AGM REPORT 2019-20

Annual Report
2019-2020

RE-IMAGINE
REVIVE RE-BUILD

THE FUTURE



TABLE OF Mission
Vision
CONTENTS Message from the President- Mr. Deepak Goradia
Message from the Immediate Past President-Mr. Nayan Shah
Message from the Secretary-Mr. Pritam Chivukula
Past Presidents
CREDAI-MCHI Managing Committee 2020-21
CREDAI-MCHI Events & IP Committee 2020-21
CREDAI-MCHI Youth Wing Committee 2020-21
CREDAI-MCHI Women’s Wing Committee 2020-21
CREDAI-MCHI Procurement Wing 2020-21
List of Task Owners of CREDAI-MCHI
Minutes of the 37th AGM
Change of Guard
REPORT AT GLANCE
• Meetings held during the year
• Representations
• Workshops & Seminars
• RED – Real Estate Dialogue
• 29th CREDAI-MCHI Real Estate & Housing Finance Exhibition
• WeProcure.in - Initiative under procurement wing
• Members on Board
• CREDAI-MCHI BIZNET - Navi Mumbai
• CREDAI-MCHI E-BIZNET
• The MCHI Premier League – VII
• Vote Greater Mumbai #EaseOfLiving2019
ACTIVITES DURING THE COVID-19 PANDEMIC
• CREDAI-MCHI Webinar
• Support to Fight Against COVID-19
• Mobile Dispensary Seva Vans
• Research Paper I, II
• Housing for All
• #ReviveRealEstateReviveEconomy
Women’s Wing: Committed to CSR
Legal updates
Managing Committee Members Attendance
CREDAI - MCHI Membership Strength
Auditor’s Report 2019 – 20
CREDAI – MCHI Team
CREDAI - MCHI in the News

MISSION

• To create a favorable Business Environment for Real Estate
Developers of MMR

• To make Real Estate sector more Organized and
Progressive by workingclosely with Stakeholders

• To support Government’s initiative of
Housing for All Indians by 2022

• To improve industry Credibility and Confidence
amongst the Consumers

VISION

• To revive and grow Indian Economy through • To i m p ro v e k n o w l e d g e a n d s k i l l s o f
Creation of 1 lakh New Jobs in Mumbai members through continuous learning and
Metropolitan Region – Skilled, Unskilled and best practices
Entrepreneurial • To carry out various activities as a SRO
• To grow Consumer Demand for Real Estate (Self-Regulatory Organization) appointed by
through various Initiatives and Activities MahaRERA
• To ensure Real Estate Development
Business’s Financial & Technical Viability
• To further strengthen the common platform
which makes representations to Central
Government, State Government, Local Bodies
and other Stakeholders
• To continue CSR initiatives to fight the
on-going COVID-19 pandemic for Safety

MESSAGE

FROM THE PRESIDENT

DEEPAK GORADIA

I convey my warm greetings and heartfelt thanks ● To increase participation of the Women Wing in
to everyone for the honor of recently appointing various initiatives
me as President, CREDAI-MCHI. To head this apex
developers’ body which has a glorious legacy of over It is my conviction that as a collective, cohesive and
35 years, is indeed a huge honour and privilege for well-knit group comprising all of us, we can achieve
me. This year my team’s key agenda is : any heights. I shall try to build a strong Real Estate
brand through energized CREDAI-MCHI, by way of
● To increase participation of small-mid scale developing a process of all-inclusiveness and wider
developers operating across MMR consultations.
● To create taskforces mentored by Senior Members
and having active participation of the Youth Wing It is very important that we set our priorities right
members in day to day operations and constantly align ourselves to current challenging
scenario while ensuring that our focus on growth and
● Formation of Working Group for various focus areas achieving excellence remains undeterred. We will
like SRA, MHADA 33(7), MHADA 33(5), Society Rede- have to continuously evolve in all spheres of our activities
velopment, Central Suburb, Western Suburb, PMAY and keep ourselves abreast with the latest technologies
and CIDCO and best construction practices, to deliver world class
products and services to our customers.
● Formation of “General Council – MMR” for better
co-ordination of various MMR Units I would also ensure that CREDAI-MCHI becomes one
of the key contributors towards our shared Vision 2022
● Formation of “Advisory Council – MMR” comprising through our major initiatives – Re-imagine, Re-build,
of various Industry Experts like veteran Bankers, Revive. I eagerly look forward to your support and
renowned professionals, senior Corporate Real Estate cooperation in leading the association to greater
professionals, IPC leaders etc. who shall be the ‘Think all-inclusiveness and collective success of us all.
Tank’ to provide Thought Leadership to the Industry
at large With Warm Regards,

● Expansion of presence in new geography in MMR Deepak Goradia
by installing new Units

● To improve knowledge and skills of members
through certification courses, webinars, knowledge
sharing initiatives, skill development programs and
such various other initiatives

● To enhance and further strengthen “ Me m be r
Assistance Cell” on various pressing business issues
by our Senior Past Presidents

MESSAGE

FROM THE IMMEDIATE PAST PRESIDENT

NAYAN SHAH

Greetings & Heartiest Congratulations to our newly
elected President Shri Deepak Goradia !

I extend a hearty welcome to Shri Deepak Goradia on attendance of Hon’ble Prime Minister of India, Shri
behalf of the entire Managing Committee, Members Narendra Modi ji and many more, which took our
and MCHI Team, who with his invaluable inputs and stature and strength to newer heights.
commitment to the cause of wellbeing of Real Estate
Sector, is all set to provide direction to CREDAI – In a period of 5 months in MMR, Bhartiya Jain
MCHI. My wishes are with him while he takes over as Sanghatana (BJS), Desh Apnayen & CREDAI-MCHI with
President of the apex developers body and I am very support of MCGM and Government of Maharashtra
confident that under his guidance, CREDAI-MCHI will started 60 Mobile Dispensary Seva Vans to service
achieve great success in all its endeavors. COVID-19 hotspot areas, which have treated more
than 7,90,422 patients and continue their efforts to
I would always be grateful for the respect, affection and achieve ‘Mission Zero’.
support provided by you all during the 2 years, while I
was President, memories of these days will always be Most noteworthy part of my tenure was our strong
special for me. Seniors, Colleagues and Youngsters all engagement with the Government of Maharashtra
contributed immensely and whole-heartedly towards and our role in many important decisions taken in
the functioning of CREDAI-MCHI, which truly makes favor of real-estate industry. Last but not the least –
it an unique term in many respects. While parting the we hosted Hon’ble Chief Minister of Maharashtra on
title, I would always remain committed in my own way four prominent occasions and received encouragement
and extend my full support to the New President and with his appreciation of developer’s fraternity.
his team, Women’s Wing and Youth Wing. I want to
thank my family especially my late mother, whom I denied While wishes Shri Nayan Shah all success, I will continue
her due time. Today, a flashback is running before my my association with CREDAI-MCHI and shall work
eyes when I joined as Youth Wing member some 30 hand-to-hand to keep the legacy alive left behind by
years ago and rose to the post of President of this our Past Presidents.
coveted Association. No joy can be greater than this!
All the best dear Deepak!
Special memories of launching the first ever CREDAI-MCHI
Procurement Wing and its platform WeProcure, Nayan Shah
getting more than 2,111 Real Estate Projects registered as
per SRO (Self-Regulatory Organization) appointment of
CREDAI-MCHI by MahaRERA, successful Property
Expo, 2 editions of MMR Biznet, an International
Biznet at Istanbul, Youth Wing’s Bengaluru Study
Tour, initiating RED (Real Estate Dialogue) which saw
big wigs of Real Estate Industry come as speakers,
organize Mega YouthCon 2019 which saw the

MESSAGE

FROM THE SECRETARY

PRITAM CHIVUKULA

Season’s Greetings ! • Members Assistance

CREDAI-MCHI salutes to all the COVID Warriors, • PMAY / Affordable Housing

who are standing on the front lines of the coronavirus • Skill Development

pandemic. They are staying out of home so that we

stay safe at our home. We salute the brave hearts of The above taskforces will help the association in achieving

the Nation. I am glad to share that our Members and its mission to revive and grow Indian Economy through

the Secretariat have adopted to technology in their Creation of 1 lakhs New Jobs in Mumbai Metropolitan

working extremely swiftly. The Managing Committee Region – Skilled, Unskilled and Entrepreneurial, to

and all the task-forces have started their e-meetings. grow Consumer Demand for Real Estate through

I am extremely enthused with the active involvement various Initiatives and Activities, to ensure Real Estate

of the Youth in all the taskforces. Details of the same Development Business’s Financial & Technical

are as below : Viability, to further strengthen the common platform

which makes representations to Central Government,

• RBI , Banking Relations & Finance Ministry State Government, Local Bodies and other

• Housing Department : RERA & SRA Stakeholders, to continue CSR initiatives to fight the

• UDD/ All other corporations and Planning Authorities on-going COVID-19 pandemic for Safety of the

/ UDCPR Community, to improve knowledge and skills of members

• Revenue Department through continuous learning and best practices and

• MHADA : 33(5), 33(7), 33(7) A, 33(9) to carry out various activities as a SRO

• MCGM (Self-Regulatory Organisation) appointed by MahaRERA

• Legal Issues

• Environment

• Civil Aviation Pritam Chivukula

• Unity team NAREDCO, CMDWA, BDA, CREDAI

NATIONAL

• CP, Consultants, Advocates, Architect, Structural

Designers, MEP Consultants, Counsels

• Procurement Wing, Vendors, Suppliers

• Marketing Campaign on Real Estate

• Public Relation

• Research & Analytics Wing

PAST PRESIDENTS

Late Babubhai Majethia Late Lalit Gandhi Late G.L. Raheja

(1982-1993) (1993- 1996) (1996-1999)

Rajnikant S Ajmera Niranjan Hiranandani Mofatraj Munot

(1999-2002) (2002-2004) (2004-2006)

Mohan Deshmukh Pravin Doshi Sunil Mantri

(2006-2008) (2008-2010) (2010-2011)

Paras Gundecha Vyomesh Shah Dharmesh Jain

(2011- 2013) (2013-2015) (2015-2017)

Mayur Shah

(2017-2018)

CREDAI - MCHI
MANAGING COMMITTEE 2020-21

PRESIDENT IMMEDIATE
PAST PRESIDENT PRESIDENT - ELECT

Deepak Goradia Nayan Shah Boman R. Irani

SR. VICE PRESIDENTS

Harish Patel Nainesh Shah Domnic Romell Bandish Ajmera

VICE PRESIDENTS

Sukhraj Nahar Jayesh Shah Ajay Ashar

HON. SECRETARY TREASURER

Pritam Chivukula Munish Doshi

CREDAI - MCHI
MANAGING COMMITTEE 2020-21

SPECIAL PROJECTS

Parag Munot Sandeep Raheja Navin Makhija

Rasesh Kanakia Shahid Balwa Subodh Runwal
HON JT. SECRETARY

Shailesh G. Puranik Dhaval Ajmera Pratik Patel
JT. TREASURER

Mukesh Patel Tejas Vyas

CO-ORDINATOR

Nayan Bheda Raajesh Prajapati Dr. Adv. Harshul Savla

CREDAI - MCHI
MANAGING COMMITTEE 2020-21

COMMITTEE MEMBER

Gautam Ahuja Deepak Gundecha

INVITEE MEMBER

Shailesh Sanghvi Sachin Mirani Nikunj Sanghavi Rajeev Jain Shymal Mody

Digant Parekh Rushank Shah Samyag Shah Jayesh C. Shah

Sunny Bijlani Sahil Parikh Naman Shah

Ricardo Romell Binitha Dalal

CREDAI-MCHI
EVENTS & IPs COMMITTEE

MENTOR

Bandish Ajmera
CHAIRMAN

Pratik Patel
CHAIRMAN ELECT

Dhaval Ajmera
CONVENER

Rajeev Jain Aditya Shah Nikunj Sanghavi

Exhibition Marketing Forum Youth Wing

Nimish Ajmera Akshay Agarwal Binitha Dalal

Biznet & WeProcure Associate Membership Banking Forum

Tejas Vyas

MPL

CREDAI - MCHI
YOUTH WING COMMITTEE 2020-21

CONVENER

Nikunj Sanghavi

Aditya Mirchandani Dhairya Shah Kushagra Patel Ruchit Mehta
Aditya Shah Dhaval Dodiya Madhur Gupta Rushabh Satra
Anand Mane Dhruvil Patel Mahek Jain Rushi Ajmera
Soham Patel Dipesh Kundhadia Manish Chugh Sagar Galani
Aaditya Sanghvi Dr. H.C. Adv. Harshul Savla Manish Dedhia Samyag Shah
Aashay Jain Gagandeep Nagpal Manish Kothari Samyak Jain
Abhishek Gaurav Gharat Manish Rajgor Sanjay N Damani
Akshay Jain Gaurav Sharma Milind Chavan Shilpin Tater
Amrik Singh Nagpal Gaurav Thakker Mit Gala Shreya Doshi
Anand Mane Hafsa Imran Mohsin Maknojia Shubham Jain
Anand Modi Harsh Gandhi Naman Shah Siddharth Shah
Anikaa Wasan Harshil Shah Nimit Mehta Smeet Modi
Anmol Luman Hitane Mewani Nishit Atal Soham Narang
Anuj Goradia Hiten Chhadva Pakshal Sanghvi Sunny R Bijlani
Anup Jhamtani Hitesh Jain Prachi Jain Tushar Dabhole
Ar Dilip Deshmukh Husssain Lalani Premal Desai Umang Kuwadia
Ar. Ajay Nahar Imran Maknojia Purav Shah Vicky Oswal
Arjun Thesia Jay Vora Raj Valia Viivek M.Jain
Arun Jadhwani Jayesh Chauhan Rajesh Khetwani Vijaybhai Parekh
Ashish Kanakia Jaysinh Dave Ranbir Nagpal Vinit S Modi
Ashiyan Khot Jigar Ajmera Raunak Rathi Vishal Jumanj
Ashmal Khot Jitesh Agrawal Ricardo Romell Vrutika Satra
Avinash Wadhwani Jitesh Jain Rikhav Shah Yash Ajmera
Binitha Dalal Keshav Modi Rishi Todi Yash Mutha
Chintan Sheth Ketki Sanjay Patil Ritesh Shah Yogesh Mewani
Deepak Mehta Kunal Kataria Rohan Chheda

