The committee will take care of development-related aspects and suggest solutions to problems in real estate infrastructure development in Navi Mumbai. (File photo)To address issues related to real estate development in Navi Mumbai, the government of Maharashtra led by housing minister Devendra Fadnavis formed a committee of experts. A notification on this has been issued by the housing department.
The committee will comprise former Chief Secretary, Principal Secretary, Urban Development-II, Joint Managing Director, CIDCO and representatives of CREDAI-MCHI-BANM (Confederation of Real Estate Developers’ Associations of India- Maharashtra Chamber of Housing Industry–Builders Association of Navi Mumbai). According to the housing minister, the committee will take care of development-related aspects and suggest solutions to problems in real estate infrastructure development.
CIDCO undertakes various mega infrastructure projects, including Navi Mumbai International Airport, Navi Mumbai Metro, NAINA, Corporate Park etc. CIDCO has allotted land parcels on lease to different real estate developers to create residential and commercial projects. At the same time, it is also responsible for developing the required infrastructure with civic amenities on these plots and in the adjoining areas. This committee is formed to fast-track the various processes like developing roads, water supply and other basic infrastructure.
Dr Sanjay Mukherjee, vice chairman and managing director of CIDCO, said, “CIDCO has always been in the forefront in providing innovative solutions for the betterment of the real estate industry in Navi Mumbai. Recently under the guidance of the Chief Minister of Maharashtra, Eknath Shinde, we have inaugurated the Ease of Doing Business Cell for the benefit of real estate developers and homebuyers which will bring more transparency in the functioning. This move will help expedite various projects and pave the path for the rapid development of the real sector in Navi Mumbai and adjacent areas.”
CIDCO has allotted land parcels on lease to various real estate developers to create residential and commercial projects. At the same time, CIDCO will be responsible for bringing the required infrastructure and civic amenities to these plots and their immediate vicinity. However, despite the developers completing their projects on time at various plots and locations, basic infrastructure like roads, water and other basic amenities is taking time, eventually delaying the OC clearance. Boman Irani, president of CREDAI MCHI, stated, “We at CREDAI-MCHI had formed a task force to try and resolve the issues faced by our developer members working in Navi Mumbai and Raigad regions. We have nominated Raajesh Prajapati and Keval Valambhia to become a member of this committee.”
Raajesh Prajapati, convenor of CIDCO task force of CREDAI-MCHI, said, “Many projects were delayed due to the delay in providing basic infrastructure, leading to a massive increase in additional lease premium in the recent past leading to stoppage of work in various projects thus affecting the home buyers.”
He added, “We are happy that the government of Maharashtra has accepted our recommendation and formed a committee in which I shall be representing developers of Navi Mumbai on behalf of CREDAI-MCHI and will actively provide suggestions on how to rationalise the spiralling cost of premiums/penalties and provide relief to the real estate industry in Navi Mumbai. This move will help restart various stuck projects and clear how to give possession to various home buyers in projects held up due to delay in resolution of premium issues by CIDCO.”