Mumbai: New Housing Policy To Prioritise Affordability And Sustainability, Says Additional Chief Secretary Valsa Nair Singh

Mumbai: The Additional Chief Secretary, Housing, Valsa Nair Singh has said that the new housing policy of the Maharashtra government, which is in the process of being drafted, will lay priority on affordable and sustainable housing. Besides, it will also lay stress on creating housing for students and senior citizens.

"While stress would be laid on the sustainability and affordability, the government will also ensure that certain subsidy is given for those who will opt for green building concept," Singh said while speaking to reporters on the sidelines of Ease of Doing Redevelopment (EoDR) exhibition organized by CREDAI-MCHI on Saturday.

Asked when the policy would be declared, Singh said it is being drafted and would be announced once the state cabinet give its approval.

Earlier, addressing the gathering, Singh said, "Ease of doing redevelopment is a crucial initiative for Mumbai, and I am committed to simplifying processes further. Just as we reduced the number of approvals in other sectors, I believe we can streamline redevelopment procedures to benefit citizens. One key takeaway from today is the proposed portal for redevelopment, which can bring transparency, speed, and inclusivity. With over 100 self-redevelopment projects already cleared, we are seeing significant progress, and we look forward to supporting this with a strong partnership between the government and stakeholders."

In his speech, Gautam Chatterjee, former Housing Secretary and first Chairman of MahaRERA, said that three Ts---Trust, Timeliness and Transparency is the key for any redevelopment project and the stakeholders should maintain that.

Sanjeev Jaiswal, Vice President & Chief Executive Officer, MHADA, said, "The cluster approach is the key to successful redevelopment in Mumbai, moving beyond individual buildings to create better amenities, infrastructure, and living conditions. I'm pleased that for the first time, cluster layouts have been approved under 33(5) and 33(9). Projects like Motilal Nagar and Gandhi Nagar are leading the way, showing that societies coming together can truly transform the city in a sustainable and efficient manner."

The one-day Expo was organised by CREDAI-MCHI, the apex body representing real estate developers in the Mumbai Metropolitan Region (MMR). The event aimed to simplify the redevelopment process for housing societies across Mumbai by offering direct interaction with over 40 reputed developers and experts in the field. The significant highlight of the event was the unveiling of the Ease of Doing Redevelopment Report, a joint research initiative between CREDAI-MCHI and Hurun India.

The exhibition provided housing societies a unique platform to engage directly with developers, project management consultants, and legal experts. Attendees gained valuable insights into redevelopment processes, legal frameworks, and government support for revitalizing old housing stock.

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With 900 housing societies and more than 40 leading developers in attendance, the exhibition marked a crucial milestone in Mumbai's redevelopment sector. The event serves as a one-stop solution for housing societies to explore feasible and sustainable redevelopment options.