40TH CREDAIMCHI AGM REPORT 2022

Annual Report 2021-22

MMR NXT

MAXIMISE
MODERNISE
REVOLUTIONISE

EMPOWERING REAL ESTATE

THE VOICE OF
REAL ESTATE
IN MMR

Ensuring and enhancing the vitality of the Real Estate Sector

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Table of Contents

VISION ����������������������������������������������������������������������������������������������������������������������� 04
Mission �������������������������������������������������������������������������������������������������������������������� 05
Message from the President- Mr. Boman Irani ������������������������������������� 06
Message from the Secretary-Mr. Dhaval Ajmera ������������������������������� 08
Message from the Treasurer-Mr. Pritam Chivukula ��������������������������10
Message from the COO- Mr. Keval Valambhia ������������������������������������������12
Past Presidents ���������������������������������������������������������������������������������������������������14
CREDAI-MCHI Managing Committee 2022-23 ������������������������������������������������15
CREDAI-MCHI Youth Wing Committee 2022-23 �������������������������������������������� 20
CREDAI-MCHI Women’s Wing Committee 2022-23 ����������������������������������������21
CREDAI-MCHI Procurement Wing 2022-23 ����������������������������������������������������22
List of Task Owners of CREDAI-MCHI ������������������������������������������������������������23
Minutes of the 39th AGM ��������������������������������������������������������������������������������� 24
CHANGE OF GUARD �������������������������������������������������������������������������������������������������28
New Initiatives Under CREDAI-MCHI ��������������������������������������������������������������29
· CERTIFICATE COURSE: REAL ESTATE MANAGEMENT �����������������������������������������������29
· Research Reports �������������������������������������������������������������������������������������������������������������� 30
· Members’ Guidance Cell �������������������������������������������������������������������������������������������������32
· E-Registration Training programme ����������������������������������������������������������������������32
·REPORT AT GLANCE ���������������������������������������������������������������������������������������������� 34
· Government Meetings ����������������������������������������������������������������������������������������������������� 34
· MahaRERA ��������������������������������������������������������������������������������������������������������������������������������42
· REPRESENTATIONS ������������������������������������������������������������������������������������������������������������������47
· CREDAI-MCHI IMPACT ������������������������������������������������������������������������������������������������������������ 48
CREDAI-MCHI Special Knowledge Series Webinar ��������������������������������� 49
CREDAI-MCHI collaborations ������������������������������������������������������������������������� 50
WeConnect & pre-launch of Spaciux Awards �����������������������������������������53
2nd edition of CREDAI-MCHI X-Clusive at Delhi ��������������������������������������� 54
MCHI Premier Leuge (MPL) - 8 ����������������������������������������������������������������������������57
Youth Wing initiatives ���������������������������������������������������������������������������������������62
CSR ACTIVITIES ������������������������������������������������������������������������������������������������������� 66
Women’s Wing: Committed to CSR �����������������������������������������������������������������68
Legal updates ������������������������������������������������������������������������������������������������������73
Managing Committee Member’s Attendance �������������������������������������������75
CREDAI-MCHI Membership Strength �������������������������������������������������������������76
Auditor’s Report 2021 – 22 �������������������������������������������������������������������������������77
CREDAI-MCHI Team ����������������������������������������������������������������������������������������������� 96
CREDAI-MCHI in the News �����������������������������������������������������������������������������������98

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VISION

• To Maximise potential by interaction & participation of members�
• To Modernise communication & processes to improve output�
• To Revolutionise thinking & business practices to be compliant & profitable�

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MISSION

• To Maximise the outreach by expanding footprint of CREDAI-MChI with
focus on increased participation of stakeholders�

• To Modernise the industry by building a stronger ecosystem with an aim
of creating centers of excellence for up skilling, continuous professional
development for the ever-burgeoning MMR�

• To Revolutionise with ethical business management and thought provoking
initiatives in line with the best interests of the MMR Real Estate Industry�

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Message from the president

MR. BOMAN IRANI

My association with CREDAI-MChI acquired an interesting dimension when I took over as its
president� I am honoured to lead this apex developers’ body which has had a glorious legacy
of 40 years� The experiences of the past eight months has been enriching and I am extremely
grateful for the trust bestowed on me as well as for the encouragement and support that I
continue to receive since being elected�
While it’s a huge privilege, the position brings with it its share of responsibilities and challenges,
which I have been trying to fulfill to the best of my ability� This message in the annual report
also provides me with an appropriate opportunity to acknowledge and appreciate the work
done by our past president, Mr Deepak Goradia, who has been a guiding force in the holistic
development of the Mumbai Metropolitan Region and the industry, especially at a time when
everything was in a state of flux�
It’s been assuring to have Dhaval Ajmera around, along with an able strong team, also lead
by Keval Valambhia, as we work towards achieving the vision of ‘Maximise, Modernise and
Revolutionise’ the MMR region in the next few years� It also helps that the Real Estate Sector
has been picking momentum and making record sales� business volumes and cashflows have
picked up in the early quarters, and realty experts expect business to grow further in the
coming six-eight months which also takes into account the festive season that’s taken off with
Ganesh Chaturthi celebrations in Mumbai towards the end of August 2022�
The revival process of the MMR region during by CREDAI-MChI has included development
of our industry and major networking with Government office-bearers, key stake holders
and bureaucrats, which included NCp president- Shri Sharad pawar, new Chief Minister Shri
Eknath Shinde, haryana Chief Minister Shri Manohar Lal Khattar, GOM’s principal Secretary,
Environment Ms Manisha Mhaiskar, Municipal Commissioner, MCGM, Shri Iqbal Singh Chahal,
MahaRERA Chairman Shri Ajoy Mehta, Mumbai Commissioner of police Shri Vivek phansalkar
(IpS), Shri Vishwas Nangre patil and SRA CEO Shri Satish Lokhande among others�
We brought their attention to several issues related to the Real Estate Sector, which included
the levy of 1% metro cess on Stamp Duty for two years, instalment scheme for MhADA
redevelopment, repeal of MOFA, time-consuming process of issuance of environmental
clearances to projects in the MMR region and delay in the process of issuance of MahaRERA
registration number, etc�
We’ve had some major successes to be proud of so far, which include the MCGM extending
the instalment policy till September 3, 2022 and rationalisation of the CFO Capitation Fee� The

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most important accomplishment is that the built-Up Area (bUA), once confirmed, will not be
charged in future amendments�
CREDAI-MChI’s Women’s Wing and the Youth Wing have also been active in organizing several
interactive activities like RED Talks, webinars, as well as health camps and registration of
construction labourers� In fact, the Women’s Wing has been proactive in interacting with
students in a major way – either through interactive sessions or conducting site tours for the
budding architects and engineers at places like hubtown-25 South and Marathon Group & Adani
Realty sites� They have even come out with a special initiative, ‘Ujjwal – brighter Tomorrow’
for students who’ve won scholarships� The collaboration of the CREDAI-MChI Women’s Wing
with the Maharashtra building and Other Construction Workers Welfare board (MbOCWWb)
has been equally impressive as it has resulted in the distribution of registration cards among
construction workers and labourers at different sites of our member developers� All these are
initiatives that help empower people from different strata of life�
The Youth Wing has been supercharged under the able leadership of Naman Shah and have
come out with exemplary activities like visit to Coastal Road project, Metro Line project,
hyderabad Study Tour, interacting with mentors like Gautam Singhania, Chairman Raymonds
India, Ramesh Damani etc� The launch of a Certificate Course in Real Estate Management is
also significant as it is indicative of the strides the industry has made in recent times� I must
acknowledge the hard work and vision of our COO Shri Keval Valambhia and his able team for
such great initiatives and achievements�
Last, but not the least, my heartfelt wishes and gratitude to the able team of CREDAI-MChI,
who are committed and steadfast in their service to the Chamber, and have made it easy for us
to achieve our goals for the industry� A renewed website, interesting blog series are also other
great initiatives of Chamber this year�
It is my belief that this kind of strength and cohesiveness within the Chamber will help achieve
our goals for the city much sooner than envisioned� Along with team CREDAI-MChI, I look
forward to working together with you, our members, and making it a collective success�

Thank you!

BoMAn IRAnI

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Message from the secretary

MR. DHAVAL AJMERA

It has indeed been a great pleasure to serve as the Secretary to CREDAI-MChI, which has
maintained more than a four-decade old legacy as the voice of the real estate industry� In fact,
I couldn’t have asked for a better time to serve the Chamber as the months gone by has seen
a kind of transformation taking place in the market�
What a time to be in the real estate� The sector has become a landscape of positive activity
with developers announcing numerous building projects and also making record gains� It is
as though the bleakness of the pandemic years happened in another time zone and world� A
lot of the credit should also go to the support from the government and its industry reviving
initiatives�
The dynamics of the evolving real estate sector have been aptly covered by the series of
CREDAI-MChI Research reports� The highlight this year, included the CREDAI-MChI &
Truboard partners’ house purchase Sentiment Index (hpSI), a quarterly designed to capture
future home buying plans of consumers and key influencers� It tracks consumer sentiments in
key micro markets of the MMR region� The CREDAI-MChI & CRE Matrix Report was also quite
interesting as it featured analysis on buyers’ origin and their contribution in micro markets of
South Mumbai, Suburbs (Central, Eastern, Western), KDMC, Mira bhayandar, bhiwandi, Navi
Mumbai, Thane, Vasai Virar, and Raigad�
The Chamber, too, has undertaken several initiatives under the aegis of the Chamber’s
president, boman Irani – right from making representations and conducting meetings with
state and national-levels ministers and secretaries over several pending issues related to the
real estate sector, organizing webinars and conducting expos, award events and health camps�
Architect Keval Valambhia, the COO of CREDAI-MChI, has also been providing able support
and helping us achieve our goals for the Chamber�
Some of these high-profile meetings have translated into a successful liaison with local and
government authorities, which include further reductions on premium which have recently