CREDAI-MCHI
WOMEN’S WING COMMITTEE 2020-21

HON. CHAIRPERSON HON. VICE CHAIRPERSON

Richa Shah Falguni Shah

HON. SECRETARY HON. TREASURER

Jesal Shah Sejal Goradia

SPECIAL PROJECTS

Sonal Shah Anuradha Shah Mona Ajmera

MANAGER

Reena Noronha

PROCUREMENT WING
MEMBERS

CONVENER
Nimish Ajmera, Ajmera Realty & Infra Ltd

CO-CONVENER

Akshay Agarwal, Arihant Superstructure Nilesh Puranik, Puranik Builders Pvt. Ltd

ADVISORY MEMBERS

Amar Tendulkar, Mahindra Realty Nozer Sadri, Shapoorji Pallonji Construction
Bhavin Khant, Dosti Group Prashant Mewada, DLF
Bhavin Shah, Acme Housing Punam Ingle, Godrej Properties
Chandresh Mehta, Keystone Realtors Pvt. Ltd. Rohan Bagadiya, Transcon Builders
D. R. Jalan, Sunteck Realty Salil Pandya, Runwal Group
D. S Rao, Naman Group Sandip Shah, Omkar Realtors
Deepak Vibhute, Hiranandani Communities Sanjay Sanghvi, Kanakia Spaces Pvt. Ltd
Dhimant Choksi, Ajmera Realty & Infra Ltd Sanjay Sutar, Godrej & Boyce
Dinesh Shinde, Lokhandwala Group Seema Jobanputra, Ashar Group
Hetal Joshi , Piramal Realty Shabbir H Kanchwala, K Raheja Corp
M. S. Darukesh, S D Corp Tikam Jain, Lodha Group
Mohan Upaddhye, Capscium Global Realty Urvesh Mehta, Marathon Realty
Mukesh Jaitley, The Wadhwa Group Vikas Lad, Mayfair Housing
Neerav Parmar, Shapoorji Pallonji Real Estate Vivekanand Kundle, Kalpataru Constructions
Nihar Gandhi, Tata Housing Yogesh Hate, Raiaskaran

CREDAI-MCHI KRA & TASK LIST

SR. NAME OF COMMITTEE TASK OWNER PLAN OF ACTION/TERMS OF REFERENCE
NO.

RBI / Banks / HFC / NBFC

1) One-time Restructuring with SM1, SM2 and
NPA loans.

2) Increase in the sanction limits by all
Banks/NBFCs and listed debentures by 20%
with no additional security @ MCLR

3) One to one meeting with Chairman’s of
Banks/ HFC/ NBFC

 Reduction in the lending rate for Construction
Finance to developers

 Get reduction of interest cost benefits as per
RBI

RBI Mr. Boman Irani Finance Ministry
1. Banking Relations
1) Any purchase of the property up to 31st
Finance Ministry March 2022, the purchase cost and interest
thereon, should be allowed as a deduction
under Income Tax Act, over a period of 7
years, provided the property acquired is
self-occupied or if it is not self-occupied, then
it is given on rent or leave and license, for a
period of not less than six months in each of
the financial year

2) Reduce housing loan interest rates to 5% for
limited period and promote rental housing
further, entire rental income be exempted for
next 5 years.

3) 80 IBA: definition of affordable housing unit
i.e. 60 sq. meters. for metros and 120 sq.
meters. for non-metros.

4) At option of Developer, to restore, Input tax
credit with GST @8% Affordable house
definition for metro cities where size of unit is
upto 60 sq mtrs, the price cap of Rs 45 lakhs
should be removed for metro cities.

CREDAI-MCHI KRA & TASK LIST

SR. NAME OF COMMITTEE TASK OWNER PLAN OF ACTION/TERMS OF REFERENCE
NO.

2. Housing Department Mr. Vyomesh Shah Housing / RERA
(RERA)
SRA 1) Automatic extension of 9 Months to Project
Completion period and the same not to be
treated as an extension under the Provision of
Section 6 of RERA. Automatic extension of
Nine months to possession date of handing
over of an apartment while adjudicating
complaints under section of 18 RERA.

2) Issue directions that till 31st March 2021,
interest payable to lenders of Real Estate
Project not to be added to total cost of
construction and consequentially such interest
not to be paid out of 70% Escrow Account.

3) Reliefs in relation to cancellation of apartment
and compensation for delay in handing over of
apartment and payment of the same.

SRA

1) Work towards bringing changes with respect
to ease of doing business.

2) To bring necessary changes required in DCPR
Reg. 33(10)

UDD / All other Mr. Ajay Ashar 1) All premium such as Fungible/ Open Space
3. corporations and Planning Deficiency/ Staircase premium to be reduced
by 90% on residual payment basis & for all
Authorities / UDCPR future projects for next 2 years.

Back ending of pending installments until OC

Premium to be paid on a 10:90 scheme i.e
10% upon issue of CC and 90% before OC to
be paid in proportion to the O.C granted. The
amount deferred to be secured by lien /
mortgage of sale units with No Interest across
MMR.

2) Sanctioned of UDCPR

3) Necessary Modification in DCPR 2034 &
Sanctioned of Pending EP’s

CREDAI-MCHI KRA & TASK LIST

SR. NAME OF COMMITTEE TASK OWNER PLAN OF ACTION/TERMS OF REFERENCE
NO.

4. Revenue Department Mr. Shahid Balwa Revenue department
MHADA
1) Stamp duty on sale of residential and commercial
33(5), 33(7), 33(7) A, 33(9) units to reduce to 1% till Dec 2020

2) Rationalization of Ready Reckoner Rates
• To be reduced at least by 20% and land rate

should be 25% of sale of residential flats in
city of Mumbai.
• Under construction unit to be 80% of the value
of completed / ready unit

Due to this anomaly, tax liability under Section
43CA of Income Tax Act

MHADA

1.) Work towards bringing changes with respect
to ease of doing business.

2.) To bring necessary changes required in DCPR
reg 33(5), 33(7), 33(7) A

5. MCGM Mr. Mayur Shah 1) Necessary changes in the policy

2) All property taxes dues of earlier as per
recovery notices and for current year should
not be collected till March 2021.

3) Relaxing the construction working time and
make the 24 hours working. e.g. Accommoda-
tion Reservation, Slum, Public Parking Lot,
MHADA, relax conditions precedents and
allow sale building and tenant or govt building
with an overall cap on OC allow to recover the
lost period

Legal team and examine all issues

6. Legal Issues Mr. Nainesh Shah 1) Possibility of force majeure
2) No interest to be charged during Covid time

CREDAI-MCHI KRA & TASK LIST

SR. NAME OF COMMITTEE TASK OWNER PLAN OF ACTION/TERMS OF REFERENCE
NO.

7. Environment Mr. Deepak Goradia 1) Finalizing the Suggestion/ Objection of MoEF
Mr. Kunal Chheda Notification
8. Civil Aviation
2) Work towards bringing necessary changes
with respect to ease of doing business in
MoEF Clearance

1) Amendment to GSR 751(E): Final Notification
2) Measures to ease the process for conduct of

aeronautical Studies
3) OLS issue

9. Unity team NAREDCO, Mr. Bandish Ajmera Common Minimum Programme
CDWA, BDA,
CREDAI NATIONAL

CP, Consultants, Advocates, Mr. Harish Patel Advisory to the Industry
10. Architect, Structural To achieve the cost saving in various professional
fees to members.
Designers, MEP Consultants,
Counsels, Advocates

11. Procurement Wing, Mr. Nimish Ajmera Vendors Management & Purchase of Materials
Vendors, Suppliers Endeavor to achieve at least 10% saving on
construction cost

12. Marketing Campaign Mr. Pritam Chivukula Real Estate Sahi Hai
on Real Estate Campaign to start one-month post lockdown and
continue long term, minimum 2 to 3 years.

13. Public Relation Mr. Raajesh Prajapati To ensure maximum publicity for CREDAI-MCHI
on media as well as on Social Media

14. Research & Analytics Wing Mr. Nayan Shah To be the central consolidated data bank for the
purpose of various representations and media
15. Members Assistance Mr. Vyomesh Shah briefings. The task force will on a quarterly basis
publish Research Papers and also explore
Collaborative Research Studies with various
Stakeholders of our Sector.

Members Assistance under RERA. SWAMIH
fund. Consumer forum, NPA issues Etc.

CREDAI-MCHI KRA & TASK LIST

SR. NAME OF COMMITTEE TASK OWNER PLAN OF ACTION/TERMS OF REFERENCE
NO.

16. PMAY / Affordable Housing Mr. Nikunj Sanghvi

17. Skill Development Dr. Adv. Harshul Savla

18. Youth Wing Mr. Nikunj Sanghvi

19. Events and Exhibitions Mr.Pratik Patel Vendors Management & Purchase of Materials
20. Women’s Wing Mrs. Richa Shah Endeavor to achieve at least 10% saving on
21. CSR Mr.Dharmesh Jain construction cost

Covid 19 fight
Ambulance Services

*Task owner to select his team in consultation with president.

MINUTES OF THE 37TH AGM

Name of the Meeting 37th Annual General Meeting
Meeting Chaired by
Meeting Conducted by Shri Nayan Shah, President, CREDAI-MCHI
Date of the Meeting
Venue of the Meeting Shri Bandish Ajmera, Hon. Secretary CREDAI-MCHI

Thursday, September 19, 2019 at 5:30 pm
“Y. B. Chavan Centre”, General Jagannath Bhosle Rd,
Nariman Point, Mumbai – 400021

Shri Bandish Ajmera, Hon. Secretary welcomed the Proposed by : Shri Deepak Gundecha

Members present. Seconded by : Shri Rajesh Prajapati

He said it is a great pleasure that we all are gathered 2. (i) To consider and Adopt the CREDAI-MCHI
for our 37th Annual General Meeting to share
accomplishments and the achievements of the year Report for the year 2018-19.
gone by. It wouldn’t have been possible without your
active participation and started the 37th Annual Proposed by : Shri Pritam Chivukula
General Meeting proceedings.

Seconded by : Shri Dhaval Ajmera

1. (i) To read and confirm the minutes of (ii) To appoint Auditor (M/s. J. H. & Co.) for the year
2019-20 and fix their remuneration of Rs. 75,000/-
36th Annual General Meeting held on Tuesday, July
Proposed by : Shri Ashit Shah
31, 2018 Seconded by : Shri Nimish Ajmera

Shri Bandish Ajmera, Hon. Secretary reported that the Resolved that M/s. J. H. & Co, Chartered Accountants,
Minutes of the 36th Annual General Meeting were be and are hereby appointed as Auditors for the
circulated to all members, no suggestions received year 2019-20 and his remuneration was fixed at Rs.
and minutes were unanimously accepted as read and 75,000/- .
confirmed.

