Mr. Domnic Romell, President of CREDAI-MCHI, the apex body of
the real estate industry in the Mumbai Metropolitan Region (MMR)
Mumbai : “CREDAI-MCHI congratulates the government on its third term and anticipates more financial measures to strengthen the economy under the current administration.
Mumbai, as a vital economic engine, must focus on comprehensive city
development, including infrastructure improvements and future growth planning.
Given that over 50% of real estate projects in Mumbai are redevelopment
projects, the government should consider levying no GST on redevelopment
projects. This step would ensure safer, better, and more affordable housing for
the citizens of Mumbai.
To address the validated demand for 11.2 million houses, redefining affordable
housing for metro cities like Mumbai is critical. A uniform affordable housing
criterion for both metro and non-metro cities, without a price cap, should be
established, with all houses of 60 sq m declared as affordable housing.
Additionally, increasing tax exemptions on home loans and making the interest
component on home loans tax-free under the relevant sections of the IT Act are
crucial steps to make housing more accessible.
We hope that the government formulates financial policies in a democratic
manner, ensuring that the diverse needs of all
stakeholders are addressed.”
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/