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been restored and bMC setting up an advisory council to address pending issues and aid
development�
The CREDAI-MChI also interacted with state leaders from outside of Maharashtra State� One
such meeting was with Shri Manohar Lal Khattar, Chief Minister and his Deputy Chief Minister
of haryana� With a goal to create a new-age service industries like artificial intelligence and
fintech to attract new talent, they presented a proposal to develop a global city, spread across
almost 1,000 acres of land, along the under-construction Dwarka Expressway�
Our members have also pulled up their socks and are innovating to cater to the constantly-
evolving needs of the buyers, which has changed drastically during the COVID-19 pandemic
and lockdown� home now stands for comfort and security, which is why there is a demand for
sustainable homes that are not only eco-friendly, but spacious and also provide a high level of
automation and Internet of Things (IoT) technology�
Innovations are not just relegated to properties, the tradition continues with MChI-CREDAI
events too� Take the example of the 30th CREDAI-MChI property Exhibition 2022, which is
coming up in October 2022� Renowned padma bhushan recipient, Architect hafeez Contractor
is giving the exhibition a new look by incorporating a lot of green and making room for natural
sunlight�
All these initiatives, including the introduction of certificate course in real estate management,
undertaken by the MChI-CREDAI makes my stint as its Secretary rather worthwhile� however,
none of this would be possible without its members’ and a dedicated staff’s support� Since
CREDAI-MChI has also always been on the forefront of all government activities and played a
collaborative role with them in nation-building, we’ll continue to uphold its tradition of working
for the betterment of the real estate sector and its workers�

DHAVAl AJMeRA

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Message from the Treasurer

MR. PRITAM CHIVUKULA

The year 2022 is turning out to be an eventful one� I am honoured as well as humbled to be
a part of the CREDAI-MChI’s guard that took over early this year under the leadership of
Shri boman Irani� As one of the only recognized Chamber of the real estate industry in the
country, the CREDAI-MChI has been on the forefront, representing its causes actively, pushing
boundaries to bring about changes in it and making them a reality� I feel lucky to have been
serving the Chamber in capacity of the Secretary and then as a Treasurer�
The Chamber is strong in so many areas — be it in making government representations, promoting
industry-related activities and creating awareness of not only its causes and challenges, but
also bringing all the developers together and helping them achieve their business goals� What
helps is that we are also blessed by leaders who are committed to helping the Chamber and
its members achieve their full potential�
If under the leadership of the Immediate past president Shri Deepak Goradia, we saw the
Chamber make remarkable progress under challenging circumstances through his government
representations, membership drives, member’s guidance cell and launch of CREDAI-MChI app
among others, then Shri boman ji is scaling it further� There is a surge of dynamism underlining
the activities he has undertaken to achieve the vision to ‘Maximise, Modernise and Revolutionise’
the MMR region in the next few years�
he has been proactive in taking up numerous industry causes with the Central as well State
government – be it with the ministers or the officials, and we have seen the results so far� Apart
from achieving an extension of instalment policy, the rationalisation of the CFO Capitation
Fee and ensuring that built-Up Area (bUA), once confirmed will not be charged in future
amendments, he has initiated many activities that encourages engagement with the members
of the Chamber�

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The pre-launch of Spaciux Awards brings developers, architects and interior designers together
on one platform was a great event to appreciate the roles of designers in our industry� The
CREDAI-MChI Members’ Guidance Cell is another example of that people-driven engagement�
Members had one-on-one interactions with Shri Sandeep Kotak, MD Mango Advisor as well
as Mr� Samit Shukla from DSK Legal and many other dignitaries� All their queries related
to environment, revenue, financing of projects and legal remedies were addressed by many
experts and stalwarts� The introduction of certificate course in real estate management is
also a huge step for the industry� This is the first such step of the Chamber to contribute
in increasing the skilled work force and to support budding entrepreneurs in the real estate
industry and must be applauded by us all�
Interestingly, all these developments also seem to coincide with the bounce-back of the real
sector� It couldn’t have been better timed� I foresee the Chamber and the industry making great
strides together in the coming months�
My association with the CREDAI-MChI has been an enriching experience having watching it
grow from strength to strength over the years under the watch of such inspiring leaders and an
exemplary staff� I have also been fortunate to work closely with them, watch and learn from
their conduct at the numerous meetings with the government officials as well as the members
of the Chamber�
My priority is to imbibe those qualities by listening and learning from the CREDAI-MChI culture,
and collaboratively work with the members of the Chamber as well as its governance partners
to explore opportunities for the future� I believe that by working together, we can all make a
difference and add another great chapter to the Chamber’s history�

pRItAM CHIVuKulA

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Message from the Coo

AR. KEVAL VALAMBHIA

The CREDAI-MChI has always been in the forefront in highlighting the causes of our members
and developers of the real estate sector� In charting the path to recovery from the pandemic
and other challenges, the industry has showcased and executed the best crisis management
strategies and is now poised to soar� What makes it even more interesting is the coincidence of
the Chamber being in its milestone 40th year and the real estate registering record-number of
sales� I can only feel proud to be a part of such great Chamber�
As we endeavour to get the industry to match its performance to that of the pre-pandemic
times, it’s great to see the Chamber, under the dynamic leadership of its president Shri boman
Irani & hon� Secretary Shri Dhaval Ajmera, making impact in every sphere of the real sector�
Not only has them both & the MChI-CREDAI team represented the industry at high-profile
meetings with ministers of note, but also conducted meetings with every stakeholder that has
a bearing on the industry – this includes town planning, civil aviation, environment, revenue,
MahaRERA, housing, SRA and MhADA, among others�
Several webinars, expos and events have and are being organized, which seems to be creating
a renewed awareness in the industry about key issues impacting them as a group as well as
individuals and citizens of the country� It is galvanizing the industry to be more proactive and
fuel its journey to further progress and development�
While the networking and positive liaison have ensured support of the government through
initiatives like the reduction of Stamp Duty, reduction of premiums and EoDb, there are a lot
of changes taking place simultaneously on a grass root-level� Some of the most revolutionary
initiatives this year include the introduction of the certificate course in real estate management�
The fact that there is a need to initiate a course on the subject captures the entire journey of
the industry that was once an exclusive domain of a few, now it’s mainstream and is seen as
a major contributor to the nation’s economy� We, as an industry, have a right to be excited
with this development� I assure you that your own Chamber will come out with more such
options to offer continuous professional development in partnership with premium academic
institutes and Universities in near future�

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It’s also heartening to see the empowering work being done by MChI-CREDAI’s Women’s
Wing and Youth Wing� The Women’s Wing have gone beyond conducting health camps and
interactive sessions with students� The distribution of registration cards among construction
workers and labourers in different places is especially worth applauding� The Youth wings
has gone out in several spheres of the society and have successfully conducted RED Talks
with the great personalities like Shri Gautam Singhania and have visited the Corridors of
power – The Grand Mantralaya – to make the youth wing members aware of the way of
working of our great bureaucracy and state administration� Initiatives organized for CREDAI-
MChI members and staff were also much appreciated, including the e-registration training
programs at the Chamber’s office� A total of 7 training programs have taken place so far
which has, in turn, training 300+ employees of various members of Chamber regarding the
e-registration process�
One should also spot the work done by the CREDAI-MChI’s able staff who are ensuring that
the organization and its leaders operate like a well-oiled machinery� The dedication and team
spirit of our hard working and dedicated employees is responsible for the Chamber’s continued
success for four decades� I could not miss thanking the senior team members Joseph, Satish,
Lekha and harish who have worked hard to keep the team motivated and focused� I can also
not forget the contribution of each and every team member of CREDAI-MChI and thank them
from deep down of my heart�
but that’s the beauty of work culture prevalent at the Chamber� The vision and commitment of
MChI-CREDAI is shared among everyone– right from the top management to each of the team
member� As we enter the festive season, I pray that this shared focus and partnership sees the
Chamber through more decades of constructive evolution and glory�

AR. KeVAl VAlAMBHIA

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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 Nayan Shah
(2017-2018) (2018-2020)

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credaI-MchI
Managing CoMMiTTee 2022-23

PreSIdeNt IMMedIate PreSIdeNt-elect
PaSt PreSIdeNt

Boman Irani deepak goradia ajay ashar
Rustomjee Group Dosti Realty Ltd Ashar Realtors

VIce PreSIdeNtS

domnic romell Shrikant joshi jayesh Shah
Romell Group L&T Realty Ltd Shree Naman Group

Shailesh Puranik Parag Shah Sukhraj Nahar
Puranik Builders Ltd. Man Infraconstruction Ltd. Nahar Group

hON� Secretary treaSurer

dhaval ajmera Pritam chivukula
Ajmera Realty & Tridhaatu Realty &

Infra India Ltd. Infra Pvt. Ltd.

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credaI-MchI
Managing CoMMiTTee 2022-23

SPecIal PrOjectS

Shahid Balwa Parag Munot rajendra chaturvedi
DB Realty Ltd. Kalpataru Ltd Shreepati Group

raajesh Prajapati dr� adv� harshul Savla Parth Mehta
Prajapati Group M Realty Paradigm Realty

hON� jt� SecretarIeS

Pratik Patel tejas Vyas
Rajesh Lifespaces Oyster Living

jt� treaSurer

Mukesh Patel
Neelkanth Group

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credaI-MchI
Managing CoMMiTTee 2022-23

cOMMIttee MeMBerS

harish Patel Nainesh Shah Bandish ajmera Sandeep raheja
Rajesh Lifespaces Terraform Realty Ajmera Realty & Infra India Ltd. K Raheja Realty Pvt. Ltd.

Subodh runwal rasesh kanakia gautam ahuja deepak gundecha
Runwal Group Kanakia Spaces Realty Pvt. Ltd. AhujaHive Gundecha Builders

SPecIal adVISOrS

abhishek lodha gautam chatterjee ar� hafeez contractor
Lodha Group Ex Chairman, MahaRERA Architect Hafeez Contractor

anuj Puri ankur gupta adv� Parimal Shroff
ANAROCK Group Brookfield Properties Parimal K. Shroff & Co

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credaI-MchI
Managing CoMMiTTee 2022-23

INVItee MeMBerS

Mohit Malhotra jackbastian Nazareth Venkat k� Narayan
Godrej Properties Adani Realty Prestige Group

abhishek kapoor amit thacker gurminder Singh Seera
Puravankara Limited S D Corp Platinum Corp

Munish doshi Nishant agarwal cherag ramakrishnan
Acme Housing Avighna Group Cear Realty

azim f� tapia jayesh c Shah Shailesh Sanghvi
Clover infrastructure Damji Shamji Group Sanghvi S3 Group

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credaI-MchI
Managing CoMMiTTee 2022-23

INVItee MeMBerS

Sunny Bijlani Binitha dalal Sahil Parikh
Supreme Universal Rustomjee Group AUM Developers

Nikunj Sanghvi rushank Shah ricardo romell
Veena Developers Hubtown Pvt Ptd Romell Group

Samyag Shah rushi Mehta rajeev jain harmohan Sahni
Marathon Group Neelyog Group Nirmal Lifestyle Raymond Ltd.

yOuth WINg PrOcureMeNt WOMeN’S WINg
cONVeNer cONVeNer chaIrPerSON

Naman Shah Nimish ajmera Mona ajmera
Shree Naman Group Ajmera Realty & Infra India Ltd. Ajmera Realty & Infra India Ltd.