Proposed by : Shri Tejas Vyas 3. To declare the results of the Managing
Seconded by : Shri Pratik Patel
Committee Elections for the term 2019-2020, 2020-
ii) To receive and adopt: The Auditors Report and Audited
Statements of Accounts for the year ended as of 31st 2021, 2021-2022) by Shri Domnic Romell
March 2019.
(Vice President), Returning Officer.

The Auditors’ Report & Audited Statement of Accounts Shri Domnic Romell, Vice President announced the
for the year ended 31st March, 2019 has been results of the Managing Committee Election for the
circulated to members. term 2019-20, 2020-21, 2021-22. There were 6
Nominations and one has been withdrawn. So, the 5
Thereupon, Hon. Secretary, Shri Bandish Ajmera nominated members are as follows.
confirmed the Auditor’s Report and Audited Statement
of Accounts for the year ended 31st March, 2019.

1. Shri Harish Patel - Proposed by Shri Domnic Romell, August 2019 shows that there were 158 cases allotted,
Seconded by Shri Deepak Goradia settled cases were 94, pending cases were 17 and
2. Shri Mukesh Patel – Proposed by Shri Nainesh Conciliation failed 34. So, this is the great initiative of
Shah, Seconded by Shri Mayur Shah all our Members team, the Senior Members and the
3. Shri Bandish Ajmera – Proposed by Shri Deepak Conciliation Forum Members.
Goradia, Seconded by Shri Pritam Chivukula • CREDAI-MCHI Organized the following Workshops/
4. Shri Parag Munot – Proposed by Shri Pritam Seminars/Events:
Chivukula, Seconded by Shri Deepak Goradia - 3 MahaRERA Workshops at Mumbai, Thane, Raigad
5. Shri Sandeep Raheja – Proposed by Shri Harish this year.
Patel, Seconded by Shri Dharmesh Jain - 3 GST Workshops at MCHI Office for our Members.
- PMAY Workshop in order to educate the Developers
4. Presentation by Shri Bandish Ajmera, with all the requisite benefits of PMAY Scheme and
how to apply for it and smooth implementation of the
Hon. Secretary Scheme.
- RED Session for Real Estate Developers/the Generation
Shri Bandish Ajmera further mentioned that a s a next, who are going to run and lead the industry in
the coming years. We have successfully completed 7
Secretary of CREDAI-MCHI, under the guidance of RED sessions until now with prominent speakers from
within our industry.
our President, Shri Nayan Shah, Managing Committee - Procurement Forum – the highly participating forum
has been a great initiative for our members.
Members, Past Presidents and the support of all the - Portal launch is the initiative by the Procurement
wing. It is online procurement platform created for
Secretariat staff, it has been a milestone year in terms and by the industry.
- Associate Membership launch has been introduced
of many long lasting and impactful changes in our for the bulk deals for Associate Industry partners.
- Biznet is an ultimate business networking platform
sector. Shri Bandish Ajmera informed the members, for our industry. International Biznet – the first
CREDAI-MCHI biznet was conducted in Istanbul for
that CREDAI-MCHI have conducted many important focus of connecting all the stakeholders and developers
of better partnership.
decisions, meetings, seminars, workshops with the - Study Tour – CREDAI-MCHI Youth Wing organized
a Study Tour in Bangalore in March 2019. It was a
concerned stakeholders to guide the CREDAI-MCHI great learning opportunity for the Youth Wing Members.
- Premier League VI – we are proud to announce that
Members for the smooth transition in the new economy. our MCHI Premier League has successfully completed
its 6th edition this year. Thank you Shri Shailesh Sanghvi.
The AGM is the important event which provides us

an opportunity to meet the people face to face and

to brief and network. He mentioned that this year

is a very impacting and successful year, where a lot

of fruitful activities had taken place and this wouldn’t

have been possible without the support of the members

present here.

Shri Bandish Ajmera highlighted some of the achievements
during this year:

• CREDAI-MCHI had several meetings with the • Kerala Relief Fund – CREDAI-MCHI pledged 1.20
Hon’ble Chief Minister of Maharashtra, Deputy CM of crores towards the Kerala Relief Fund.
Gujarat, RBI Governor, MCGM Commissioner, • Kolhapur-Sangli Relief Fund - CREDAI-MCHI also
MahaRERA Authorities and other dignitaries from the pledged to construct the Eco-friendly homes for the
different Ministries for representing various issues of flood affected village and rehabilitate the people of
the real estate industry. Sangli.
• CREDAI-MCHI had various meetings in Delhi on • Women’s Wing conducted 7 Health Camps at various
various issues of our industry with PMO and Principal developers site this year. Educational Scholarship
Secretaries of several Government Ministries. cheques were handed over to 24 students.
• As far as the Legal matter is concerned, there is a • Tree Plantation - Women’s wing had planted several
regular follow up at all levels for the desired results. In saplings at several sites through our Tree Plantation
some matters there are positive results whilst some initiative.
are pending for decision from the judicial authority. • Robust Media present – our President in Media
• The MahaRERA Reconciliation Committee – Our was always there.
Past Presidents and our Unit’s Members are the members
of Reconciliation Committee of MahaRERA. Mr. T D Joseph informed the Members present about
MahaRERA Conciliation report from March 2018 to the generous contribution of the Members of

CREDAI-MCHI towards the noble cause of flood at WeProcure.in. This www.weprocure.in is an initiative
Kolhapur-Sangli Relief Fund and requested to the by the Procurement wing of CREDAI-MCHI. It is an
WeProcure team members to assist in rebuilding online procurement platform created ‘For the Industry,
the houses at Sangli. On 5th of September, team Of the Industry and By the Industry’. The inauguration
CREDAI-MCHI under the guidance of our Hon’ble was done of the website of WeProcure.
Municipal Commissioner, Shri Pravin Pardeshi (IAS)
embarked on building of 76 homes in Burungwadi. Shri Nayan Shah mentioned about the vision of We
We would like to felicitate the Members who visited procurement. In the real estate, we all have seen that
the site at Burungwadi and contributed towards the there is no scope to increase the sale price in fact day
Rehabilitation work. All the dignitaries Shri Rajnikant in and day out the prices are reducing, so we felt that
Ajmera, Shri Pravin Doshi, Shri Dharmesh Jain, Shri the only way we can make up to it is to reduce the
Mayur Shah, Shri Nayan Shah, Shri Sukhraj B. Nahar, cost of construction at the same time maintain the
Shri Domnic Romell were felicitated. value of the quality of whatever work we are doing.
So, the Chamber is in focus now that how do we take
Shri Dharmesh Jain expressed few words about the advantage of collective bargaining, how do we
the Maharashtra being hit by the massive flood in motivate the suppliers that they come and give to
decades. The Hon’ble Municipal Commissioner us the best rates. They also realise, they also want
provided the most effective disaster management business, their business also gone down. So Mr.
service at the areas affected by Flood. The initial relief Nimesh Ajmera took the responsibility and now
work done is to dispatch the required relief material. he knows every purchase manager, every material
The items were released on time and we should manager of all our companies. This is the great achievement
mention here about Shri Sukhraj Naharji’s quick by him. Today we are launching the E-portal.
response in delivering the relief material was deeply
appreciated. The WeProcure team was called on the stage and a
team photograph was taken.
Shri Nayan Shah also mentioned that Shri Sukhraj Nahar
played an important role during the Kerala Flood Shri Nimish Ajmera – Convenor & Shri Akshay Agarwal
relief. The first truck that left anywhere from India to – Co-Convenor of WeProcure Wing were requested
Kerala was from Shri Sukhraj Naharji. to give a gist of portal We Procure, why was it created
and what are the activities done.
Shri Dharmesh Jain mentioned that we had meeting
with the Government and immediate work was done Shri Akshay Agarwal – Co-Convenor mentioned that
and now we need something to be done constructive We Procurement Wing was launched on 4th October
and MCHI to come up with the model village and to 2018, with an objective of consolidating the demand
rehab and assist the Government in rebuilding and side that is all active developers of Mumbai MMR
rehabilitating the areas affected in Sangli. We should to join hands with the supply side and create a
come up with the master planning and execution of mutually benefiting platform to share knowledge,
that work. CREDAI-MCHI will adopt one village. Shri get best price, highest quality and latest technology.
Dharmesh Jain mentioned that I would also like to Organize for discussion study tours and workshops.
mention the initiative taken by Shri Rajnibhai, Shri Procurement and construction of Mumbai at various
Pravinbhai, Shri Nayan Shah, Shri Mayur Shah, myself, platforms. There are 5 IPs under CREDAI-MCHI
Shri Domnic Romell and few of us went to site at Sangli. procurement wing. This wing has been active for 10
We had collected about Rs. 60-75 lakhs. We can take months from now and would like to run into the
this as a model village and we can use this tragedy activities done in this short span of time. We have
as an opportunity, where we do something, which is organized 5 successful Biznet in India in Mumbai as
really a model in terms of villages in Maharashtra. The well as in Pune in last 3 years and with every edition
master plan is on and we hope we will get it executed the idea, the concept, the objective has involved for
and will do something really special for it. making presentation and producing your brand to
more and more emphasis on generating business by
Shri Dharmesh Jain also mentioned about Shri Jayeshbhai obtaining the requirements, meeting the developers,
Shah for his involvement in the government purchase heads to connect with your brands.
coordination to get the work executed. Associate Membership of CREDAI-MCHI, it was the
long pending demand from our Ancillary brands to
Mr. T D Joseph informed the members present firmly associate with the industry body and so un-
about the most important IP of CREDAI-MCHI i.e. der the procurement wing we have initiated the as-

sociate membership, where the recommended and objective is to harness women’s power for taking
trusted brands are empanelled as members and given forward CSR initiative of C R E D A I - M C H I i n a
preference to our developer members. Our long-term structured manner. Our mission is to facilitate and
objective is to create transparency and facilitate bulk grow the community responsibilities and initiatives of
needs. CREDAI-MCHI. Our mission is to make the
CREDAI-MCHI Women’s Wing fraternity involved
Shri Nimish Ajmera thanked Shri Nayan Shah, President, all and empathetic women who are committed to have
the Past President and Managing Committee members the underprivileged, spread education and bring
for trusting and giving this opportunity. He shared his about awareness through conversations.
vision towards the Procurement Wing. He mentioned that Health Camps: Conducted 27 Health Camps and have
procurement played a crucial role in new construction, in covered 5145 labourers. These labourers are benefited
this era of evolution, the immense knowledge, skill of from the health camp conducted in association with
procurement team helps in implementing innovations Mrs. Jayalaxmi Krishnan of Vasantha Memorial Trust,
and technology in respective projects. We aim to creating which is an NGO and Dr. Gunjan Mehta Thakkar and
online and offline interacting networking platform Team from the Dental Studio, who is doing the oral
which will work for the buyers and sellers in the dental check-up for the labourers. Labourers were
industry. Long term purpose of our initiative is made aware to improve their habits so that they can
to unify the industry, understanding making right stay away from the disease of Cancer. Health Camp
projection and estimation, cost management, reduce organized at various developers’ members sites like
wastage, help, create, alter and invent as per the overall Marathon Group, Dosti Group, Ashar Realty, Ajmera
demand of the market. Activities planned in 2019-20 Group.
and the calendar for the year was presented before Educational Scholarships: This year 24 students were
the members present. The presentation was given on granted Educational Scholarship by Women’s
the We Procure website. Wing Members. Motivational & Interactive Session
conducted by Ms Almas Virani for students.
Shri Nayan Shah mentioned that in order to make We Tree Plantation: Tree Plantation initiative was taken up
Procure successful, all of us need to take a pledge by the Women’s Wing and Tree plantation were done
to support We Procure and I request you to take a at various places i.e., Beaches, Colleges, Schools,
pledge in supporting We Procure. Promenade and Housing Projects etc. Taking the
green initiative forward, Members from CREDAI-MCHI
The pledge: Women’s Wing have planted over 100 saplings at
Mayfair Aasaan, Aasangaon.
“We procure, we in capacity of CREDAI-MCHI Mrs. Anuradha Shah also mentioned about the Women
Members, do hereby pledge to work for and support Empowerment with Young Woman Achievers &
the Procurement Portal initiated ‘For the Industry! Of Entrepreneur. CREDAI-MCHI Women’s Wing
the Industry! By the industry!’ I shall be keeping up welcomed and hosted Ms. Poonam Gundecha,
to the transparency and parity of the portal, use the Educationist & Entrepreneur and Ms. Priyanka
portal for Khimani, Partner Law Firm Anand & Anand & Khimani
- Economizing the expenses and improving quality Associates & Celebrity Lawyer.
of construction Mrs. Anuradha Shah further informed about the fun
- Optimizing the buying cycle, activities organized for enhancing member
- Make Suppliers our Partners engagement with the Gourmet Queen & Culinary
We welcome ancillary brands to a large fraternity, Expert – Ms. Asha Khatau.
which shares your interests, passions and concerns!” She also highlighted about the Felicitation of Ms. Aarti
Deshpande as the meritorious student for her
5. Activities of Women’s Wing by Mrs. excellent performance by scoring 9.11 pointer in
her 2nd Year of Architecture from Anjuman I Islam
Anuradha Shah, Imm. Past Chairperson – Women’s Kalsekar Technical Campus of Architecture by
Women’s Wing, Shri Mayur Shah, Shri Nayan Shah,
Wing CREDAI-MCHI Shri Bandish Ajmera and Shri Dhaval Ajmera.
Mrs. Anuradha Shah requested the Members present
Mrs. Anuradha Shah, Imm. Past Chairperson greeted all to financially support scholarship so that more students
would be benefited. As labourers are also given
the Members, Past Presidents and Managing Committee financial assistance for their health care, we should
encourage members to offer their sites for
Members. Mrs. Shah mentioned that we have been

