Mumbai (Maharashtra) [India], August 31: At the National Real Estate Development Council (NAREDCO) Maharashtra's flagship event, The Real Estate Forum 2024, Housing Minister Atul Save emphasized that Mumbai is pivotal to India's economic progress. He stressed the importance of ensuring the city’s growth is both sustainable and inclusive.
Save highlighted the significant infrastructure developments underway, including the coastal road and metro expansions, aimed at improving connectivity and easing citizen life. The completion of the Samruddhi Mahamarg has notably reduced travel time between Nagpur and Mumbai from 15-17 hours to just eight hours.
He also focused on affordable housing, mentioning schemes like Pradhan Mantri Awas Yojana (PMAY) and Shabari Yojana that aim to make home ownership accessible. The government has reduced MHADA housing prices, leading to over 30,000 applications, and is considering adjusting the price cap for these projects.
Save outlined the government's vision to advance Mumbai as a leading economic hub, contributing to India's goal of becoming the third-largest global economy. He assured that the government is committed to addressing stakeholder concerns and integrating constructive suggestions into future housing policies.
In other updates, Valsa Singh Nair, Additional Chief Secretary, Housing Department, Maharashtra, announced upcoming policies including an amnesty scheme for stalled SRA projects and a new PAP Policy to ensure timely completion of redevelopment projects.
Prashant Sharma, President of NAREDCO Maharashtra, discussed the growth and challenges in the Indian residential sector, noting Mumbai and Pune's significant role in new launches. He highlighted the need to review government fees to maintain competitiveness amid rising housing prices.
Dr. Niranjan Hiranandani, Chairman of NAREDCO, called for the allocation of 5,000 slum redevelopment projects to NAREDCO to strengthen Public-Private Partnerships and advance urban redevelopment in Mumbai.
Rajan Bandelkar, Vice Chairman of NAREDCO India, addressed issues such as affordable housing gaps and regulatory constraints on architectural innovation, suggesting a reassessment of RERA's impact.
Sandeep Runwal, Vice Chairman of NAREDCO Maharashtra, highlighted the 30-40% growth in Mumbai’s residential market and NAREDCO's commitment to enhancing the city's development through strategic partnerships.
Dr. Bhushan Gagrani (IAS), Commissioner of the Brihanmumbai Municipal Corporation (BMC), emphasized the collaborative effort needed for Mumbai's infrastructure growth, including the expansion of metro lines.
Valsa Nair Singh (IAS) highlighted progress in Maharashtra's housing sector and the focus on cluster development and timely project completion. She also announced an amnesty scheme for stalled SRA projects and ongoing efforts to optimize construction technologies.
The event featured contributions from various partners, including City Lift as the Platinum Partner and other key sponsors and supporters in multiple capacities.
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