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CREDAI-MCHI
Youth wing 2022-23

Convener

Mr Naman Shah

Youth Committee Members

Shraddha Goradia Samyag Shah Ricardo Romell Rushi Mehta Aditya V Mirchandani

Aaditya Sanghvi Ashka Pandit Harsh Gupte Manan Shah Purav Shah Shilpin Tater
Aakash Pote Ashna Ajmera Harsh Jagwani Manish Chugh Rahul Jogani Shrenik Seth
Aangi Sanghvi Ateev Gala Harsh Mehta Manish Dedhia Rahul Parekh Shreya Doshi
Aashish Hotchandani Ayushi Ashar Harsh Shah Manish Kothari Rahul Shelke Shrutika Prajapati
Abhishek Parmar Bhuvanesh Sharma Harshil Shah Mannank Raveshia Raj Rughani Shubham Jain
Adarsh Ajmera Binit Shah Hem Shailesh Vora Maulik Sheth Raj Valia Shyamal V Mody
Aditya Shah Binitha Dalal Hemal Gala Mayur S. Ajmera Rajesh Khetwani Siddharth Shah
Advait Narang Chaitya Adani Hemal Jain Mayuresh Sonawane Rajiv Chaudhary Smeet Modi
Ajay Vaswani Chetna Shinde Hira Ludhani Megh Patel Ram Raheja Soham Mukesh Patel
Akash Khetwani Chintan Sheth Hitane Mewani Mehul Rashesh S Shah Soham Narang
Akkshay Jain Deep Chheda Hiten Chhadva Mit Gala Raunak Rathi Sohan Thakur
Akshay Agarwal Deep Jhavar Hitesh Jain Mohammed Israil Ridham Gada Suhan Shetty
Akshay Jain Deepak Chawla Husssain Lalani Shaikh Rikhav Shah Sunil D’costa
Amit Gala Deepak Gundecha Imran Maknojia Mohsin Maknojia Rishi Todi Sunny Lakhani
Amit Haware Dev Thakkar Ishan Karia Monish Shah Ritesh Chawala Sunny R. Bijlani
Amit Hotchandani Devanshu Bansal Ishan Shah Neel Kothari Rohan Chheda Surjit Ailsingani
Amit Kothari Deven Shah Jainil Mehta Nikhil Jadhav Rohan Khatau Tapas Chaturvedi
Amit Lala Dhairya Shah Jash Panchamia Nikhil Manshukhani Rohit Chokhani Tarun Shah
Amruta Jangid Dhaval Ajmera Jay Goenka Nikhil Raheja Rohit Kharche Tejas Jain
Anand Bhansali Dhaval Barot Jay Rajul Vora Nikunj Sanghvi Rohit Vaithani Tejas Vyas
Anand Mane Dhaval Dodiya Jayesh Chauhan Nimit Mehta Ruchit Mehta Tushar Dabhole
Anand Modi Dhaval Parikh Jaymin Shah Nipun Jain Rushabh Chheda Vanel Vakaria
Anay N. Shah Dhaval Savla Jenish Shah Niraj Kamdar Rushabh Shah Vicky Oswal
Anirudh Khandelwal Dhiren Tharwani Jesal Ajmera Nishit Mehta Rushank Shah Viivek M Jain
Anirudh Sawlelar Digant Parekh Jheel Sanghvi Nitin Singh Rushi Ajmera Vijay Thakural
Anish Chawla Diipesh Bhagtani Jigar Ajmera Paarth Cheeda Rushi Timbadia Vijayta Raheja
Anish Jain Dinesh Doshi Jigar Parmar Pakshal Sanghvi Sagar Dargar Vikrant Jhubhar
Ankish Vardawat Divaker Rai Jigar Thakker Palash Shah Sagar Galani Vinay Jain
Ankit Chopra Dr. Adv. Harshul Jitesh Agrawal Piyush Borgaonkar Sagar Rathi Vinay Sanghvi
Ankit Jajoo Savla Joshua Caeiro Prabansh Bansal Sahil Bathija Vinit S Modi
Ankit Sheth Fenil Bheda Juhi Bajaj Prajesh Sahil Parikh Vishal S Jumani
Anmol Mehta Gagandeep Nagpal Kaivalya Shah Pramay Tiwari Sahil Patil Vishal Thakkar
Annirudh Patil Gaurang Parekh Karan Turakhia Pranav Ashar Sahil Vaswani Vivek Mohnani
Anshul Trivedi Gaurav Dedhia Keshav Modi Prateek Patil Samarth Doshi Yash Ajmera
Anuj Goradia Gaurav Gandhi Khilen Shah Pratik Patel Samir Chawla Yash Dwivedi
Anuj Munot Gaurav Pravin Gharat Krish Raveshia Pratik Tiwari Samir Dadia Yash Matlani
Ar.Ajay Nahar Gaurav Purohit Krutam Ashar Pravin Patel Samyak Doshi Yash Mirchandani
Arjun Kapoor Gaurav Sharma Kunal Chheda Pravin Wankhede Samyak Jain Yash Mutha
Arjun Khandari Gaurav Thakker Kunal Kataria Premal Chandrakant Sanjay N Damani Yashraj Kukreja
Arjun Thesia Gautam Modi Kushagra Patel Desai Sanyam Jain Yogesh Mewani
Arun Jadhwani Gayatri Raheja Madhur Gupta Pritesh Jain Saurabh Bhuta Yusuf Patel
Ashish Hotchandani Hafsa Imran Mahek Jain Priyank Hemani Saurabh Shah Zahid Tapia
Ashish Kanakia Hardik Shah Mahir Wadhwani Pujan Dedhia Savia Kuria
Ashiyan Khot Harsh Gandhi Manan Parulekar Purab Doshi Shikhar Sanghvi

{20}

credaI-MchI
woMen’s wing 2022-23

hON� chaIrPerSON hON� VIce hON� Secretary
chaIrPerSON

Mona ajmera Sejal goradia jesal Shah

hON� treaSurer PaSt hON� chPaaISrtPehrOSNO� N
chaIrPerSON

alka doshi rupal kanakia Sonal Shah

PaSt hON� PaSt hON� PaSt hON� VIce
chaIrPerSON chaIrPerSON chaIrPerSON

anuradha Shah richa Shah falguni Shah

{21}

credaI-MchI
proCureMenT wing MeMbers

2022-23

cONVeNer
Nimish ajmera, Ajmera Realty & Infra Ltd

cO-cONVeNer
akshay agarwal, Arihant Superstructure
Nilesh Puranik, Puranik Builders Pvt. Ltd

adVISOry MeMBerS

Bhavin khant, Dosti Group Nihar gandhi, Tata Housing
Bhavin Shah, Acme Housing Nozer Sadri, Shapoorji Pallonji Construction
chandresh Mehta, Rustomjee
d r jalan, Sunteck Realty Prashant Mewada, Runwal
d�S rao, Reliance Industries ltd. Punam Ingle, Godrej Properties
deepak Suvarna, Piramal Realty rohan Bagadiya, Flora Marbles
deepak Vibhute, Hiranandani Communities
dhimant choksi, Ajmera Realty & Infra Ltd Salil Pandya, Runwal Group
hari easwaran, Smart World Developers Pvt. Sandip Shah, Ajmera Realty & Infra, India Ltd

Ltd Sanjay Sanghvi, Kanakia Spaces Pvt. Ltd
hetal joshi, Sunteck Realty Seema jobanputra, Ashar Group
M� S� darukesh, S D Corp
Mohann S upaddhye, Vastav Group Shabbir h kanchwala, K Raheja Corp
Mukesh jaitley, Kolte-Patil Developers tikam jain, Lodha Group
Neerav Parmar, Shapoorji Pallonji Real Estate
urvesh Mehta, Marathon Realty
Vivekanand kundle, Kalpataru Constructions

yogesh hate, RMZ Corp
g� S� Balaji MrIcS, DLF

{22}

List of Task Owners of
CREDAI-MCHI

Sr. No. Task Name Convener Team Members
1 SRA
2 33(7) & 33(9) Parth Mehta Rushi Mehta / Ricardo Romell

3 MHADA 33(5) Rajendra Nishant Agarwal (33(9)) & Harshul Savla
4 Society Chartuvedi (33(7))
Amit Thacker Gurminder Singh
Redevelopment
5 MCGM Parag Shah Sahil Parikh / Sunny Bijlani

6 Banking / Finance Domnic Romell Sunny Bijlani, Naman Shah, Sandeep Raheja
7 UDD Binitha Dalal
8 PR Jayesh Shah Pratik patel, Sandeep Raheja, Cherag R
9 Legal Shahid Balwa Dr Adv Harshul Savla, Ar Keval Valambhia
10 Revenue Rajesh Prajapati Azim Tapia, Gurminder
11 Research and Nainesh Shah Rahul Parekh
Shailesh Puranik Ar Keval Valambhia
Analysis, Skill Dr Adv Harshul
Development Savla
12 Environment
13 GST Bandish Ajmera Anuj Goradia
14 Units Association Parag Munot Sunny Bijlani, Umang Kuwadia, Rushi Mehta
Relationship Shailesh Puranik Tejas Vyas
15 MahaRERA
16 Civil Aviation / Pritam Chivukula Raajesh Prajapati
Defence Kunal Chedda Tushar Dalal
17 CSR
18 Evolving MMR Sukhraj Nahar Naman Shah
19 Membership Boman / Shrikant
20 CIDCO Sukhraj Nahar Special Advisor / CEO's
Raajesh Prajapati
21 Events / IP Satish Kumar (Team CREDAI-MCHI)
Pratik Patel
22 MHADA MMR Priya Gurnani, Omprakash Chhajer, Hitesh
Shailesh Puranik Jain, Abhishek Sharma, Deep Rajpal
Deepak Gundecha, TD Joseph (Team
CREDAI-MCHI)
Harishchandra Gupta (Team CREDAI-MCHI)

{23}

Minutes of

39TH ANNUAL GENERAL MEETING

Name of the Meeting 39th Annual General Meeting
Meeting Chaired by Shri Deepak Goradia, President, CREDAI-MCHI
Meeting Conducted by Shri Pritam Chivukula, Hon. Secretary CREDAI-MCHI
Date of the Meeting Tuesday, October 5, 2021 at 6:00 pm
Venue of the Meeting Hotel Sofitel, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051.

