Sanjeev Jaiswal, CEO, MHADA, ET RealEstate
NEW DELHI: We need robust public-private partnerships to revamp Mumbai’s timeworn housing stock, said Sanjeev Jaiswal, vice president & CEO, MHADA. He was speaking at CREDAI-MCHI’s Ease of Doing Redevelopment (EODR) 2.0 held in Mumbai.
“Mumbai’s landlocked nature makes land availability a perpetual challenge. The recent amendment to Section 91A, empowering MHADA to take over stalled projects, is both timely and necessary. Compensation to landowners, long a hurdle in cess building redevelopment, is now addressed with fair provisions under Section 79A. Redevelopment is not merely about constructing new buildings—it’s about viability, transparency, and timely delivery. A clear FSI framework and honest communication are key to safeguarding both tenant rights and project feasibility,” said Jaiswal.
Boman Irani, president, CREDAI National and CMD of Rustomjee Group said, “Redevelopment is a collaborative journey. Societies must look beyond numbers—focus on a developer’s intent, track record, and financial strength. Once your committee and consultants are appointed, trust them. Choose a transparent PMC and competent legal counsel, but avoid stalling progress by being overly cautious. This is a highrisk sector—only partnership and open dialogue can turn your dream home into reality.”
Domnic Romell, president, CREDAI-MCHI and director of Romell Group, said, “Redevelopment is driven by need, not greed. In today’s RERA-regulated era, the demand for excessive bank guarantees is both outdated and unnecessary. All funds are strictly monitored via escrow accounts. Understand your entitlements, such as the 35% fungible FSI, and make informed decisions with the right guidance. Let us move away from unrealistic expectations and outdated norms—redevelopment must work in the best interest of the residents.”
