline while balancing environmental, economic, and social priorities.
Mr Domnic Romell, President, CREDAI-MCHI 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.”
Mr Dhaval Ajmera, Secretary, CREDAI-MCHI 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.”
Mr Raajesh Prajapati, Chairman – PR & Communications, CREDAI-MCHI said, “The Ease of Doing Redevelopment exhibition aims to address the core challenges housing societies face by offering direct access to developers and experts. 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.”
