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CREDAI-MCHI successfully hosts the "BuildVerse"
event highlighting its vision, achievements, RERA compliance, and insights into
the real estate industry
Mumbai…April 23, 2024…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, held at Sofitel BKC brought together
figures and stakeholders from the industry for an evening of knowledge-sharing
and insightful discussions. Mr. Boman Irani, President, CREDAI and
ex-President, CREDAI-MCHI 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.
A key feature of the event was a workshop on RERA compliance conducted
by Mr. Vinod Chithore, Director (REG), MahaRERA. Mr. 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.
Moreover, this event marked a milestone for CREDAI-MCHI as it
commemorated one year under the leadership of President Mr. Dommic Romell and
Mr. Boman Irani as President,
CREDAI. Both presidents delivered inspiring speeches reflecting on their
achievements and challenges during their tenure while outlining their vision
for the future of CREDAI-MCHI. The event also witnessed the presence of past
presidents Mr. Rajnikant S. Ajmera, Mr. Vimal Shah, Mr. Mayur Shah and Mr.
Nayan Shah.
Focusing on growth, Mr. Boman Irani,
President, CREDAI and
ex-President, CREDAI-MCHI 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
vigor of our youth, for they are the catalysts not only for real estate growth
but also for fostering unity in diversity.”
While speaking about the agenda accomplished in 1 year, Mr. Domnic
Romell, President of CREDAI-MCHI, 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 evening got more insightful with a fireside chat featuring Mr.
Vimal Shah, Past President of CREDAI-MCHI and Managing Director of Hubtown
Limited, in conversation with Mr. Vinod Chithore. The candid discussion delved
into key issues facing the industry, including regulatory challenges, market
dynamics, and the future outlook for real estate in Mumbai and MMR.
The discussion highlighted key considerations for promoters when
applying for registration under RERA. It emphasized the importance of
accurately disclosing information such as approved areas, CTS numbers, and
plotted development phases. 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. Mr. Domnic Romell, thanked the entire MahaRERA team under the
leadership of Mr. Chithore.
ABOUT CREDAI-MCHI
CREDAI-MCHI is an apex body comprising members from the Real Estate
Industry in the Mumbai Metropolitan Region (MMR). With an impressive membership
of over 1800+ leading developers in MMR, CREDAI-MCHI has extended its reach
throughout the region, establishing units in various locations such as Thane,
Kalyan-Dombivli, Mira-Virar, Raigad, Navi Mumbai, Palghar-Boisar, Bhiwandi,
Uran-Dronagiri, Shahapur-Murbad, and most recently in Alibag,
Karjat-Khalapur-Khopoli, and Pen. Being the only Government-recognized body for
private sector developers in MMR, CREDAI-MCHI is dedicated to promoting the
industry’s organization and progress.
As a part of CREDAI National, an apex body of 13000 developers across
the nation, CREDAI-MCHI has emerged as a preferred platform for regional
discussions on housing and habitat by establishing close and strong ties with
the government. It is committed to breaking barriers to create a strong,
organized, and progressive real estate sector in the MMR.The vision of
CREDAI-MCHI is to empower the Real Estate fraternity of the Mumbai Metropolitan
Region as it preserves, protects, and advances the right to housing for all. To
continue being a trusted ally, guiding their members, supporting the Government
on policy advocacy, and assisting those they serve through the ever-evolving
real estate fraternity.
Website: https://mchi.net/
For further media queries, please contact:
Sonia Kulkarni | 9820184099
sonia.kulkarni@hunkgolden.in