doing CSR work since the last 3 years and for that our

conducting health camps for the construction work- youth developers. We would like to get and share
ers and further motivate the ladies, and girls of their knowledge about the business and whatever possible
families, staff to support and participate in the Women’s participation we can try and get it. Youth Wing was
Wing. launched in September 2017. Our prime and most
Announcement of Women’s Wing Term 2019-20 important IP is RED (Real Estate Dialogue). RED is the
The New Committee of Women’s Wing for the Term form of powerful talks by inspirational leaders. RED is
2019-20 were announced as follows: a community of Real Estate Developers Gen Next who
Hon. Chairperson – Ms. Richa Shah are going to run the show for Real Estate Industry in
Vice Chairperson – Ms. Falguni Shah coming years and who seek deeper understanding of
Hon. Secretary – Ms. Jesal Shah business from not only Real Estate but also from
Hon. Treasurer – Ms. Sejal Goradia global perspective. To highlight we are conducting
Special Projects – Ms. Sonal Shah, Ms Anuradha Shah every 2-3 months the RED sessions. To mention a few,
& Ms Mona Ajmera we have conducted RED with Shri Boman Irani, CMD
Ms. Richa Shah, Hon. Chairperson shared few words – Keystone Realtors, Shri Khushru Jijina, MD- Piramal
with the Members present and mentioned that the Capital & Housing Finance, Shri Gautam Chatterjee,
Women’s Wing was started by Shri Dharmesh Jain, Chairman – MahaRERA. In the RED by Shri Gautam
during the year 2015. Ms. Shah urged the Members Chatterjee, we understood how to adopt RERA.
to ask all women in their families to come forward and
become Members of the Committee. She mentioned We had a three-day Study Tour for Youth Wing from
about the activities being carried under the Women’s 21st March – 23rd March 2019 at Bengaluru. The
Wing. The majority of scholarships are given to insights were given about the business by Shri Jitu
college is Anjuman Islam and mostly to young girls, Virwani, CMD-Embassy Group, Shri J. C. Sharma, VC
they are coming in Burkhas and they have an & MD – Sobha Ltd. and by Shri Irfan Razack, CMD –
independent thought that sometimes we women Prestige Group. The sites of their projects were
from such educated background feel comparison in visited by the Youth Wing Members in this Study Tour.
these young girls, who are coming to say only one We had another RED session with Shri Ajoy Mehta
thing to us that we are here because of their mothers. (IAS), Chief Secretary – Government of Maharashtra.
I would like to thank the Exhibition Committee, Youth It was a very knowledgeable session for all of us. We
Wing for giving us the funds to carry on this process. really want to take this initiative forward.
I would like to request for extra fund to give these
young children, they are the youth of our nation. This We also had CREDAI-Youthcon 19 on 14th & 15th
education will then become part of our industry. Ms. February 2019 at Delhi. CREDAI Youthcon is the
Shah further mentioned that it has been found out annual Youth Conclave of CREDAI, brings together
that Men-Women participating any sector, the the future of the real estate industry. The Hon’ble
governance increases. She mentioned we are looking Prime Minister - Shri Narendra Modi, addressed the
for more participation from our families to become CREDAI YouthCon-2019. Ms. Binitha Dalal with Mr.
Members, Committee Members of Women’s Wing. Gautam Thakker handled the YouthCon w i t h t he
entire team. The Youthcon was very well attended by
6. Presentation on activities of Youth 3000+ youths from all over India. All in all, we had
great sessions and learnings from all of these.
Wing by Shri Dhaval Ajmera, Co-ordinator Youth
Shri Dhaval Ajmera requested the members present
Wing CREDAI-MCHI to send their young ones and become Members of the
Youth Wing.

Shri Dhaval Ajmera thanked Shri Nayan Shah – President As we are already conducting RED sessions and the
and the entire Managing Committee for trusting and Procurement Portal which is going on – We Procure,
giving this responsibility. He said I feel proud that we are now also following a Banking Forum and a
we at CREDAI-MCHI Youth Wing have become one Marketing Forum. Banking Forum will be led by Shri.
of the strongest Youth Wing in the entire Country. I Pritam Chivukula, where we can see how we as
also feel proud as I am representing CREDAI Youth CREDAI-MCHI can see how to bring down the cost of
Wing West Zone. Shri Dhaval Ajmera presented the the projects. In our Marketing Forum, we will see how
Members about the Youth Wing Committee, who is we get the best of the innovative ideas of Marketing.
working day in and day out for various activities, to
see whatever we can give for the youth wing, for the Shri Dhaval Ajmera further produced the Event

Calendar for 2019-20 i.e. RED Sessions, 29th CREDAI-MCHI has proposed to build more Dharamshalas.
Real Estate & Housing Finance Exhibition 2019 – 21st
to 24th November 2020, CREDAI Youthcon – January, Presentation by Shri Ateeque Khot, President of
2020, VII th MPL, 2nd Edition of Golden Pillar Real CREDAI-MCHI Raigad Unit:
Estate Award, Study Tour – March 2020. Shri Ateeque Khot, President of CREDAI-MCHI Raigad
Unit thanked all members present. He mentioned that
The announcement of the 29th Edition of CREDAI-MCHI he had taken charge as a President on 7th September
Expo was made by Mr T D Joseph. It was more 2018. He presented his manifesto of 2018-19 and
emphasized by Shri Pratik Patel that it is going to be mentioned that we are happy to announce that about
affordable as the cost reduction is made for maximum 90% of prime commitments have been achieved. He
participation in the exhibition. mentioned about the Seminars and Workshops
organized like RERA Workshop in Pune, Seminar on
7. Presentation by Units of CREDAI-MCHI RERA & GST, Diwali Milan Party, Meeting with
Income Tax Commissioner, in Raigad. Shri Khot also
Presentation by Shri Sachin Mirani, Secretary of mentioned about the RPL conducted in January 2019.
CREDAI-MCHI Thane Unit: Seminar on Union Budget & NBFC Crisis conducted in
Shri Sachin Mirani mentioned that Thane Unit February 2019. The Raigad Unit’s Members attended
successfully represented the TMC and Urban the Youthcon’19 in Delhi. A Seminar on GST was
Development Department on various stands like 50% conducted in March 2019. Mumbai 3.0 - 1st Mega
on Development charges, Development charges can Business Summit on Raigad MMR held on 18th July,
be paid in 3 instalments, Additional FSI charges can 2019. Shri Khot further mentioned that the Founder
be paid in 2 instalments, 50% reduction in premium President of Raigad Unit, Shri Rajesh Prajapati, as a
for Fire Staircase, Fire infrastructure charges reduced. Conciliator of MahaRERA Conciliation Forum
Seminars were conducted on different issues. Various conducting hearings on the cases in Raigad Office,
campaigns – Wow Thane Branding Initiative are being where success is about 80%. He further mentioned
planned. and the 18th Real Estate of MCHI Thane was that, Raigad Unit has filed a case against CIDCO with
held. RERA and we are in process of filing a Writ Petition
against CIDCO in High Court.

Shri Nayan Shah, President shared about few of the 8. Keynote Address by Hon’ble Chief
things done by the Thane Developers –Shri Ajay
Ashar who hasundertaken and had inaugurated the Guest, Shri Praveen Pardeshi, Municipal Commissioner
Hospital JITO, also announced making of the School
and a Cancer Hospital. of Municipal Corporation of Greater Mumbai

Presentation by Shri Deepak Mehta, President of Shri Nayan Shah, President welcomed Hon’ble Shri
CREDAI-MCHI Kalyan-Dombivli Unit: Praveen Pardeshi (I.A.S.), Municipal Commissioner of
Shri Deepak Mehta, President of CREDAI-MCHI MCGM. Shri Nayan Shah mentioned that, we as
Kalyan-Dombivli Unit thanked all the Managing citizens of Mumbai feel that Shri Praveen Pardeshi Sir
Committee Members. He explained that as a President, has brought a paradigm shift in the aspect of
he has a big responsibility and will do his best. His governing Mumbai. Shri Nayan Shah mentioned that
vision is that to enhance MCHI brand. He presented the Municipal Commissioner’s initiative such as local
an AV for the same. He mentioned that Kalyan- area planning, vision to make and give Mumbai 40%
Dombivli units have made around 20 videos and it will open spaces, to bring rainwater harvesting, sewage
be telecasted about corruption, illegal construction, treatment plant as a normal routine and not as a
infrastructure every month. He also mentioned a Jain condition of IOD. These are some of the great initiatives
Derasar constructed by Shri Praful Shah in Baroda. that Hon’ble Municipal Commissioner has undertaken.
Shri Mayur Shah also applauded the ManiLaxmi Tirtha Shri Shah further mentioned that very soon we will
constructed by Shri Praful Shah, which is a most see afforestation in form of Miyawaki Plantation,
visited Tirtha, which was entirely built by him on his which is also a great signatory initiative. He has also
own funds in 60-80 acres of land. It is being visited by made our business viable, T3, T4, T5, instalments,
lakhs of devotees and the bookings of the Fungible FSI are being considered.
Dharamshalas are getting full every day and Mr. Shah
Shri Shah requested all the members of CREDAI-MCHI

to support and work hand in hand with Shri Pardeshi Shri Pardeshi further mentioned that one of things

Sir and wish him good luck. that Corporation has done is we have brought some

Shri Mayur Shah explained to the Members present good environmental guidelines, which you can

and Hon’ble Municipal Commissioner about the implement voluntarily. So, the open areas that we

rehabilitation work to be carried at Sangli. Hon’ble keep, if you have a plot area of about 1500 sq. Mtrs.