Shri Pritam Chivukula, Hon. Secretary welcomed the Members present.

He mentioned that it is good to see all here in person meeting and we are slowly starting our physical
meetings after long gap due to pandemic.

Shri Pritam Chivukula started the proceedings of the AGM.

1. (i) To read and confirm the minutes of 38th Annual General Meeting held on
Friday, September 25, 2020

Shri Pritam Chivukula, Hon. Secretary reported that the Minutes of the 38th Annual General Meeting
were circulated to all members, no suggestions received and minutes were unanimously accepted as
read and confirmed.

Proposed by : Shri Dhaval Ajmera
Seconded by : Shri Shri Raajesh Prajapati

ii) To receive and adopt: The Auditors Report and Audited Statements of Accounts for the year ended
as of 31st March 2021.

The Auditors’ Report & Audited Statement of Accounts for the year ended 31st March, 2021 has been
circulated to members.

Thereupon, Hon. Secretary, Shri Pritam Chivukula confirmed the Auditor’s Report and Audited
Statement of Accounts for the year ended 31st March, 2021.

Proposed by : Shri Shailesh Sanghvi
Seconded by : Shri Sukhraj Nahar

2. (i) To consider and Adopt the CREDAI-MCHI Report for the year 2020-21.

Proposed by : Shri Shailesh Puranik
Seconded by : Shri Paras Gundecha

{24}

(ii) To appoint Auditor (M/s. J. H. & Co.)fortheyear2021-22andfixtheremuneration
of Rs. 75,000/-

Proposed by : Shri Mukesh Patel
Seconded by : Shri Nayan Bheda

Resolved that M/s. J. H. & Co, Chartered Accountants, be and are hereby appointed as Auditors for the
year 2021-22 and his remuneration was fixed at Rs. 75,000/- .

3. To declare the results of the Managing Committee Elections for the term 2021-
2022, 2022-2023, 2023-2024) by Shri Mayur Shah (Past President), Returning
Officer.

Shri Mayur Shah, Past President announced the results of the Managing Committee Election for
the term 2021-22, 2022-23, 2023-24. There were 9 Nominations and one had withdrawn. So the 8
nominated members were as follows.

1. Shri Deepak Goradia - Proposed by Shri Boman Irani, Seconded by Shri Domnic Romell
2. Shri Boman Irani – Proposed by Shri Raajesh Prajapati, Seconded by Shri Shailesh Puranik
3. Shri Nainesh Shah – Proposed by Shri Pritam Chivukula, Seconded by Shri Mayur Shah
4. Shri Domnic Romell – Proposed by Shri Bandish Ajmera, Seconded by Shri Deepak Gundecha
5. Shri Pritam Chivukula – Proposed by Shri Shailesh Puranik, Seconded by Shri Raajesh Prajapati
6. Shri Rasesh Kanakia – Proposed by Shri Pravin Doshi, Seconded by Shri Boman Irani
7. Shri Shailesh Puranik – Proposed by Shri Dhaval Ajmera, Seconded by Shri Pritam Chivukula
8. Shri Deepak Gundecha – Proposed by Shri Pratik Patel, Seconded by Shri Munish Doshi

4. Presentation by CREDAI-MCHI Women’s Wing by – Ms. Richa Shah, Hon.
Chairperson

Ms. Richa Shah, Hon. Chairperson expressed her gratitude to CREDAI-MCHI and President – Shri Deepak
Goradia for giving unflinching support in this term. Women’s Wing started on 8th July 2015 and it’s the
6th year of the Women’s Wing.

Ms. Richa mentioned that the pandemic made the work difficult but tried to make through zoom calls
and online meetings to reach students and health camp workers and as many people they could reach
through the online communication.

The mission of the wing is to help the CSR activities of CREDAI-MCHI and to ensure more participation
of women in the Real Estate Industry.

Ms. Richa thanked State Bank of India for having donated Rs. 5 Lakhs apart from the generous contribution
made by the Managing Committee Members. We were able to give scholarship to 41 students, more
than Rs. 6,89,000/- fees in their respective colleges. Till now, we had given more than 60,23,961 to
161 students over the past 6 years. We had taken interview of everybody and more than 60% women
students to whom the scholarship had been given and out of it 40% were Muslims. It is gratifying for
us as it gives intersection between both the minority religion and the women working together. We are
grateful to those who had contributed whole heartedly to raise the finance for the scholarship.

{25}

Ms. Richa Shah further requested for more help from the members to raise the finance so that the
women’s wing could help more children who are pursuing education in real estate sector. After raising
the funds not only we could help in getting the education but also help them to get trained in their jobs.

Health Camp:
Ms. Richa Shah updated that so far they had conducted 35 Health Camps at 35 different sites at 20
Developers projects’ sites and requested to open up more sites to conduct such Heath Camps. She
said that during the current year they had conducted 2 health camps both were at 2 sites of Kalpataru
Developers.

Virtual Workshops:
Ms. Richa Shah informed that Women’s Wing had a Workshop on 8th December called ‘Shakti’. This
was basically the workshop done for Women.

There was another International Women’s Day workshop by Ms. Rohini Basangar who shared entire
idea of role of women in Corporates.

Workshop with Ms. Priti Gupta, founder of Laxmi, and shared idea on how women should have emergency
fund, take care of health insurance, wealth.

Ms. Richa Shah updated the members that they received 10 new members and they wanted more
women to join the labour force at the site. Painting and re-claying was the easiest tasks for the Women
to start joining the real estate work force. She requested members to open up their sites in order to get
more and more women work force in the real estate sector.

Ms. Richa requested generous donations to the Women’s Wing from the Members towards the
scholarship and also requested more and more women to join the Women’s Wing of CREDAI-MCHI.
She informed that the current year the Labour Welfare Fund had collected about 70,500 rupees and
the same was used for labour camps, providing grains, etc. to the labourers.

5. Address by Shri Deepak Goradia, President of CREDAI-MCHI

- Activities carried by CREDAI-MCHI during the year
Shri Deepak Goradia welcomed all Members and made an AV presenting on the activities carried during
the year. He mentioned that after taking over as the President, his main Agenda was (1) Creation of
Demand (2) Reduction of cost and Ease of Doing Business with Government.

He further mentioned that due to the pandemic period and the imposed lockdown, we faced a lot of
challenges. Work from home culture was not suitable for our industry. There were many challenges
like issues with the funding, issues with the customers and issues with the sales marketing etc.

Shri Goradia further mentioned that the last 2 quarters of 20-21, had been the bright spot in improving
enquiries, sales, registration, bank disbursement and kick starting the upward momentum for Mumbai
and MMR Real Estate. Regarding the issue of reduction of cost, with the great support of Government
of Maharashtra, the Chamber had achieved the reduction in Stamp Duty for homebuyers, notification
of unified DCPR, 50% reduction in the premium till 31st December 2021 payable by State & Municipal
Corporation, reduction in CFO Fees, regularization of work without penalty. Hon’ble Municipal
Commissioner, MCGM skipped the audit process in the month of March and it the month of August
2021. Building proposal Department worked on Holidays and Sundays till late midnight for the issue

{26}

of sanctioned plan on 19th August 2021� Extension of registration period of the documents which
were executed in the stamp duty paid till June, 2021� Land ASR the value which was kept unchanged
for the year 2021� MahaRERA extended the project validity for further period of 6 months� All these
concessions were achieved by our chamber due to the continuous representations and follow up with
concerned officials, Ministry & Government of Maharashtra and the local urban body�

We are thankful to the Govt� of Maharashtra, hon’ble Chief Minister and their Secretariat and others to
support the real estate industry� We can see good start and bright spot in the last quarter of 20-21 and
we had done away good sales in the entire Mumbai and MMR region�

Shri Deepak Goradia highlighted some important activities carried out during the year like Conciliation
Forum under MahaRERA which has been doing an excellent work in resolving issues between buyers
and developer members� he mentioned that CREDAI-MChI team had been working very well in engaging
more and more new members with the Association� We have been able to open 4 new CREDAI-MChI
units palghar - boisar, bhiwandi, Uran- Dronagiri, Shahapur – Murbad�

Our Chamber has been working for the benefit of members and various legal cases like moratorium
matter, Registration, LUC matter, Ready Reckoner, premium reduction extension and flamingo
sanctuary had been challenged and pursued for required relief� We had got positive orders for few and
others being pursued to achieve the best� We are also spending huge amount to fight the legal cases�
A number of Webinars, Knowledge Series were being conducted� The Youth Wing & Women’s Wing are
also working very well� We had started Mobile App, Members’ Guidance Cell� We had conducted online
as well as physical biznet for the benefit of members�

Shri Deepak Goradia mentioned that in the coming year, we could see a good number of transactions
happening� he said that the market is bouncing back and we expect in the coming Q3, Q4 period to be
one of the finest period what we could achieve in real estate industry in Mumbai & MMR�

Shri Goradia appealed to the members to work together and build our organisation to the next level� he
requested all the members to take active interests and volunteer the time for the Association, as that
would definitely help to strengthen the Association and do best for the industry�

6� Vote of Thanks by Shri boman Irani – president Elect

Shri boman Irani mentioned that the president, Shri Deepak Goradia had spelt out what was done in the
last year and the plans for the next year would be very promising� he thanked all the sponsors of the
event� Shri Irani also thanked the Women’s Wing Members and Youth Wing Members�

{27}

Change of Guard

CREDAI-MCHI held a Change of Guard Ceremony for the year 2022, drawing a new committee and
vision of Mumbai MMR. The grand event was held on 24th January 2022, where Shri Deepak Goradia,
President of CREDAI-MCHI and Chairman & Managing Director of Dosti Group, handed over the baton
of Presidentship to Shri Boman Irani, Chairman and Managing Director of Rustomjee Group.
Currently, with a strong membership of over 1,250+ leading developers in the Mumbai Metropolitan
Region (MMR), CREDAI-MCHI foresees its growth and strength stemming from CREDAI-MCHI Units,
which covers the entire (MMR), including Thane, Kalyan-Dombivali, Navi Mumbai, Raigad, Palghar-
Boisar, Mira Road-Virar, Bhiwandi, Shahapur-Murbad, Uran-Dronagiri, Pen, Alibaug and, Karjat-
Khalapur-Khopoli among many that will be added in the year 2022-23.
Watch the Change of Guard Ceremony 2022
YouTube Link: https://www.youtube.com/watch?v=z-SrMTnZm0U
Know more about the CREDAI-MCHI Manifesto: https://mchi.net/wp-content/uploads/2022/01/
Manifesto2021_low.pdf

