To address challenges in real estate development in Navi Mumbai, the Maharashtra government, under the leadership of Housing Minister Devendra Fadnavis, has established a committee of experts. The housing department issued a notification outlining the formation of this committee.
Comprising former Chief Secretary, Principal Secretary of Urban Development-II, Joint Managing Director of CIDCO, and representatives from CREDAI-MCHI-BANM (Confederation of Real Estate Developers’ Associations of India – Maharashtra Chamber of Housing Industry – Builders Association of Navi Mumbai), the committee’s purpose is to address development-related issues and propose solutions for problems in real estate infrastructure development.
CIDCO, responsible for major infrastructure projects like Navi Mumbai International Airport, Navi Mumbai Metro, NAINA, and Corporate Park, has leased land parcels to various real estate developers for residential and commercial projects. Simultaneously, CIDCO is tasked with developing the necessary infrastructure and civic amenities on these plots and in adjacent areas. The committee aims to expedite processes such as road development, water supply, and other essential infrastructure.
Dr. Sanjay Mukherjee, Vice Chairman and Managing Director of CIDCO, stated that the establishment of the Ease of Doing Business Cell, guided by Chief Minister Eknath Shinde, will enhance transparency and speed up various projects, fostering rapid development in the real estate sector in Navi Mumbai and nearby regions.
Despite developers completing their projects on schedule, the delay in providing basic infrastructure such as roads and water has led to delays in obtaining Occupancy Certificates (OC). Boman Irani, President of CREDAI MCHI, mentioned that a task force was formed to address issues faced by developers in Navi Mumbai and Raigad regions. Raajesh Prajapati, Convenor of CIDCO task force of CREDAI-MCHI, expressed satisfaction with the government’s acceptance of their recommendations and the formation of the committee. Prajapati, representing developers in Navi Mumbai, will actively contribute suggestions on rationalizing premium/penalty costs, providing relief to the real estate industry, and facilitating the resolution of premium issues by CIDCO. This initiative is expected to restart stalled projects and enable the delivery of possessions to homebuyers affected by delays.