Municipal Commissioner has invited to take up village you have to give some compulsory recreation layout

in the Sangli Kolhapur district, which was very badly open spaces, so for that at least 50% we should

affected. Sir himself travelled with us, as we inspected convert into indigenous tree plantation. He said that

the entire area. We saw what kind of damages had he was thinking Miyawaki scheme to implement in

happened. Sir has already asked us to take up one of Mumbai s. In fact, we in the last 60 years are mostly

the sample model village. The purpose is to recreate, planting non-Indian trees. Almost all the trees you see

rehabilitate the people who are affected in the low in Mumbai, which are planted are non-Indian. Actually,

line area, where their houses are completely damaged. Miyawaki plantation is reverse, Miyawaki means only

In Burungwadi, the nearest station to Bhilawadi area, find what are the local species. Select those seeds and

a land has been identified by the Collector of Sangli plants, because the soil is most suited for that. We

and we are on the verge of starting our work in a few will only plan local indigenous species in a very dense

days. Sir has asked us to plan a model kind of manner, because we have very less land. And what

rehabilitation, where we can give some good design, Miyawaki does, it selects local species, and best suited

good infrastructure, use of solar, use of eco-friendly to be planted, the species will grow around Mumbai.

materials. We are also looking for good technology, if So that is the first thing we are doing to make Mumbai

we can identify that, so that 1000s of houses which greener and also more pleasant.

are to be rehabilitated by the Government, they can

get some kind of guidelines. CERDAI-MCHI is The second thing we are working on the usage of

thankful to the Government for giving us the b i g water. You must have read some stories that Mumbai

opportunity he assured to live up to the expectations. Corporation wants to take up more land for forest for

building the water supply. Because by 2035 it will run

Shri Pravin Pardeshi, Hon’ble Commissioner, thanked out of the current water. So, we are building dams in

all the Members present for inviting him for the 37th some other reservoirs. We decided that even if we

AGM of CREDAI-MCHI. He said it is my pleasure to build one more dam and we are taking away water

be here as for the last 3 to 4 months, we are trying to from distant areas, then we should try to reuse our

just to think of each other as stakeholders on water. So, we are going for 2500 million liters of treatment

partners in the development of Mumbai City and not plants, which will come up in next 4-5 years. What we

as adversaries. He said because of this partnership, are saying that least for the Toilet water, for larger layouts,

we know that in fact literally and physically you are should not be Municipal treated water. So now what

building Mumbai. So that Mumbai should be of our we are treating in the sewage and we are also going to

dreams and Municipal Corporation’s aim is to ensure ensure that the sewage treated water can be reused, not

that people’s vision and aspirations are achieved into for drinking but can be used for flushing. No bodily

your plan. That is how we are moving forward. E.g. we cont a ct but for cooki n g, dri n ki n g we c a n u s e

are having the problem of space constraint in Municipal water. Because for flushing there is more

Mumbai. In the whole development plan of 436 sq. intensive use, lot of the water gets wasted in flushing.

kilometres only 30% roughly 126,127 sq. k.m. is what And if we are treating and reusing this water then our

you and the city deal with, which is basically t h e sewerage system also less drained and less pollution

buildable part. The rest of it is either Sanjay Gandhi in the rivers and lakes. We can keep using our sewerage

National Park, creeks, forests etc. So, in this 127 k.m, water treated. If you make building, it doesn’t have a

how we can make the aspirations of all the 15 million separate pipeline system which connects the sewerage

Mumbaikars to be realised but in the manner which is treated water or rain water harvested to the flushing

both environmentally safe . No other city in this world system, then the poor residents cannot do it, they

faces this kind of challenge and still tries to do its best. won’t spare the crores of rupees in re-building the

You also face a lot of hardships, the corporations had whole building with new pipelines. That is one thing

constantly been criticized that it is not doing its job which we have to make it, just like CFO that NOC has

well. We all are the part of the solution of the problem. become almost essential and now nobody think twice

Corporation is not the problem. We realise how difficult about ensuring fire safety.

it is to solve the problems, that we see from inside.

People do expect from us that we should make Mumbai The same thing about is about the water scarcity, which

far motive able. is too much in future, so we are not really concerned

today. So, let us be concerned proactively today so that will also show model for houses other should re-built.
if all our buildings have recycling systems, where most In last, Shri Pardeshi mentioned that we have all the
of our treated water can be reused for flushing, Mumbai time having the open dialogue both in our office also,
will never run out of water. I would request to take in at our Chief Engineer’s Office, whenever you all come
case of these requirement, that is our second measure up we keep the communication channel open so that
concern both Rainwater and sewage treated water for we can resolve all the problems.
the larger schemes should be undertaken. The sewerage
treatment schemes were running very well but when we Shri Nayan Shah mentioned that we all would like to
made a check, almost 70% are running but 25 to 30% promise you that we will make a film on ‘Thousand
have closed down. Another main reason to close down Years of Watering Mumbai’ as just what you said and
that initially the developers were making it run but once bring how the water is coming and what we need to
it is handed over to society, society is to get cheap water do to make it for thousand years.
from the Corporation then they think why to pay the
cost of the sewerage water treatment plant, and 9. Address by Shri Nayan Shah - President,
electricity and all. So now they have a lesson coming. All
such societies will not be getting drinking water from us. CREDAI MCHI
They will be getting only half of their connections. That
warning you can put as a part of the sale deed also, when Shri Nayan Shah, President presented the Members
you are selling the flats, where there is in-built sewerage
treatment plant. Another thing to ensure that the the future goals, what we want to do, a score card
flushing systems are not at all connected to the regular
water support. There is also sewerage treatment, which what we are planned to do and what we have
can treat the water through garden, that will be permitted
in your recreation open spaces, you don’t need to find accomplished. For
some space inside your complex. Because they treat the
water through the soil and allow to garden to drown it. improving Business viability, we have already achieved
It is up to you, which system you choose, one advantage
of that system it has very small electricity charges and it many things but what is left to be done is;
creates a garden around it.
• Land ASR to be rationalized across MMR,
Shri Praveen Pardeshi further mentioned the issues
T1 to T5, that we have tried to resolve and we are • All premiums to be rationalized at 25% of RR.
more on the liberal side to make things happen so
that you can start the development which is some- • LUC: to ensure that LUC is charged on land and
where at a standstill. Reduction of the rates to the
FSI and reduction in the interest rate, the objective is not on plot potential.
to try to restart the construction. These concessions
are not available for more than 2 years, so one of the • Staircase and lift lobby premium to bring down to 15%
good thing that developers can do is to try to give a
spurt now so that by the time two years finished most • Reduction in open space Deficiency
of your permissions and everything is in and you can
start delivering after two years, whatever you have in These are our 5 goals for making business viable.
the pipeline.
Shri Nayan Shah further mentioned that a Reporter
Shri Pardeshi further mentioned that we are thankful from DNA had called up him and he just gave a figure
for the generous contribution made by CREDAI-MCHI 3900 crores of stamp duty were collected between
towards the Kerala Relief Fund also for the Kolhapur January to July in 2019 and same amount in 2018. So,
Sangli Flood, which happened in our own State. The he asked where is the slow down? Shri Nayan Shah
initial part which was undertaken was very helpful but mentioned that last year the Stamp Duty was 5% and
something permanent, like you people had built a with 5% the State has collected 3900 crores. Now the
permanent village in Latur. People still remember. Stamp duty has become 6% and still the amount is
So, in Sangli district, we have identified one plot, and 3900 crores with an Amnesty Scheme. So, in my view
around 75 to 100 houses, you people will try to make the business has gone down to 30 – 80%. 20%
a model village, which is both floods resisted. So even reduction is due to hike in Stamp Duty, and second is
if the floods come, it will be above the flood line and it the amnesty. So, this is the slowdown in the industry
today.

Another goal is to make GST at 1% and stamp duty
on the PMAY projects to be reduced to the cost of
just Rupees 1000. For Affordable Housing projects,
our goal is to have stamp duty to Rupees 1000 and
have PMAY workshops at all places to make PMAY
success. Shri Shah mentioned that PMAY scheme is
a very viable scheme, very few people know about
it. Please look into it. The Chamber will also have

another workshop on it. So please look at the option Planning Authority, so premiums were reduced to
of doing, developing your projects under PMAY. 50%. Transition Policy - the future goal is smooth
implementation of Auto DCR and the platform at
About ULC, Shri Shah mentioned that on 2nd August MHADA to ease out the process. Some developers
2019 the Government of Maharashtra issued the GR, were remarked when MHADA was announced as a
we are able to get the order of the Hon’ble Supreme Special Planning Authority, that the highest
Court. So that has been a big achievement. There are difficulties is in MHADA. And we really work towards
few issues on ULC also like the premium is on the it to this approval process come up very fast.
bigger land, so we are trying to talk to them about
extension, about reserved properties that are getting Shri Nayan Shah further mentioned about the RBI issues,
developed, so our goal is on that. And to resolve the that Shri Boman Irani will be meeting with Revenue
small ULC issues that are still coming in the way. Secretary along with CREDAI National to work on
One-time restructuring of all developer loans. For
With regard to Solid Waste Management, the Dumping new projects loans the construction finance to be
Ground issues, Shri Shah thanked Shri Harish Patel for extended and the land is taken as value for financing,
the great work done.. And now we are trying to talk immediate liquidity, Affordable housing definition –
the Municipal Corporation, to identify more spaces, more there are different types of definition like NHB has
lands for the dumping grounds on the side of Nasik, different definition, PMAY has different definition,
Pune and towards Navi Mumbai. In all the regions to GST has different definition. So, we want to bring
find more dumping sites, so that it is very economical change in the Affordable Housing definition, where
for us to do the dumping from wherever we are operating. affordable housing really gets benefits. Another goal
is monetary policy linked bank interest rate and Shri
Other future goals for MoEF; there is a zero draft Deepak Parekh’s suggestions that we need to spur of
Notification, which has been issued by the demand. So, we are aiming and telling the
Government of India. So, we want to do our suggestions/ Government, if you all recollect about 7-8 years back
objections and make the zero draft. The Zero draft when State Bank of India announced the differential
notification in other words is a kind of an umbrella interest rates, and suddenly the demand was called
of different notification that has come from last 7-8 up, so we are trying to tell the Government that the
years. We need to get MoEF approvals on the mother of all the policies that you want to bring in is
Conceptual plans, we are not getting the conceptual to reduce the home loan rate at 7% and if 7% comes
plan. And the projects upto 1,50,000 meters as a part then automatically demand will be reviving and if the
of DCPR, so that’s our next goal. And the coastal zone demand revives then the whole industry will come
management plan to be finalized so that all the back from its sickness to being an very active industry.
properties which are within 500 meters of CRZ –II,
they all can get developed. Goals for GST: Affordable Housing definition, either
60 sq. meters. or Rs. 45 lakhs. Right now, the definition is
Execution of minimum width of 9.15 meters., there 60 meters and 45 lakhs. We want 60 meters or 45
are hundreds of properties today in Mumbai which lakhs. Or if that doesn’t happen then we suggest to
are affected by this road width of 9.15 meters. and increase 45 lakhs to say 75 lakhs or 1 crore at least
especially in Ghatkopar, the town planning schemes for MMR. Shri Nayan Shah mentioned that our State
1.9 meters., so we are trying to work. Shri Nayan Shah Finance Minister, Shri Mungantiwar has already said
mentioned that Hon’ble Municipal Commissioner, had that he is going to pitch for 75 lakhs. Then no GST
just issued the notification, where the local AE BP on rehab component, which is the very big thing. See
survey will be doing the suggestions/objections and today, 95% of the development in Mumbai is
we will be directly putting up the road width redevelopment. One of our developers’ association
extension to the AMC for the sanction of the RL. have just given a statistic that today GST in
redevelopment in Borivli, it will be about 2500 Rupees
Regarding SRA, Shri Nainesh Shah, Shri Domnic Romell per sq.ft. and if you have redevelopment in Khar &
and Shri Ricardo Romell are doing great work. Their Santacruz, i.e. in Mumbai city, it will be about 5000
future goals are to ensure the 33/38 procedure is Rupees and this is to be paid at the time of OC. So,
enforced in a timely manner. Simplification of 144 this is a very big thing. Then Commercial leasing GST
procedure and online approval system for SRA that rate to be brought down to 5% from 18% because
needs to be implemented. all these benefits are for only residential. Option of
8% with ITC. Right now, the scheme is on composite
For MHADA, it is now being declared a Special scheme, 1 % and 5% but there is no option. So, we