{28}

NEW INITIATIVES UNDER CREDAI-MCHI

Certificate Course in Real Estate Management

CREDAI-MCHI unveiled the brochure for Certificate Course in Real Estate Management at the 5th
Managing Committee Meeting on 19th May 2022 at Hotel Four Seasons Worli. The course has been
jointly designed by PP Savani University and CREDAI–MCHI. Present at the event was the CREDAI–MCHI
team led by President Boman Irani, Hon. Secretary Shri Dhaval Ajmera, Immediate Past President,
Deepak Goradia, Domnic Romell, Sukhraj Nahar, Shailesh Puranik, Jayesh Shah and COO Shri Keval
Valambhia, while Dr Parag Sanghani, Provost (Vice-Chancellor) PPSU, Dr Jainish Bhagat and Shri
Kaival Dave represented P P Savani University.
For more details, please check :
BROCHURE LINK: https://mchi.net/PDF/CERTIFICATECOURSEINREALESTATEMANAGEMENT.pdf

{29}

RESEARCH REPORTs

CREDAI-MCHI & CRE Matrix Report

MMR Office Report
This report is based on MMR Buyers’ Origin, featuring analysis on buyers’ origin for a particular micro-
market and their contribution to the Top 20 localities of that region. The regions covered are micro
markets of South Mumbai, Suburbs (Central, Eastern, Western), KDMC, Mira Bhayandar, Bhiwandi, Navi
Mumbai, Thane, Vasai Virar, and Raigad. MMR’s office demand in the Jan-Sep’21 period increased by
2% versus that of the previous year’s annual demand; it also increased by 36.6% on an annual basis for
2021 versus 2020. Western Suburbs and Andheri are the top macro-markets that contributed 45% to
MMR’s office demand in the 9-month period. Office supply in MMR shot up by 48% within 9 months in
2021 vis-a-vis the annual output of Navi Mumbai and Western Suburbs in 2020, which contributed 52%
of the supply.

MMR Housing Research Report
CREDAI MCHI - CRE Matrix Monthly Research Report focused on the average value of units sold in the
markets of MMR from 2018 to 2021. The regions covered are micro/macro markets of South Mumbai,
which include Suburbs (Central, Eastern, Western), KDMC, Mira Bhayandar, Bhiwandi, Navi Mumbai,
Thane, Vasai Virar, Rest of Palghar, Panvel and the Rest of Raigad. The average value of flats sold in
MMR has increased by 12% from CY2018 to CY2021 and apartments priced above 2-Cr in MMR have
also nearly doubled from Rs 39,800 Cr in CY2020 to Rs 73,000 Cr in CY2021.In May 2022, CREDAI-
MCHI CRE-Matrix Monthly Research Report was featured on MMR Property Tracker. Research report
focuses on the average flat sale price, property sale registration for Nov 2021 - Mar 22 and trends in
MMR in March for various markets.

The direct impact of Stamp Duty on Housing Sales in MMR
The June 2022 edition of the CREDAI-MCHI - CRE Matrix Research Report was a detailed study
highlighting the direct impact of Stamp Duty on housing sales in MMR. The report’s findings include
Mumbai having touched the peak of Rs 2,15,170 Cr. in terms of the value of units sold in the MMR,
quarterly trend analysis of Stamp Duty collection, Total number of units sold and the total value of
units sold.

{30}

CREDAI-MChI - Colliers – CRe Matrix

A joint effort of CREDAI-MChI - Colliers - CRE Housing Uptick Aided
Matrix published a Research Report on ‘MMR: by Support
housing Uptick Aided by Support’� This report
was released in January 2022� Many key points
highlighted in this report include the fiscal
achievements backed by bold and informed
decision-making of the State Government;
numbers of Stamp Duty Collections, Registrations,
premium Collections, GST Collections, and
property Tax Collections highlight the same� The
Research Report also gives a detailed micro-
market overview� During the period Q4 2020 to
Q l 2021, property registrations increased 84%
compared to the same period in the previous year
(pre-COVID)�

english Report link: India | Jan 2022
https://mchi.net/pdf/CREDAIMCHI_Colliers_
CREMatrix_MMRHousingUptickAidedSupport_
Jan22_English.pdf
Marathi Report link:
https://mchi.net/pdf/CREDAIMCHI_Colliers_
CREMatrix_MMRHousingUptickAidedSupport_
Jan22_Marathi.pdf

CREDAI-MChI & truBoard partners

CREDAI-MChI, in association

with Truboard partners has

developed a quarterly house

HOUSE PURCHASE purchase Sentiment Index
SENTIMENT INDEX
(hpSI) to capture future home
RESIDENTIAL REAL ESTATE buying plans of consumers
TRENDS IN MMR and key influencers� It tracks

MARCH 2022 consumer sentiments in key

micro markets of the MMR

MMR region and is a first-of-its-kind
HOUSE PURCHASE data intended for demand
SENTIMENT INDEX forecasting� The hpSI report
for Q1 2022 is a key tool for

JUNE 2022 developers, policymakers

and banking organisations as

it transparently shows the

confidence levels of purchasers for various micro markets of MMR, which hints at lower optimism of

buyers who are business owners compared to salaried individuals and higher incidences of low-risk

buyers in areas like bKC, Chembur, Lower parel and powai, which are the emerging micro markets of

MMR�

{31}

Members’ Guidance Cell

A Member’s Guidance Cell meet was organised with Shri Sandeep Kotak, MD Mango Advisor.
Participating members had an interesting one-on-one interaction with him on queries relating to
financing their projects, which included information on how to raise growth capital and creation of niche
brands; current trends of refinancing; ways of raising finance for partnership firms; funding options
other than SWAMIH fund and for budget housing projects in MMR.
Similarly, two sessions were held in December. The first session was a legal session on 3rd December
2021 with Shri Samit Shukla from DSK Legal, where the participating members got solutions for their
queries on subjects like legal remedies for minority members not vacating premises. The second
session was with Shri Babasheb Samudre JDR, Mumbai City, on the 6th of April 2022. He answered
queries pertaining to the guidelines for adjudication for joint development agreements, especially for
the land where FSI potential is low, the time frame for cancellation of registered documents and the
process for getting the refund on stamp duty, among others.

E-Registration Training Programme

CREDAI-MCHI had organised an E-Registration Training programme at the office between 27th to
30th of December 2021. The staff of the Maharashtra government provided training to CREDAI-MCHI
members and staff on the E-Registration process. At the moment, this new portal will be used to
register a new sale agreement between a single builder and multiple buyers. Since the role of the NIC
has been eliminated and the entire approval of the new system comes from the JDR office, a developer
can go ‘live’ in 7 days. A similar E-Registration camp, in collaboration with the IGR Department, was
held on the 19th and 20th of May 2022 at the CREDAI-MCHI Office.

Tutorial Video:
YouTube Link: https://www.youtube.com/watch?v=vMHPZFz7uLo
Dummy link for form builder application:
https://115.124.105.195/
Please make sure to add OTP as 1234 in this staging environment in the guideline.

{32}

‘FirstTalk’, our exclusive member’s
engagement platform

CREDAI-MCHI introduced FirstTalk, an exclusive member engagement platform, which was organised
on February 1st during the Union Budget, where CREDAI- MCHI invited eminent speakers who shared
valuable insights on Budget 2022 and its Implications on the Real Estate sector. The speakers were Shri
Vipul Roongta, M.D. & CEO, HDFC Capital Advisors Ltd. Shri Hiten Kotak, Partner, Price Waterhouse
Co. LLP, Shri Boman Irani, President, and CREDAI-MCHI Shri Anuj Puri, Chairman, Anarock Group. Ms
Manisha Natarajan, Anchor and Editor, NDTV, was the moderator.

YouTube Link: https://youtu.be/gOCzgqCWmRo

Seeking
Govt’s
Intervention
to Control
Rising Input
Costs

On 28th March 2022, CREDAI-MCHI conducted a press conference on the subject of seeking the
government's intervention to introduce new measures to control rising input costs. It also denied claims
of halting construction works, which it would consider doing so if there is no respite to rising prices.
The Chambers is also in constant dialogue with the government for deferment of metro cess and
will continue the engagement with concerned authorities. CREDAI-MCHI is constantly recommending
the government to reduce steel export gradually, allowing ITC under GST and 80IB to be extended to
affordable housing.

Book Launch Ceremony

The book Real Estate: The Good, The Bad & The Unanswered by Deepesh Salgia, was launched during
the 5th Managing Committee Meeting on 19th May 2022 at Hotel Four Seasons Worli. It was launched
in the presence of Guest of Honour Shri Rajiv Sabharwal (Managing Director & CEO, Tata Capital), Shri
K G Krishnamurthy, President Shri Boman Rustom Irani, Hon. Secretary Shri Dhaval Ajmera, Immediate
Past President, Deepak Goradia, Shri Domnic Romell, Shri Sukhraj Nahar, Shri Shailesh Puranik, Shri
Jayesh Shah, Treasurer, Shri Pritam Chivukula, Past President Shri Rajnikant Ajmera, Shri Mayur Shah,
Shri Nayan Shah and Dr Parag Sanghani, Provost (Vice-Chancellor) PPSU.

{33}

Report at Glance

Government Meetings

Welcoming the new Chief Minister, Shri Eknath Shinde

CREDAI-MCHI team led by President Shri Boman Irani, immediate Past President Shri Deepak Goradia,
Shri Domnic Romell, Treasurer Shri Pritam Chivukula and Thane CREDAI-MCHI President Shri Jitendra
Mehta welcomed the new Chief Minister, Shri Eknath Shinde and extended good wishes to him on 2nd
July 2022.

