On the Fast Track

Expert committee eases infrastructure development in Navi Mumbai. 

submitted by CREDAI-MCHI 

In a move to streamline the processes of the real estate segment in Navi Mumbai, the Government of Maharashtra has formed an expert four-member committee. This committee will comprise the former chief secretary, principal secretary, UD-II, joint managing director, City and Industrial Development Corp. (CIDCO) and representatives of Confederation of Real Estate Developers Associations of India (CREDAI)-Maharashtra Chambers of Housing Industry (MCHI)-Builders Association of Navi Mumbai (BANM). The committee will take care of development-related issues and suggest solutions to problems in real estate-related infrastructure development.

CIDCO is undertaking various mega infrastructure projects, including Navi Mumbai International Airport, Navi Mumbai Metro, Navi Mumbai Airport Influence Notified Area and Corporate Park. CIDCO has allotted land parcels on lease to different real estate developers to create residential and commercial projects. At the same time, CIDCO is also responsible for developing the required infrastructure with civic amenities on these plots and in adjoining areas. The purpose of the committee is to fast-track various processes, such as developing roads, providing a water supply and other basic infrastructure necessities.

Ensuring Greater Transparency

Dr. Sanjay Mukherjee, vice chairman and managing director of CIDCO, said:

“CIDCO has always been at the forefront of providing innovative solutions for the betterment of the real estate industry in Navi Mumbai. Recently, under the guidance of Chief Minister of Maharashtra Eknath Shinde, we inaugurated the Ease of Doing Business Cell for the benefit of real estate developers and homebuyers, which will bring more transparency in functioning. This move will help expedite various projects and pave the path for rapid development of the real estate sector in Navi Mumbai and adjacent areas.”

CIDCO has allotted land parcels on lease to various real estate developers to create residential and commercial projects. At the same time, CIDCO will be responsible for bringing the required infrastructure and civic amenities to these plots and their immediate vicinity. However, despite developers completing their projects on time at various locations, basic infrastructure — such as roads, water and other essential amenities — is taking time, eventually delaying OC, or occupancy certificate, clearance.

Resolving Pending Issues

Boman Irani, president of CREDAI-MCHI, stated:

“We at CREDAI-MCHI had formed a task force to try to resolve the issues faced by our developer members working in the Navi Mumbai and Raigad regions. We are glad that the Government of Maharashtra is forming a committee to resolve these issues. We have nominated Raajesh Prajapati and Keval Valambhia to become members of this committee. On behalf of all members of CREDAI-MCHI, we profusely thank Chief Minister of Maharashtra Eknath Shinde, who has been the force behind this pragmatic decision that will be helpful to homebuyers, as well as the real estate industry, of Navi Mumbai.”

This move will help expedite various projects and pave the path for rapid development of the real estate sector in Navi Mumbai and adjacent areas.

— CIDCO Vice Chairman and Managing Director Dr. Sanjay Mukherjee

Restarting Stuck Projects

Prajapati, convenor of the CIDCO Task Force of CREDAI-MCHI, said: 

“Many projects were delayed due to delays in providing basic infrastructure, leading to a massive increase in additional lease premiums in the recent past and resulting in stoppage of work on various projects, thus affecting home buyers. We are happy that the Government of Maharashtra has accepted our recommendation and formed a committee on which I shall be representing developers of Navi Mumbai on behalf of CREDAI-MCHI and will actively provide suggestions on how to rationalize the spiraling cost of premiums/penalties and provide relief to the real estate industry in Navi Mumbai. This move will help restart various stuck projects and clear how to give possession to various home buyers in projects held up due to delay in resolution of premium issues by CIDCO.”