are trying to push to give the developer an option that this issue and within few days we got that circular out.
either he does on composite scheme or he goes So what I want to tell you, that this Government has
under the ITC scheme. All land transactions which kept its eyes and ears open, there is no doubt a lot of
were under service tax regime, which was the things are happening, there is lot of pain with us but
predecessor of GST, all land related transactions, with patience, with persistence, with our efforts we
there was no service tax but in the GST regime some will be able to finally achieve what we want to do.
of the land transactions involves GST. What we want
to say that all such land transactions where no service Regarding MahaRERA, Shri Satish Kumar, Ms. Jaya
tax was charged, GST also should also not be charged. Sawlekar and the team has promised that all the 6900
or 7000 projects that are registered under RERA, every
Civil Aviation – The final height of the building, is eligible month we are calling up them, sending them SMS, we
for, should be made available in a time bound are informing them that in your RERA registration,
manner, we are strongly working on that. The Navy you have not complied with the certain compliances, if
NOC - Thanks to Government of Maharashtra, issued you don’t upload the penalty is 5% of the total cost.
the notification that you should keep 500 meters. Sometimes when we are so busy in other work, we
Thanks to Shri Gopal Shetty, Smt. Manisha Chaudhary, forget about uploading on the MahaRERA website.
Shri Yogesh Sagar. The Government Maharashtra said This service also, we are going to start for all our
that since this notification is not underworking the members.
defence head, they told the Municipal Corporations
that to continue to keep only 10 meters open space. The increase in the Membership were presented to
Govt. of Maharashtra wants to be with the Developers the Members. Very soon we will be going to RERA
and see that the development goes smoothly. There Membership, Shri Gautam Chatterjee has said that
is no increase in premium/RR rates and Ease of Doing every person who registers the project in RERA, he
Business in Revenue Department. Today lot of Revenue should be a member of either NAREDCO,
Department like sub-division, amalgamation, TLR survey, CREDAI-MCHI and Thanks to Shri Rajesh Prajapati
getting the name on the PR Card in Accommodation and the team, we are trying to fix Rs.10,000 for per
Reservation, Public Parking or whatever you hand RERA Project Membership. That way also we will be
over, the name has to come on PR Card. So, Ease of increasing our Membership strength
Doing Business in Revenue Department should be
there. The Secretariat Staff shall strive to strike a strong
stakeholder bonding and have a year-round calendar
Shri Nayan Shah further mentioned about the statistics of events to foster a strong Member Engagement
of the GR/Circulars/Notification issued; the State Program. Create a self-sustaining Association.
Government issued about 43 Notifications – UDD People will remember the name of Association and
issued 35, Revenue and Forest Dept. issued 4, Housing not the Presidents, so the goal is that people should
Department – 2, Co-Operation, Marketing and Textile remember CREDAI-MCHI as an Association and not
Dept. 2 and the MCGM has issued 23 Circulars, SRA the president and team. The staff has to be so strong
has issued 2 Circulars. The State GR which have been that they will be able to take the goals, the vision, the
issued are 19. So, all these notifications, GRs, Circulars mission, whatever we want to achieve should
are available on the MCGM website, so we request all continue, with a very strong organizational set up.
of you to please go through the MCGM website.
Shri Nayan Shah thanked all the Past Presidents, Shri
Shri Shah also mentioned that in last one year, we had Vimal Shah, Shri Dharmesh Jain, Shri Paras Gundecha,
made 609 representations to different departments. Shri Pravin Doshi, Shri Mofatraj Munot, Shri Rajni
318 representations to the Central Government and Ajmera, whenever we called upon them, they were
291 representations to the State Government. I must always there to help us. They still feel that they are
thank CREDAI-MCHI Secretariat. Shri Sanjiv Chaudhary Committee Members, and ordinary members. There is
and Shri. Harish Gupta, after our Hon’ble Prime no such ego. Thank you so much for that.
Minister’s new Government came up, they straight
away went down to Delhi and they did many Shri Nayan Shah mentioned that there are different
appointments with the Hon’ble Prime Minister’s Office, Associations with whom we are working like PEATA,
Civil Aviation, Defence. One great thing happened in BDA, NAREDCO, FICCI, CII. We have taken basically
Thane also, during the meeting at Sahyadri, we told a stand that we have no egos, we are working with
Hon’ble Chief Minister that Slum TDR is not available, anybody and we just work together to get the issues
we substitute that by construction TDR, we put up to be resolved.

10. Knowledge Session: Address by Shri Shri Nayan Shah said, even for our institute and for
our people, we are doing a lot of work with PMO,
Kartik Pandit, Partner – Practice Development and what I would like to convey here is that here is the
Consultancy and Shri Satej Salvi, Partner – Risk Advisory Government which is for all of us, the industry and the
of KS Aiyar Group on ‘Build Ourselves, Build the challenges that we are facing, we had also approached
Industry’ at the PMO, I can assure you that we have been heard
in right quarters and not less than three committees
Shri Kartik Pandit, Partner – Practice Development have been set up and issues have been addressed. So,
and Consultancy welcomed all the members and what I believe is that we are all staying or we are facing
addressed on How to Build Ourselves, Build the the tipping points and it’s for us to grab that tipping
Industry. You can’t buy happiness but you can buy point and we are able to convert whatever issues are
real estate, and that’s kind of the same thing. He gave there into our benefit.
some examples like Baba Ramdev and Patanjali 3-4
years back, could have turnover of 10,000 crores and 11. Vote of Thanks by Shri Deepak Goradia
challenges and competitions in the world. We are also
living in time where the Guru Shishya Parampara but – President Elect
now the teachers fear the students. The Hon’ble Shri Deepak Goradia, President elect mentioned that
Finance Minister tells us that cars are not being our Association, CREDAI-MCHI is 37 years young
bought because we all are travelling from Ola and today and nearing to go ahead. On this august occasion of
the Maruti’s Chairman has again said that this is true. 37th AGM, I am privileged to give vote of thanks to
After the rotation, 99% of statutory audit in the country, everyone and our Chief Guest, respected Municipal
is now, not with the Indian Firms. So, what I am trying Commissioner, Shri Pravin Pardeshi Saheb who have
to tell you is that there is a perception issue that all of spared time and attended this occasion and gave us
us need to face. And we as being in the industry more a short speech about the development of city and he
than 122 years, probably the oldest surviving partnership considered us as a partner and stakeholder in the
in the country. The first Indian CA firm seen in all development and growth. I thank all our Members,
industry, textile other industries, the question is are we Senior Members – Past Presidents who have attended this
reading those signals. My colleague, Partner Shri Satej event. I also thank Shri Kartik Pandit for doing the
Salvi will probably give those tipping points, probably small speech on happiness in the business. I also
it will be of little help to whatever situation that may thank our power partners for their support for this
arise. event. Also thank the Women’s Wing Members, Youth
Wing Members, Procurement Members those who
Shri Satej Salvi, Partner – Risk Advisory mentioned had done wonderful presentations and I thank all the
that as an industry, we are in the business of creating chapters of CREDAI-MCHI for giving the
happiness, and that is where our core strength is. We presentation about their activities. And finally, I thank
heard from the Youth Wing Committee Members in all our team of CREDAI-MCHI staff members who
terms of various initiatives that have been taken, We have worked for making this event a wonderful event.
procure definitely appears to be a very good initiative,
one thing we can definitely doubt for is that in time
like this rightly as Shri Nayan Shah has said the prices are
increasing, and it is important that one has to make
bottle line managements and that is where address
today was structured in terms of understanding as
to what are those key take away and what are those
smaller factors that probably we can help the industry
in the long term and especially considering the youth
wing has taken so many initiatives. The terms are
upgrading traditional business models, targeting the
young buyer, Reforming NBFCs to boost realty sector,
Gaining investor confidence in tough times.

Shri Kartik Pandit mentioned that as the President,

CHANGE OF GUARD

CREDAI-MCHI aims to create 1 Lac New Jobs in next one year;
Announced in the Change of Guard for 2020-21

Deepak Goradia took over as new CREDAI MCHI President with a mission to “Revive MMR Realty” amid Covid – 19
Aims at Building a more Cohesive Industrial Ecosystem in MMR throughholistic advocacy and technological initiatives to enhance stakeholder confidence

Mumbai, 31st August: CREDAI MCHI, the apex body of Indian Real Estate industry.
Real Estate Developers with over 1800+ member As a leading industry body, CREDAI MCHI has consistently
developers present across the Mumbai Metropolitan spearheaded numerous initiatives such as Women’s
Region (MMR), organized its ‘Change of Guard’ with Mr. Wing, Youth Wing, among others, which Mr. Goradia
Deepak Goradia took over as the new president. The intends to build on, in line with the best interests of the
installation ceremony saw the gracious presence of MMR Real Estate sector and its stakeholders.
CREDAI MCHI Management Committee members,
industry stalwarts, dignitaries including Shri Eknath CREDAI MCHI President, Mr. Deepak Goradia in his ad-
Shinde, Honorable Minister of Urban Development and dress said that “ He was extremely privileged to take the
PWD, Govt. of Maharashtra and Dr Jitendra Awhad, distinguished role of being the new President of CREDAI
Honorable Minister for Housing Department, Govt. of MCHI. The last 31 years had been a glorious journey for
Maharashtra. all of us here and we intend on building on this strong
foundation to lead a new era for MMR Real Estate.
Mr. Deepak Goradia, in his maiden address, committed Given the current circumstances brought upon by the
himself to “Reviving MMR Real Estate”, in light of the pandemic, CREDAI MCHI is highly determined to reignite
prevailing slowdown brought upon by Covid – 19. Taking the progress of the industry which acts as the strongest
CREDAI MCHI’s 3 and half decades plus strong legacy pillar of the state’s economy. We want to bring back the
forward built by his predecessors, Mr. Goradia aims to smiles on the faces of not just our developer members
create 1 lac jobs in the next one year through its 1800+ but the entire eco-system, including homebuyers and
developer members by way of new projects and initiatives. the 225+ allied industries who are closely associated
Strengthening CREDAI MCHI’s commitment towards the with us. Subject to a conducive business environment,
growth of the Maharashtra Economy, Mr. Goradia and his we aim to create 1 lac new jobs, with a potential cascading
team intend to build a stronger advocacy ecosystem and aim effect of generating thousands of more jobs in the allied
to address the most pertinent issues currently acting as major Industries in the next 1 year, further strengthening
hurdles for the sector. The new leadership team has prepared our commitment towards MMR stakeholders and the
a comprehensive roadmap for reviving MMR Realtyas well as growth of Maharashtra’s economy.”
the confidence of stakeholders, and will enhance its focus on Former CREDAI MCHI President, Mr. Nayan Shah,
improving knowledge and skill of member developers through shared his comment and congratulated Mr. Deepak Go-
Certification Courses, Webinars, Knowledge Sharing, Skill radia and shared his best wishes for embarking on this
Development programs etc. Under the leadership of Mr. extremely exciting journey as the new President of CRE-
Goradia, the new team will also explore more opportunities DAI MCHI. The last two years, and especially the last
to continue working with statutory bodies like MahaRERA, few months, have been somewhat tumultuous for the
Mumbai Grahak Panchayat etc, to collectively work towards entire real estate fraternity. Given Mr. Goradia’s
establishing a more conducive industrial environment, while experience and stature in the sector, we all are extremely
also continuing to undertake comprehensive skilling initiatives confident and look forward to the dawn of a new era for
to create and sustain a talent pool of Skilled labor for the MMR Real Estate under his able leadership.”

MEETINGS OF THE YEAR

This year CREDAI-MCHI hosted fruitful meetings here’s a list of the meetings conducted:

Meeting with Sudhir Mungantiwar

On 18th September 2019, CREDAI-MCHI had a very
productive meeting with Shri Sudhir Mungantiwar
– The Finance Minister of Maharashtra at Sahayadri
Guest House regarding the matters related to GST. He
assured the attendees that GST shall not be required
to be paid on the rehab area. It was also stated that
the issue would be raised in the upcoming GST council
meetings with an aim to resolve the issue at its earliest
in a meeting with the Finance Minister of India, Nir-
mala Sitaramanji.

Meeting with Pravin Pardeshi

On 29th September 2019, a meeting with Shri Pravin
Pardeshi- Municipal Commissioner MCGM was con-
ducted in his office. It was attended by Rajnikant
Ajmera, Pravin Doshi, Mayur Shah, Dharmesh Jain,
Deepak Goradia amongst others. This meeting was
then followed by other meetings held on 23rd 2th
January 2020 and 12th March 2020.

Meeting with Shri Rajiv Jalota

On 1st October 2019, a fruitful meeting with Shri Ra-
jiv Jalota (IAS), Commissioner of State Tax was held
regarding the GST issues. It was attended by Umang
Kuwadia, Vilas Kothari and Sanjiv Chaudhary.

Meeting with Shri Milind Borikar (I.A.S.)

A productive meeting was held with Shri Milind Borikar (I.A.S.) in New Administrative Building Kalanagar, Bandra
East. Attended by Sanjay Aakhade (Jt. Commissioner), Kiran Shinde (Dy. Commissioner), Nayan Shah, Paras Gunde-
cha, Sanjiv Chaudhary and Harish Gupta, discussed the process of clearing all the applications received in respect to
the ULC approval. They also talked about making the entire process simple and time bound.

Meeting with Shri Jitendra Bhople

On 5th November 2019, a fruitful meeting was held with Shri Jitendra Bhople- Jt Director Town Planning Valuation
– Mumbai to discuss the points regarding the ASR rate for 2020-21 with MCHI representatives Shri Sanjiv Chaud-
hary along with Shri Harish Gupta and Shri Sanjay Phope.

Shri Bhople initiated the meeting with the previous year’s provisions stating the RR rate to be reduced so that the
ASR for next year can be reduced. It was also discussed to realign the land rate to 25% of the sales rate. Other issues
discussed at the meeting included Supplemental Development Agreement Valuation, Refund of DA cancellation
and Stamp duty on already registered POA, The Slum plot evaluation and a separate appropriate column for IT IteS
in the ASR table. The Developer association was requested to meet IGR and present all the points discussed.

Meeting with Pranita Tipre

A meeting was held with Dr. Pranita Tipre, in-charge of Health Control, MCGM with regard to eradicating Tuber-
culosis. CREDAI MCHI sent emails to all the members seeking funds worth 5 Lakh to take this initiative forward.