Meeting with Former Deputy Chief Minister, Shri Ajit Pawar

CREDAI-MCHI had a fruitful meeting with the then Deputy Chief Minister, Shri Ajit Pawar, on 8th March,
2022. The meeting was attended by President Boman Irani, Vice President Jayesh Shah & Dominic
Romell, Hon. Secretary Dhaval Ajmera, Treasurer Pritam Chivukula and COO Keval Valambhia. They
made a strong plea to defer the levy of 1% metro cess on Stamp Duty for 2 years, given the rising cost
due to the global crisis. Shri Pawar assured that he would consider the issue positively and discuss it
in the cabinet.

Meeting with NCP President- Shri Sharad Pawar, MP

There was a courtesy meeting with Shri Sharad Pawar, MP & President of Nationalist Congress Party
(NCP) on 11th April 2022, which was attended by President Shri Boman Irani, Hon. Secretary Shri
Dhaval Ajmera, Shri Ajay Ashar, Vice President Shri Jayesh Shah and Vice President Shri Shailesh
Puranik. They discussed topics related to the reduction of stamp duty, waiver of metro cess and the
issue of Silent Sunday imposed by the then Commissioner of Police, Shri Sanjay Pandey.

Meeting with the former Housing Minister Dr Jitendra Awhad

CREDAI-MCHI met the then Housing Minister Dr Jitendra Awhad. Officials present at the meeting included

{34}

ACS, UDD Dr Bhushan Gagrani, PS, Housing Shri Milind Mhaiskar, VP & CEO MHADA Shri Anil Diggikar,
Chief officer Shri Yogesh Mhase, CEO SRA and Shri Satish Lokhande, among others from various
departments to discuss issues of MHADA/ SRA. The meeting was attended by President Shri Boman Iran,
Shri Domnic Romell, Hon. Secretary Shri Dhaval Ajmera, Hon. Secretary Shri Pritam Chivukula, COO Shri
Keval Valambhia, AGM Shri Harish Gupta, Shri Amit Thacker, Shri Gurminder Singh, Shri Rushi Mehta
and Shri Ricardo Romell. Several points were discussed, including the instalment scheme for MHADA
redevelopment, repeal of MOFA, waiver of premium on rehab areas and also the need for nominal stamp
duty of Rs 1,000 to be charged for redevelopment under MHADA.

Meeting with Shri
Manohar Lal Khattar,
Haryana Chief Minister

A meeting was held with Shri Manohar
Lal Khattar, Chief Minister and his
Deputy Chief Minister of Haryana
on 11th May 2022. The ministers
presented the proposal to develop a
global city spread across almost 1000
acres of land along the under-construction Dwarka Expressway. The goal of the project is to create
‘new-age service industries like artificial intelligence and fintech that will attract talent as well as
global investments. The project includes plans for the state–of–the–art infrastructure, a convention
centre, and industrial and residential zones.

Meeting with Ms Manisha
Mhaiskar, Principal
Secretary, Environment,
Government of
Maharashtra

A series of meetings were conducted with
Ms Manisha Mhaiskar, Principal Secretary,
Environment, Government of Maharashtra,
on the time-consuming process of issuance of environmental clearances to projects in the MMR region.
CREDAI-MCHI requested the Principal Secretary to consider the projects with the valid concession
report issued by planning authorities in accordance with local planning regulations while granting
the environmental clearances. The Principal Secretary also agreed to schedule a minimum of 8-10
hearings per month to clear the pending backlogs. She also assured to mitigate all the hurdles faced
by developers. She informed that the concession document issued by MCGM is considered a valid
document for processing files for EC by the department.

Meeting with the then UDD Minister, Shri Eknath Shinde

A meeting was held with Shri Eknath Shinde, the then UDD Minister, Minister for Urban Development
& Public Work, on 21st December 2021. The meeting, centred on suggestions for payment towards
various premiums, was attended by Shri Ashwani Kumar - Metropolitan Commissioner, Shri Bhushan

{35}

Gagarani - Additional Chief Secretary, UD Department & team of CREDAI-MCHI led by former President
Deepak Goradia, Hon. Secretary Pritam Chivukula, Past President Rajnikant jmera, and Ajay Ashar.

Meetings with the then Principal Secretary, UDD, Government
of Maharashtra, Shri Bhushan Gagrani

CREDAI-MCHI conducted a series of meetings with Shri Bhushan Gagrani (IAS), the-then former
Principal Secretary, UDD, Government of Maharashtra. They discussed important pending topics, which
included a request of clarification from the UDD on development cess and a hearing in the matter of
extension of the notification dated 19/8/2019. They also discussed the need for open space deficiency
to be calculated only once in the lifecycle of the project and the 2nd staircase in building-over-70m
to be made free of FSI and premium, among others. In another meeting on amendments required
on various provisions of DCPR 2034, Shri Gagrani attended it as the new Additional Chief Secretary
along with Director of Town Planning Shri Avinash Patil, Shri Chandrakant Undage, Shri Nirmal Kumar
Chaudhary, Shri Sanjay Nirmal and other key officials from UDD. The meeting with Shri Gagrani on the
issues pertaining to Units in Palghar-Boisar, Shahapur-Murbad and Bhiwandi was also a success.

Meetings with Municipal Commissioner, MCGM, Shri Iqbal
Singh Chahal

A meeting was held MCGM Shri Iqbal Singh Chahal by CREDAI-MCHI, which was centred on suggestions
for improvement in AutoDCR and a second staircase free of FSI without the premium, among others.
The Commissioner welcomed the idea of preparing a report of suggestions to improve AutoDCR and
assured to discuss the premium matter with UD. Shri Chahal, along with Shri Bhushan Gagrani (IAS),

{36}

Principal Secretary, UD, Government of Maharashtra, also represented the Civil Aviation Authority in a
meeting by CREDAI-MCHI on 29th October 2021. A detailed presentation was put before the committee,
which constituted reviewing building height regulations. The committee was assured to revert on the
suggestions put forth by the members of CREDAI-MCHI.

Meetings with
Shri Shravan
Hardikar (I.A.S), IGR

CREDAI-MCHI conducted a series
of meetings with Shri Shravan
Hardikar (I.A.S.), Inspector
General of Registration (IGR). The
meetings were based on various
issues related to the stamp
and registration department and revision in rates for Stamp Duty payable on instruments such as
conveyance deeds as well as a refund of Stamp Duty on cancellation of the agreement. Shri Hardikar
also accompanied Additional Chief Secretary Dr Nitin Kareer (I.A.S.) for two meetings related to the
Revenue Department, one of which also featured Shri Niranjan Kumar Sudhanshu (I.A.S.) Settlement
Commissioner. The important matters discussed at the meetings included plans to start e-registration
from the developer's office and simplification in the development agreement adjudication process,
among others. While the department responded positively to the suggestions made by CREDAI-MCHI,
Dr Kareer also deliberated on suggestions made by us in a meeting on 6th April 2022 of bringing EoDB
in the revenue department positively.

Meeting with Additional Chief Secretary Revenue Department,
Shri Nitin Kareer

CREDAI-MCHI had a series of meeting with Dr. Nitin Kareer, Additional Chief Secretary, Revenue
Department, Government of Maharashtra to discuss various issues related to Revenue Department.
The meeting was attended by President Shri Boman Irani, Vice President Shri Shailesh Puranik, COO
Keval Valambhia. Important issues like Reduction in Land ASR Rate, Stamp Duty payable of DA for
MHADA to be done on RS 1000 Stamp paper, Extension of timelines for Converting Class II to Class I
along with other important topics were discussed.

{37}

Meeting with Smt. Jayshreerani Surve, Deputy Director, Town
Planning (Revenue)

An important meeting was held with Smt. Jayshreerani Surve, Deputy Director Town Planning
(Revenue) on 21st December 2021. It was attended by Keval Valambhia, COO & Harish Gupta, AGM
from the CREDAI-MCHI side, as well as a few members of NAREDCO. The meetings were centred on
ready reckoner rates for the Mumbai Metropolitan Region (MMR) in 2022-23.

Meetings with Shri Sanjay Pandey (IPS), Commissioner
of Police & Joint Commissioner of Police (Law & Order)
Shri Vishwas Nangre Patil

CREDAI-MCHI and NAREDCO jointly attended a meeting called by the Commissioner of Police (CP)
Mumbai, Shri Sanjay Pandey (IPS) and Joint Commissioner of Police (Law & Order) Shri Vishwas Nangre
Patil on 9th March 2022. The Hon. CP informed that he had received several complaints regarding
construction, including noise and dust pollution, long working hours on-site and deployment of private
traffic wardens. CREDAI-MCHI and NAREDCO agreed to take appropriate measures together to bring
down the noise levels and adhere to the approved construction timelines of 0600 hrs to 2200 hrs only.
Following another joint meeting with Shri Pandey and Shri Patil on 8th April 2022, on the noise pollution
at construction sites, CREDAI-MCHI issued an advisory to all its members to observe ‘Silent Sundays’.

Welcoming the
new Mumbai
Commissioner of
Police, Shri Vivek
Phansalkar (I.P.S.)

At the appointment of Shri Vivek
Phansalkar (I.P.S.) as the new
Police Commissioner of Mumbai,
the CREDAI-MCHI team - led
by President Shri Boman Irani;
Immediate Past President Shri
Deepak Goradia; Vice President Shri Domnic Romell; Hon Secretary Shri Dhaval Ajmera; Thane CREDAI-
MCHI President Shri Jitendra Mehta, and Youth Wing Convener Shri Naman Shah - visited the CP’s
Office to welcome the new Commissioner of Police, Shri Vivek Phansalkar (I.P.S.) and extended good
wishes to him on 7th July 2022. The Hon'ble CP informed that he would engage with the chamber to
understand issues that were hindering the development in Real Estate.

Meeting with Shri Manu Kumar Srivastava (I.A.S),
Chief Secretary, Government of Maharashtra

The meeting with Shri Manu Kumar Srivastava (I.A.S), Chief Secretary Government of Maharashtra, on
22nd March 2022 was attended by Shri Boman Irani, President; Shri Dhaval Ajmera, Hon. Secretary;
Shri Keval Valambhia, COO, and Shri Harish Gupta, AGM, CREDAI-MCHI. They discussed subjects like

{38}

HRC for building up to 250m at par with 33(9) projects, repeal of MOFA and metro cess deferment for
2 years. CREDAI-MCHI also requested that the ready reckoner rate should not be increased. The Chief
Secretary positively responded and assured support for the same.