Meeting with Dr Jitendra Awhad, Hon’ble
Housing Minister

On 17th January 2019, a round table conference was
held under the Chairmanship of Hon’ble Minister of
Housing Dr. Jitendra Awhad. Attended by various dig-
nitaries, the meeting talked about the issues regarding
the better development of SRA Schemes. These issues
were discussed on 4th February 2020 followed by an-
other meeting on 11th February.

Meeting with Hon’ble Housing Minister on 21st Jan-
uary 2020. CREDAI-MCHi had a discussion on issues
related MHADA redevelopment. Meeting attended
by : Sanjay Kumar, IAS, ACS Housing Dept.; Milind
Mhaiskar (IAS), Nayan Shah, Shahid Balwa, Boman Ira-
ni, Nainesh Shah, Nikunj Sanghavi, Gurminder Singh
Seera, Satish Kumar, Harish Gupta.

Meeting with Hon’ble Minister for Housing on 04 Feb-
ruary 2020. CREDAI-MCHI delegation lead with Nayan
Shah, Shahid Balwa, Vyomesh Shah, Nainesh Shah, Vi-
nod Goenka has detail Discussion on SRA Issue.

Meeting with Jayant Patil

On 15th January 2020, a productive meeting with the cabinet minister of Water Resources, Shri Jayant Patil was
conducted in his office. Meeting was attended by Shri Shahid Balwa and Shri Harish Gupta. They discussed regard-
ing the societies that cannot be developed due to various reasons and also requested the Minister to make amend-
ments in the Societies Act of 79A.

Meeting with Anil Diggikar

On 20th January 2020, a meeting was held with Anil Diggikar- principal Secretary Environment was held at his of-
fice. Attended by, Sukhraj Nahar, Bandish Ajmera, Deepak Goradia, Mayur Shah, Nainesh Shah, Satish Kumar, Har-
ish Gupta. Suggestions and issues regarding the process of Environment Clearance were discussed at the Meeting.

Meeting with Nirmala Sitharaman

On 7th February 2020, the Hon’ble Minister of Finance & Corporate Affairs interacted with various members of
trade, industry and professionals regarding the budget proposals presented in the parliament. In her over two-and-
a-half-hour budget speech, Sitharaman had made a host of announcements including an optional alternate income
tax regime, abolishing the dividend distribution tax, invoking the escape clause for fiscal deficit, hiking deposit in-
surance cover and proposed the listing of Life Insurance Corporation of India.

Meeting with Chief Minister Shri Uddhav
Thackeray

On 10th February 2020, the real estate industry had a
meeting with Chief Minister Shri Uddhav Thackeray to set
up an exclusive committee dedicated to solve the various
woes and issues of the real estate industry. The Commit-
tee will comprises of Housing Minister Jitendra Awhad,
Urban Development Minister Eknath Shinde, Transport
Minister Anil Parab, Chief Secretary Ajoy Mehta, Princi-
pal Secretaries of Finance, Urban Development, Revenue
and the Municipal Commissioner of Mumbai and Thane
along with the heads of MHADA, SRA and representa-
tives from the real estate industry.

E-Meetings with ICICI Bank

In order to get our demand across all the banks, CREDAI-MCHI had started having dialogue with key officials from
banking industry. On June 29, 2020 CREDAI-MCHI had a meeting with Mr. Anup Bagchi Executive Director and
had an open conversation on our various demands.

E-Meeting with SBI Bank

Continuing our dialogue with banks we had a meeting with, Mr. Shreekant CGM, SBI on 3rd July 2020 and made
suggestions to revive real estate.

E-Meeting with Shri Bhushan Gagrani

Meeting with Shri Sanjay E-meeting with Shri Bhushan Gagrani, Principal Secretary UDD along with other officers
from UDD and town planning department on 17th August 2020. CREDAI-MCHI gave presentation on various
issues / suggestion related to DCPR 2034.

Meeting with Shri. Sanjay Kumar, Chief Secretary GOM

Meeting called by Shri Sanjay Kumar Chief Secretary, Government of Maharashtra on 21 August 2020 at 12.30 pm with
regard to suggestion on IT/ITeS policy the meeting was attended by Deepak Goradia, Dhaval Ajmera, Sanjay Phope

Meeting Shri Ajit Pawar Deputy Chief Minister

On 26 August 2020 CREDAI-MCHI had a meeting Shri Ajit Pawar, Deputy Chief Minister along with Shri Jitendra Awhad,
Housing Minister Shri. Jayant Patil, Minister for Water Resources with regard to the societies that cannot be developed
due to various reasons and also requested the Minister to make amendments in the Societies Act of 79A. The meeting
was attended by Nayan Shah, Bandish Ajmera, Deepak Goradia, Boman Irani, Shahid Balwa, Harish Gupta

Meeting with Shri Eknath Shinde

Meeting with Shri Eknath Shinde, Hon’ble Minister for
Urban development department on 10th Feb 2020 with
regard to suggestion related to Reviving the real estate
industry. Th meeting was attended by : Shri Nayan Shah,
Shri Ajay Ashar, Shri Deepak Goradia, Shri Dharmesh
Jain, Shri Nainesh Shah and Shri Rajesh Prajapati

Meeting with Dr. Nitin Kareer (I.A.S.) Additional Chief Secretary – Revenue

on 28 February 2020 with regard to various suggestion on reduction in stamp Duty and reduction in Land ASR.
The meeting was attended by Nayan Shah, Bandish Ajmera, Shahid Balwa, Mayur Shah, Nainesh Shah, Rajni Ajmera,
Pravin Doshi, Boman Irani, Jayesh Shah, Harish Patel, Ramesh Bijlani, Jayesh C. Shah, Shailesh Puranik, Navin Makh-
ija, Domnic Romell, Nayan Bheda, Ajay Ashar, Deepak Goradia.

Meeting Shri Iqbal Singh Chahal (I.A.S.) Principal Secretary (1) UDD

on 04 March 2020 with regard to our suggestion and Issues related to DCPR 2034. The meeting was attended by
Nayan Shah, Badnish Ajmera, Sahid Bawla, Vinod Goenka, Ajay Ashar, Boman Irani, Sandeep Raheja, Domnic Ro-
mell, Sandeep Runwal, Vyomesh Shah, Harish Gupta

MahaRERA

CREDAI MCHI is a certified Self-Regulatory Organisation (SRO) by MahaRERA :
As per the MahaRERA order no. 10 dated 11th October 2019, MahaRERA General (Second Amendment)
Regulation, 2019 dated: 24th October 2019 and MahaRERA Circular No 26/2019 dated 1st November
2019, the concept of Self-Regulatory Organisation (SRO) had been introduced by MahaRERA, for taking
up a membership from any Registered SRO, had become mandatory, with effect from 1st December 2019
for registering any projects with MahaRERA.

MahaRERA Compliances:
MahaRERA has been giving the mandate from time to time to CREDAI-MCHI (Registered SRO) to follow up with
the Non-Compliance Project Proponents (3000 projects). Accordingly, CREDAI-MCHI had followed up with Members/
Non-Members to upload Form 4, Form 5, Form 2A, Commencement Certificate (CC), Projects Expired, etc., The
follow up was done through phone call & by sending e-mails to the project proponents to comply and adhere to the
MahaRERA provisions. Almost, 2100 compliances had been completed and a detailed report had been submitted
to MahaRERA Office.

Conciliation Cases:

Please fine below 8 Benches being conducted for Conciliation Cases :

MahaRERA Conciliation Report from March 2018 till March 2020

Sr. MCHI & MGP Conciliators Allotted Settled Pending For Conciliation Lack of Jurisdiction/
no Cases Cases
Hearing Failed withdrawn/ other reason

1 Mr. Rajnikant Ajmera 36 8 4 14 10
Ms. Veena Gondalekar

2 Mr. Mohan Deshmukh 42 24 11 5 2
Mr. Prakash Modak

3 Mr. Pravin Doshi 43 29 0 13 1
Ms. Anita Khanolkar

4 Mr. Paras Gundecha 40 30 4 6 0
Ms. Sharmila Ranade

5 Mr. Rajesh Prajapati 32 21 0 10 1
Ms. Uday Pingle

6 Mr. Shailesh Puranik 17 7 6 3 1
Dr. Archana Sabnis

7 Mr. Rajesh Gupta 10 0 3 7 0
Ms. Manisha Kulkarni

8 Mr. Bipin Savla 1 0 1 0 0
Ms. Mrudula Chiplunkar

Total Conciliation Hearing 221 119 29 58 15

MahaRERA Conciliation Special Cases March 2019 till Oct 2020

Sr. MCHI & MGP Conciliators Allotted Settled Pending For Conciliation Lack of Jurisdiction/
no Cases Cases
Hearing Failed withdrawn/ other reason

1 Mr. Pravin Doshi 10 2 0 8 0
Ms. Varsha Raut

Total Conciliation Hearing 10 2 0 8 0

MahaRERA Conciliation Special Cases Jan 2020 till date

Sr. MCHI & MGP Conciliators Allotted Settled Pending For Conciliation Lack of Jurisdiction/
no Cases Cases
Hearing Failed withdrawn/ other reason

1 Mr. Pravin Doshi 8 0 1 6 1
Dr. Archana Sabnis

Total Conciliation Hearing 8 0 1 6 1

Few glimpse on Settled cases :

Meetings held with MahaRERA : mandatorily update Quarterly
• In order to make the compliance process with our
1. Monthly Review Meetings to discuss MahaRERA Members & Non-Members more effective, it was pro-
Compliances by Project Proponents and Conciliation posed to do Workshop (Hand Holding Session) periodi-
Forum Sessions. cally. Mr.Gautam Chatterjee invited all SROs to do such
Training Programs at their New Bandra Office (Housefin
2. The inauguration Ceremony of Construction Work- Bhavan) on a complimentary basis for a year’s time
ers Training Program was initiated by Maharashtra Build- • SROs shall be responsible for carrying out aware-
ing and Other Construction Worker’s Welfare Board ness and education among its members.
(MBOCWWB) & MahaRERA and Convocation Ceremo- • Encouraging Conciliation rather than Complaints in
ny of Training of Expert Trainer (TOET) Program conclud- the Projects.
ed at Rustom Crown, Prabhadevi on 28th August 2019. • Projects which are stuck in litigations and / or vari-
The Chief Guest, Hon’ble Chairperson of MahaRERA, ous other problems faced the Developers due to which
Shri. Gautam Chatterjee inaugurated the program and they are not able to complete their projects, Mr. Gautam
gave away the Certificates to around 40 Supervisors by Chatterjee requested the SROs to inform the names of
congratulating and motivating all the trainers to train as the developers as MahaRERA could take appropriate
many workers as possible in the next 5 years. The other steps / action to resolve such issues.
Dignitaries who were present for the program and who • SROs main role is to keep trust between buyers
had encouraged the supervisors to proceed further in and developers and mark percentage for projects like
training of workers were Healthy/ Unhealthy.

1) Dr. Vasant Prabhu, Secretary MahaRERA Representations/ Letters to Hon’ble Chairperson
2) Shri. Boman Irani, Chairman, Rustomjee Group Shri Gautam Chatterjee (I.A.S. Retd.):
3) Shri. Chandresh Mehta, Director, Rustomjee Group
4) Shri. Rajesh Prajapati, Past President, RAIGAD and 1. Moratorium of 6 months of all statutory liabilities
Task Owner, MahaRERA. Each and every Supervisor under (Regulation and Development) 2016 and Rules
who had received the Certificates had promised to train and Regulation (The Said Act) made there under due to
from 2000 to 5000 workers in the next 5 years. lockdown in whole Country announced by the Govern-
ment of India as a part of Social Distancing and Isolation
3. CREDAI MCHI had participated in the meetings Measures to Prevent the spread of pandemic of COVID
convened by Hon’ble Chairperson Shri Gautam Chatter- 19 - Corona Virus.
jee MahaRERA with regard to Self-Regulatory Organisa-
tions (SROs). The other Associations which participated 2. Grant of extension of 6 months in project comple-
were, CREDAI Maharashtra, CREDAI Pune, NAREDCO, tion period for all project registered with MahaRERA.
BAI
3. Request to issue Directions under the provisions of
a) 9th October, 2019 – Section 32 and 34 (f) and (g) of the Real Estate (Regu-
• Converting Certain Conciliation Applications to lation and Development) Act 2016 and Rules and Reg-
Suo-Motu Complaints by MahaRERA, where they took ulation made there under to facilitate the completion
opinion from above associations including Mumbai Gra- of an ongoing real estate projects and also for Healthy,
hak Panchayat (MGP). Transparent, Efficient and Competitive Real Estate Sec-
tor during the post COVID 19 pandemic.
• The need for Self-Regulatory Organisation (SRO) for
the promoters’ organization was emphasized during the Impact of COVID 19
meetings held with the Associations. 1. “Training the SRO Secretariat Staff” at MahaRERA
Office including all 5 CREDAI-MCHI Units Secretariat
b) 29 Nov 2019 – Staff to attend the training programme, got cancelled.
• How SRO needs to be operated in MahaRERA por-
tal. 2. “Handholding Session”, on Wednesday, 18th March,
• All Projects registered with SRO’s, Compliance pro- 2020 from 03:00 pm to 05.00 pm at MahaRERA Audito-
cess to be periodically updated. Ensuring active partici- rium with regard to, Creating Awareness on MahaRERA
pation in skilling initiatives & to encourage the certified Compliances amongst our Members/ Non Members.
experts to train more workers. Had received 100 confirmations for this Seminar but it
was cancelled in the last moment.
c) 29th February, 2020 –
• All SROs to periodically follow up with its members 3. Many MahaRERA Conciliation cases is on hold since
to comply the various Compliances of the projects with- March 2020.
in the stipulated time. All project proponents should

REPRESENTATION

Total Representations (19-20) 613
Central Government 115
Banks 250
State Government 248

STATE Government No. of representations
Departments/Authorities submitted

Chief Minister 30
Chief Secretary 10
Urban Development Dept. 40
Revenue & Forest Dept. 23
Housing Dept. 11
MCGM 48
SRA 13
Collector 11
Town Planning 2
Environment 18
Industries / ITeS 8
MahaRERA 4
MMRDA 6
MHADA 4
Other Municipal Corporations 8
GST/Sales Tax 5
IGR 7

TOTAL 248

CENTRAL Government No. of representations
Departments/Authorities submitted

Prime Minister 4
Finance 14
MoEF & CC 3
GST Council & GST Fitment Committee 80
Airport Authority of India 1
Civil Aviation 5
RBI 4
Urban Affairs 4

TOTAL 115

Banks, HFCs, NBFCs 250

All Representations are now available at :

CREDAI-MCHI IMPACT

WORKSHOPS & SEMINAR

STRESS PROJECTS FUND

In January 2020, an interactive session was conduct- Managing Committee Members Mr Dharmesh Jain -
ed on Stress Projects Fund at MMRDA Auditorium former President, Mr. Deepak Goradia - President and
to help the developers who wanted access to “Stress Mr. Pritam Chivukula -Hon. Secretary .
Projects Fund” that was announced by the Hon’ble Fi-
nance Minister Mrs. Nirmala Sitharaman. A presentation on ‘SWAMIH INVESTMENT FUND I’
was given which talked about the Special Window for
Addressed by Mr. Irfan Kazi - CIO, SBICAP, the ses- Affordable and Mid-Income Housing Fund.
sion was attended by the members of CREDAI MCHI’s

AERODROME SAFEGUARDING

On 6th November 2019, a workshop on “Aerodrome Shri Manoj Awasthi, Shri Sanjiv Chaudhary and Shri
Safeguarding” was organized by AAI under the chair- Harish Gupta. Members from CREDAI Pune and Shri
manship of Regional Executive Director – Western Dilip Sanghvi and Shri Yomesh Rao from PEATA.
Region, Airport Authority of India.
The workshop was attended by members from AAI- At the workshop, presentations were made by AAI
WR, AAI Delhi, MIAL, state airport operators like Re- that discussed the Aerodrome Safeguarding mea-
liance, Infra, MADC etc and various planning authori- sures, Obstacle Control, a detailed process of NO-
ties – MCGM, SRA, Mhada, MMRDA, CIDCO, NMMC CAS2 application amongst others. These presenta-
and PCMC. On the behalf of CREDAI MCHI, the work- tions were followed by a detailed presentation by Shri
shop was attended by Shri Boman Irani, Shri Domnic Kunal Chheda who represented the Real Estate Indus-
Romell, Shri Haresh Chheda, Shri Prakash Bavisker, try on behalf of CREDAI.

RED – REAL ESTATE DIALOGUE

An interactive platform that hosted various speakers from all walks of life to see the person behind the vision and
mission of doing grand things. Some of the speakers included Boman Irani - Rustomjee, Khushru Jijina - Piramal
Capital, Irfan Razack - Prestige, JC Sharma - Sobha, Jitu Virvani - Embassy, Gautam Chatterjee - Maha Rera, Ajoy
Mehta - Chief Secretary and now Abhishek Lodha - Lodha Group.
Powered by Air conditioning Partner, Johnson Controls- Hitachi air conditioning India Ltd & Construction Partner
Knest Manufacturers, on 24th January 2020, a session with Abhishek Lodha was held.
Abhishek Lodha is the man behind the iconic “World One- Tallest tower in India” RED gave the audience to interact
with the man behind a glorious brand and the vision of always keeping Mumbai first. He talked about computing
data for the unsold inventory and automobile industry in regard to the Real Estate Industry.

WEPROCURE

A PORTAL FOR THE INDUSTRY, OF THE INDUSTRY AND BY THE INDUSTRY

At the 37th Annual General Meeting (AGM)
held on September 19th in Mumbai, the apex
developer body launched Weprocure.in – a pro-
curement portal to facilitate proper communi-
cation and encourage business between real
estate developers, allied industry and their pro-
curement teams with the aim to benefit from
aggregated price discounts.
The main objective of ‘WeProcure.in’ is to en-
able developers to directly interact with indus-
try partners who supply raw material and ser-
vices and get the best deal for the finest brands
all under one platform.
The Association aims to get all the masterminds
under one roof with this Procurement Forum to
help, enhance & share their industry knowledge
with one another. The vision behind this portal
is to create procurement as a subsidiary indus-
try of the Real Estate Sector and subsequently
build a Powerful Procurement Wing.



CREDAI MCHI BIZNET NAVI MUMBAI

18TH OCTOBER,2019 - FORTUNE SELECT EXOTICA

One of the most Successful BIZNET initiated! Akshay Agarwal. The first session was inaugurated
BIZNET-ULTIMATE business & networking platform in the presence of Prakash Baviskar, President, CRE-
by CREDAI -MCHI for the Real Estate Industry on DAI-MCHI Navi Mumbai Unit, Manoj Awasthi, Secre-
18th October 2019, at Hotel Fortune Select Exotica, tary- CREDAI-MCHI Navi Mumbai Unit, Kiran Bagad,
Navi Mumbai. The platform was attended by over 170 President- CREDAI-MCHI Raigad Unit, Niku Patel,
well-known owners and their teams along with pro- Secretary, CREDAI-MCHI Raigad Unit, Vikas Jain,
curement directors & about 25 Allied industry players CREDAI-MCHI Kalyan Dombivli Unit, Laxman Salun-
who offered innovation, technology, affordable green ke, Babasaheb Bhosale, Madhu Patel, Maharashtrian
products and much more. Builders Association, Sangram Patil, Arvind Varak, Ra-
Not only was the event successful but it also met its ob- hul Kadam, Amit Sonavane Followed by 1st session
jective of creating a highly interactive interface between of one on one networking between the Buyers and
Mumbai’s well-known developers, procurement heads Sellers.
and various top allied industry players. It also aimed at The second session was inaugurated by Mr. Rajeev
bridging the demand and supply of the building/con- Jain, Jain, Convener, CREDAI MCHI BIZNET, Mr Ak-
struction material industry and act as a catalyst to solve shay Agarwal, Co-convener CREDAI MCHI Procure-
the issue of bulk buying in the real estate. ment Wing, Mr Rakesh Prajapati, Mr Ateeq Khot, Past
The BIZNET event was scheduled for 2 sessions. President, CREDAI-MCHI Raigad Unit, Mr Jayesh
While the first session included developers of CRE- Gandhi, Secretary, CREDAI-MCHI Raigad Unit, Mr
DAI MCHI- KDU & Thane Unit, the second session Dinesh Doshi, Past Treasurer, CREDAI-MCHI Raigad
included Procurement Wing members of CREDAI Unit, Mr Sunny Lakhani, Past President, CREDAI-MCHI
MCHI Navi Mumbai and Raigad Unit. Raigad Unit, Mr Abhishek Sharma, President, YOUTH,
The event commenced with a traditional lamp light- Mr Karan Sablok, Jt. Secretary, YOUTH, Mr Mayank
ning ceremony amidst the presence of Co-convener Dhakad, Treasurer Mr Arvind Goyal, Chairman

1ST EDITION OF
CREDAI-MCHI E-BIZNET

The 1st edition of CREDAI MCHI E-BIZNET – where ma Jobanputra, Director Procurement - Ashar Group.
business is just a click away, was a unique 3 Day Build- The vote of thanks was given by Mr. Nilesh Puranik,
ing Material Manufacturers Meet to interact with an- Owner Puranik Builders, Co-Convener Procurement
cillary industries across the nation. Wing
The 3rd Day of the event was organised by Mr. D R
Powered by Asian Paints, the other partners included Jalan, Vice President HOD Procurement Sunteck Re-
A B See Brand Advisory, Buildon Plasters PVT, LTD, alty, Mr. Neerav Parmar, Senior Vice President Con-
DECEUNINCK Profiles India, Dorset Group, Goda- tracts and Procurement- Shapoorji Pallonji Real Estate
vari Paints, Kone Elevators, Lazot Technologies, Maini and Mr. Td Joseph, Business Head CREDAI-MCHI. The
Scaffold Systems, NITCO Ltd, RR Parkon & Somany vote of thanks was delivered by Mr. Nimish Ajmera
Ceramics Limited with Creative Partner as Markenzo Director- Ajmera Realty and Convener CREDAI MCHI
Worldwide. Procurement wing.

In the presence of about 311 Procurement teams
across nation, the 1st Day of the event was inaugu-
rated by CREDAI-MCHI President Mr Nayan A Shah,
Mr Deepak Goradia- CREDAI MCHI President Elect,
Mr. Rajeev Jain CREDAI MCHI Biznet Conveyer, Mr
Nimish Ajmera, Procurement Conveyer, Mr Akshay
Agarwal & Mr Nilesh Puranik – Procurement Co-Con-
vener and the Vote of Thanks was delivered by Mr.
Tikam Jain, President Lodha Group.

The Second day was inaugurated by Ms. Punam Ingle
Senior Manager- Godrej Properties LTD and Ms. See-

2ND EDITION OF
CREDAI-MCHI E-BIZNET

Over 500+ companies and individuals participated in real estate body with over 1500+ developers in the
CREDAI MCHI’s E-Biznet; Held to catalyse growth in MMR, strengthens its commitment towards providing
Indian Real Estate a more conducive business environment for Real Es-
In a bid to provide impetus to Real Estate develop- tate stakeholders during the pandemic.
ment in the country, CREDAI MCHI conducted E-Bi- Addressing the event, CREDAI MCHI President, Mr.
znet, an exclusive networking program to re-initiate Nayan Shah, shared his views “CREDAI MCHI has
and strengthen corporate relationships between real consistently been at the forefront of innovative and
estate developers and its allied industries. With the pioneering initiatives and E-Biznet is yet another
sector still struggling amid Covid - 19 and experienc- platform which has successfully provided over 500+
ing a slow pace of recovery, the second edition of the organizations with a definitive way forward in times
meet focused on the theme of catalyzing industrial of uncertainty. CREDAI MCHI takes great pride in
and economic growth, thereby supporting and facil- supporting the Indian Real Estate Eco-system and
itating real estate businesses and boosting sales as a ensuring that all our industrial stakeholders navigate
consequence. through this pandemic.”
With over 500+ companies and organizations attend- Shri Rajeev Jain, convenor, CREDAI MCHI Biznet,
ing the virtual dialogue, E-Biznet witnessed a number said “We are extremely elated and proud to conduct
of industry firsts and initiatives. Given the dire finan- the second edition of E-Biznet. By bringing real es-
cial situation of developers owing to minimal demand tate stakeholders on one platform, CREDAI MCHI has
and limited cash flows, presentations made by leading re-initiated and enabled B2B conversations to provide
allied industry players included options for develop- a significant stimulus to Indian Real Estate. Building
ers to flexibly structure payment mechanisms in the on the success of the first two editions of E-Biznet,
form of deferrals whilst providing avenues of barter as we hope to conduct many more such networking
a means to complete transactions and fulfil construc- meets and opportunities and helping the real estate
tion obligations. to arrest the slowdown brought about by Covid – 19.”
The 2-day session held by CREDAI MCHI, a leading