Meeting with Ms Rajashree Patil, Assistant Labour
Commissioner of MBBOCWW

CREDAI-MCHI Women's Wing members
attended a meeting with Ms Rajashree
Patil, Assistant Labour Commissioner of
Maharashtra Building and Other Construction
Workers Welfare Board, on 15th March 2022,
in reference to the access to various welfare
schemes, i.e. Social Security, Education,
Health Care & Financial. Ms Mona Ajmera,
Chairperson, Women’s Wing, gave a brief
introduction of CREDAI-MCHI Women's
Wing and the CSR activities undertaken. The
meeting was also attended by Ms Jesal Shah,
Hon. Secretary, Ms Alka Doshi, Treasurer, Ms
Sejal Goradia, Vice Chairperson, Ms Sonal Shah, Ms Anuradha Shah, Past Chairperson, CREDAI-MCHI
Women’s Wing, Shri Keval Valambhia, COO, Ms Reena Noronha, Manager and Shri Sanjay Phope, Sr
Executive, CREDAI-MCHI.

Meetings with Shri Satish Lokhande, CEO of SRA

The CREDAI-MCHI, led by President Shri Boman Irani, had a series of meetings with Shri Satish Lokhande,
CEO of Slum Rehabilitation Authority (SRA), on the various issues related to SRA that required attention.
At the meeting on 13th April 2022, which also had Deputy Chief Engineer Shri R.B Mitkar attending it,
they also discussed the facilitation of Ease of Doing Business (EoDB) and the need of new policies to
ease the process of approvals. Team CREDAI-MCHI also met Shri Lokhande on 27th May 2022 to thank
him personally for taking a bold policy decision to implement 3C for all lands declared as slums u/S4
of the Slum Act and Census Slum.

Meeting with Shri Anil Diggikar, VP & CEO of MHADA

CREDAI-MCHI had a meeting with Shri Anil Diggikar (I.A.S) Vice President & CEO MHADA, Shri Yogesh
Mhase (I.A.S) Chief Officer, Mumbai Board and other MHADA officers on 6th May 2022, pertaining
to various issues and suggestions to simplify the process for MHADA redevelopment projects. The

{39}

VP MHADA was extremely positive towards the suggestions shared by CREDAI-MCHI, which included
issuing concessions for a project in consonance to the practice followed in MCGM; amendment of the
schedule of payment for MHADA premium to 10:10:80; bringing parity in incentive FSI for 33(5) in
line with recent amendments in 33(7) & 33(9); granting NOC to CC for the entire approved BUA when
the developer avails deferred payment facility on payment of interest and single window system for
execution of lease deeds, among others.

Meeting with Shri Hemant Parab, Chief Fire Officer

CREDAI-MCHI’s meeting with Shri Hemant D Parab, Chief Fire Officer, on 22nd April 2022 was
successful. The issues that were followed up by CREDAI-MCHI Vice President Shri Domnic Romell
and COO Shri Keval Valambhia in the brief meeting with the Chief Fire Officer included a reduction in
an abnormal increase in price for the next 5 years. The CFO also took note of the suggestions that the
amended plan by the CFO department should only calculate the additional BUA and that the annual
fire service fees be charged only when CC is issued. Shri Domnic Romell also proposed to jointly launch
a certificate course on fire safety. A follow-up meeting was scheduled in the 1st week of May to take
these suggestions forward.

Meeting with Shri Niranjan Kumar Sudhanshu (I.A.S.),

Settlement Commissioner and Director, Land Records
A meeting was held with Shri Niranjan Kumar Sudhanshu (I.A.S.), Settlement Commissioner and
Director, Land Records, on 13th May 2022. It was attended by CREDAI-MCHI Vice President Shri Shailesh
Puranik, Ms Amita, and COO Shri Keval Valambhia. A detailed presentation was made to bring Ease of
Doing Business in various approval processes under the Settlement Commissioner department. Shri
Niranjan Kumar also appraised various updates in process on the website of Bhumi Abhilekh, where
one can easily access various information like litigation and various other details easily.

Meeting with Shri Rajeev Sheth, Deputy Chief Engineer, MHADA

An important meeting was held with Rajeev Sheth, Deputy Chief Engineer, MHADA, on 15th June 2022.
This was in continuation to the meeting held on 6th May 2022 with Shri Anil Diggikar, Vice President,
MHADA. On behalf of CREDAI-MCHI President Shri Boman Irani, Members Shri Amit Thacker, Shri
Gurminder Singh, Shri Ricardo Romell, Shri Harish Gupta, and Shri Sanjay Phope were present in the
meeting, which was led by task owners Shri Amit Thakar and Shri Gurminder Singh.

Meeting with
Shri Sanjeev Kumar
(IAS), Chairman,
Airport Authority
of India

An important meeting focused on
the height-related issues affecting
building projects at Navi Mumbai
was held with Shri Sanjeev Kumar
(IAS), Chairman of the Airport

{40}

Authority of India, on 28th June 2022 in New Delhi. CREDAI-MCHI highlighted that numerous projects had
been affected due to inactive CCZM and the height cap of 55.1 meters AMSL. AAI Chairman mentioned
that it is imperative that consensus between CIDCO and NMIAL on the location of navigational aids be
finalised so that the issues concerning building heights for these projects can be resolved.

Meeting with Ar. Hafeez Contractor

The CREDAI-MCHI had a three-round meeting with Ar. Hafeez Contractor on 30th CREDAI-MCHI
Property Exhibition 2022. The accomplished architect has for the first time designed the layout of the
property exhibition and CREDAI-MCHI appreciated his contribution in providing a different layout. He
gave a new look to the exhibition by incorporating a lot of green and making room for natural sunlight.

Meetings with
Shri Ajoy Mehta
(Ret. IAS), Chairman,
MahaRERA

An extensive meeting with Shri
Ajoy Mehta (Ret. IAS), Chairman,
MahaRERA, was held by CREDAI-
MCHI, where they presented
important matters, which
included finalizing the Draft Model
Agreement with MahaRERA
and the reasons for the delay
in processing the Registration
of MahaRERA application etc. In another meeting with the Chairman of MahaRERA along with Shri
Mahesh Pathak (I.A.S.) and Secretary, Shri. Vasant Prabhu, on 22nd July 2022, the CREDAI-MCHI team
discussed numerous points like delay in the process of issuance of MahaRERA registration number;
discussion of over-allotment letter issues such as 2% cancellation charges, refund within 45 days
and the use of Open House forum by developers to resolve their queries with regards to the pending
registration application form.

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MahaRERA

MahaRERA – 2021-2022

 Meetings of the MahaRERA Self-Regulatory Organisation (SRO) were held at the MahaRERA
Bandra Office on the dates listed below:

 On October 4, 2021
MahaRERA Chairperson Shri Ajoy Mehta, Member-1 Shri Satbir Singh, and Hon Secretary Dr. Vasant

Prabhu met with the six SROs, namely CREDAI-MCHI, CREDAI-Maharashtra, NAREDCO, Builders
Association of India Maharashtra State (BAI), Marathi Bandhkam Vyavasik Association (MBVA), and
Brihanmumbai (BDA). CREDAI-MCHI was represented by Mr. Vyomesh Shah, Mr. Raajeesh Prajapati,
and Mr. Keval Valambhia. They discussed topic like- Revised Forms 1, 2, 2A , 3 , 4, 5; Revised Processes
and Forms for Project Extension; Project Corrections, Project Updates, and Project Modifications;
and Project Synopsis.

 On 17 December 2021
A meeting was convened by MahaRERA Chairperson Shri Ajoy Mehta, Member-1 Shri Satbir Singh

and Hon. Secretary - Dr. Vasant Prabhu, with SRO’s i.e., CREDAI-MCHI, NAREDCO, and Brihanmumbai
Developer Association (BDA). CREDAI-MCHI were represented by Mr. Pritam Chivukula - Secretary,
Mr. Raajesh Prajapati, Mr. Naman Shah, Mr. Keval Valmabhia, Mr. Harish Gupta, Ms. Jaya Sawlekar
and Ms. Reena Noronha. A topic was discussed on Form No. and Form No. 5; Hon’ble Chairman
mentioned in his remarks regarding Form 3 that RERA authorities had positively considered the
requests and prayers made by CREDAI MCHI. They had made changes accordingly; he further
mentioned that he would give a second thought to not making all the forms available in the public
domain and revert; discussed lapsed projects (count -3611).

 On 12 April 2022
A meeting was held with MahaRERA Chief Planning Officer Shri Arun Nandgaonkar, Shri Vasant

Wani and other RERA officials regarding Registered SRO’s compliances. The meeting was attended
by the Task Owner-CREDAI-MCHI, NAREDCO, CREDAI Maharashtra. In the meeting, the MahaRERA
informed everyone they will levy an Additional Scrutiny Fee in the case of projects being re-submitted
after three consecutive years. After that, MahaRERA issued a circular regarding the Additional
Scrutiny fees in which it requested suggestions and objections.

 On 28th June 2022
A meeting was convened by MahaRERA Chairperson Shri Ajoy Mehta (Retd. IAS), Shri Satbir Singh and Dr.

Vasant Prabhu, with 6 SRO’s i.e. CREDAI-MCHI, CREDAI-Maharashtra, NAREDCO, Builders Association
of India Maharashtra State (BAI), Marathi Bandhkam Vyavasik Association (MBVA), Brihanmumbai
Developer Association (BDA).CREDAI-MCHI were represented by Mr. Pritam Chivukula - Secretary, Mr.
Satish Kumar, Ms. Jaya Sawlekar & Adv. Rajvi Choksi. It was an initial meeting to understand the lapsed
projects and receive suggestions/issues from various S ROs. Shri. Ajoy Mehta introduced the Chairman
of the Committee for Reviving Lapsed Projects, Shri. Sanjay Deshmukh (Retd. IAS). Regular meetings
with all SROs will be led by Shri Sanjay Deshmukh. MahaRERA will issue guidelines and regulations for
reviving dormant projects, and the list of dormant projects will be shared with SROs.

 On 22 July 2022
CREDAI-MCHI met with MahaRERA Chairperson, Shri Ajoy Mehta, and the newly appointed

Member-1, Shri Mahesh Pathak (IAS), as well as the Hon Secretary, Dr. Vasant Prabhu. The main

{42}

issue of the delay in receiving the MahaRERA registration number was extensively discussed during
the meeting, and MahaRERA made a detailed presentation and gave their remarks and reasons that
the applicants/developers had erroneously filled in their details in the MahaRERA Application Form
with respect to Technical, Financial, and Legal sections/parameters.

 On 3 August 2022
A a meeting was held with MahaRERA Chairperson Shri Ajoy Mehta (Retd. IAS) and Member-1

Shri Mahesh Pathak (I.A.S.) to discuss the issue of MahaRERA’s massive registration backlog. Shri
Boman Irani, President of CREDAI-MCHI, Shri Domnic Romell, Shri Shailesh Puranik, Shri Aditya
Javdekar, Shri Pritam Chivukula, Shri Rajesh Prajapati, and Shri Kunal Kataria represented CREDAI-
MCHI. Several topics were discussed during the meeting, including the delay in issuing MahaRERA
registration, the removal of CERSAI as a requirement for registration, and CREDAI-plans MCHI’s to
launch a training session on the new registration process, among others.

 On August 30, 2022
A meeting was held with MahaRERA Chairperson Shri Ajoy Mehta, Hon Secretary Dr.Vasant

Prabhu, and MahaRERA officials. CREDAI-MCHI was represented by Adv. Vahid Mirza. The common
deficiencies observed in Project Registration Applications, Financial Scrutiny of Projects, and
Compliances were discussed.

 On June 29, 2022
Shri Sanjay Deshmukh (Retd. IAS), Dr. Vasant Prabhu, and other MahaRERA officials, CREDAI-

MCHI, CREDAI-Maharashtra, NAREDCO, and Mumbai Grahak Panchayat met (MGP). Mr. Pritam
Chivukula - Secretary, Mr. Satish Kumar, Ms. Jaya Sawlekar, and Adv. Rajvi Choksi represented
CREDAI-MCHI. Dr. Vasant Prabhu thanked the Conciliators of all three Associations (CREDAI-MCHI,
CREDAI-Maharashtra, and NAREDCO) at the meeting for their efforts and hard work in successfully
executing the MahaRERA Conciliation Forum. Dr. Vasant Prabhu introduced Shri Sanjay Deshmukh
(Retd. IAS), who has taken charge of Conciliation Forum.

 On August 2, 2022
The MahaRERA Conciliation Core Committee met in person at the MahaRERA Office in Bandra. The

meeting was convened by Dr. Vasant Prabhu, Secretary of MahaRERA, and representatives from
CREDAI-MCHI, NAREDCO, and Mumbai Grahak Panchayat (MGP). CREDAI-MCHI was represented
by Mr. Satish Kumar, Ms. Jaya Sawlekar, and Adv. Rajvi Choksi. Shri Sanjay Deshmukh (Retd. IAS)
was in attendance and discussed the draft Roznama for Referred Conciliation Cases.

MAHARERA OPEN HOUSE MEETINGS

MahaRERA has initiated Open House Meetings via an online session on Webex, which are held every Friday
at 3:00 p.m. Every applicant who has a question about their pending registration or other issues must fill
out the Google Form with their application number and send it to CREDAI-MCHI every Thursday. On all
Fridays during the Open House Discussion, a MahaRERA technical person will respond to the question.

COMPLIANCES

MahaRERA had provided a list of 3000+ compliances, including lapsed projects, to CREDAI-MCHI,
which was immediately complied by coordinating with our members via emails/calling them and
informing them to comply the same as soon as possible and to update RERA accordingly with the Non-
Compliance Project Proponents to upload Form 4, Form 5, Form 2A, Commencement Certificate (CC),
Projects Expired, etc.

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 MahaRERA Conciliation Forum – MIS Report
REFERRED Cases - September 2021 to 30 August 2022

Sr. Bench Name Complaints Scheduled Yet to Success/ Failed withdrawn Not eady for
No. Count Scheduled Settled conciliation

1 Bench 1 Mumbai 109 16 0 22 66 4 1

2 Bench 4 Mumbai 103 2 0 37 62 1 1

3 Bench 5 Mumbai 90 7 3 31 46 2 1

4 Bench 6 Mumbai 100 11 0 20 65 0 4

5 Bench 8 Mumbai 14 0 0 581 0

6 Bench 9 Mumbai 58 2 0 18 38 0 0
58 6 0
7 Bench 4 Navi 65 19 0 13 39 0 4
Mumbai 16 0 0
52 25 0
8 Bench 1 Navi 95 15 0 15 26 1 0
Mumbai 71 11 0
0 0 0
9 Bench 2 Thane 831 114 0 754 11

10 Bench 1 Vasai- 0 11 15 1
Virar

11 Bench 1 Palghar 0 45 33 2

12 Bench 2 Kalyan- 0 6 54 0
Dom

13 Bench 1 Mira- 0 000
Bhy

TOTAL 3 230 457 16

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Normal Conciliation - September 2021 to 30 August 2022

Sr. Bench Name Complaints Scheduled Yet to Success/ Failed withdrawn Not eady for
No. Count Scheduled Settled conciliation

1 Bench 1 Mumbai 16 4 0 660 0

2 Bench 4 Mumbai 16 2 0 671 0

3 Bench 5 Mumbai 7 0 0 610 0

4 Bench 6 Mumbai 16 5 0 740 0
0
7 Bench 1 Navi 3 0 0 120 0
Mumbai 0
0
8 Bench 2 Thane 0 0 0 000 0
0
9 Bench 1 Vasai 1 0 0 010 0
Virar

10 Bench 1 Palghar 0 0 0 000

11 Bench 1 Kalyan/ 1 0 0 100
Dom

12 Bench 1 Mira/ 0 0 0 000
Bhy

TOTAL 60 12 5 25 17 1

REFERRED CONCILIATION 831
Normal Conciliation 60
TOTAL CONCILIATIONS held in 2021-22 891

{45}

few gliMpses of Maharera
VirTual ConCiliaTions

Representations

Total Representations 165
State Government 24
Central Government 189
Total Representations

STATE Government No. of representations submitted
Departments/Authorities
Chief Minister 2
Dy. Chief Minister 5
Chief Secretary 6
Urban Development Dept. 39
Revenue & Forest Dept. 15
Housing Dept. 10
MCGM 29
SRA 8
Town Planning 4
Environment 12
Industries 1
Chief Fire Officer 4
MahaRERA 5
MHADA 7
Other Municipal Corporations 2
CIDCO 6
IGR 5
MMRDA 2
Commissioner of Police 3
165
CENTRAL Government
Departments/Authorities 4
Finance 2
Housing 3
MoEF & CC 7
CBDT 8
Civil Aviation 24
189
TOTAL

All Representations are now available at:

{47}

credaI-MchI IMPact

CREDAI-MChI is proud to let you all know that based on its representation on the extension of the
instalment policy, the MCGM has extended the instalment policy for a year - i�e� till September 3, 2022�
Similarly, under the leadership of president Shri boman Irani, Shri Domnic Romell, Shri Shahid balwa,
and Shri Dhaval Ajmera, team
CREDAI-MChI has ensured the rationalisation of the CFO Capitation Fee� The most significant
accomplishment, however, was that once confirmed, the built-Up Area (bUA) will not be charged in
future amendments�

{48}

credaI-MchI
knowledge series webinar

Abhay Yojna: Stamp Duty Amnesty Scheme

CREDAI-MChI-organised webinar on Abhay Yojna: Stamp Duty Amnesty Scheme 2022 on 14th May
2022� The webinar was presented by CA Girish Jain, highlighting the introduction and implementation
of the notification issued by the Revenue Department on 19th April 2022� The webinar was attended by
more than 150+ members, which was highly appreciated by the attendees�

GST and Reviving Stalled projects

The Knowledge Series, organised by CREDAI-MChI and RpWA (RERA practitioners’ Welfare
Association), was focused on two important topics - GST Issues of Real Estate and Reviving Stalled
projects - Roadmap� The GST Issues of Real Estate Knowledge Series was conducted at the CREDAI-
MChI office on 16th June 2022, where CA Ashit Shah gave an in-depth presentation on GST to an online
audience of 200-plus members�
The session on Reviving Stalled projects - Roadmap was organised in collaboration with hSNC board’s
K�C� Law College at its auditorium on 22nd June 2022� The eminent panellists at this session, which
was moderated by CA Ashwin Shah, were Shri� Ajay Mehta (I�A�S� Retd�) - Chairman, MahaRERA, Dr
Vijay Satbir Singh (I�A�S� Retd�) Member, MahaRERA, Adv� parimal Shroff, Solicitor, parimal K Shroff
& Co�, Shri� boman Irani- president, CREDAI-MChI, Ar� Milind Changani, Co-Founder, C�Y� CORp LLp,
Shri� Rohit Gupta, head Real Estate Stressed Asset, Capri Global Capital Limited� The event partners
of this event, which saw an attendance of 500-plus, were Anukalam� health and Knest Manufacturers�

{49}

CREDAI-MCHI Collaborations

Credai Finance Conclave, 2021

The Confederation of Real Estate Developers’
Association of India (CREDAI) organized CREDAI
Financial Conclave on 29th October 2021 in Mumbai,
in collaboration with the Maharashtra Chamber of
Housing Industry (CREDAI-MCHI), to look for newer
avenues of financing for developers by collaborating
with banks and NBFCs given the sudden rise in
housing demand post-COVID-19. The all-day event
was inaugurated by keynote speaker Shri Deepak
Parekh, Chairman, HDFC LTD, accompanied by the
esteemed presence of Shri Satish Magar, Chairman,
CREDAI National, Shri Harsh Vardhan Patodia,
President, CREDAI National and CREDAI leadership.

Inauguration of CREDAI-MCHI Palghar Boisar Unit Office

On 4th August 2022, CREDAI-MCHI
Palghar-Boisar unit office inauguration
was held in the august presence of Shri
Govid Bodke (I.A.S.), Collector Palghar;
Shri Boman Irani President CREDAI-
MCHI, Shri Rajesh Mehta, President,
CREDAI-MCHI Palghar- Boisar Unit;
Shri Dhaval Ajmera Hon. Secretary
CREDAI-MCHI and Shri Prashant
Khandelwal, Secretary, CREDAI-
MCHI Palghar Boisar Unit. Along
with this, Chitranjan Kaushik, Chief
Operating Officer, EcoFirst, presented
a vision document proposing various
development models for Palghar-
Boisar by 2030.

Announcement
of the CREDAI-MCHI
Vasai- Virar Unit

CREDAI-MCHI announced the formation of a new
unit with the CREDAI-MCHI Vasai-Virar Unit, which
was formed in the 1st month of the new managing
committee’s 2022-23 term. It will be the 12th
city chapter of CREDAI-MCHI established in the

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