BMC Commissioner Stresses on Public-Private Partnerships for MMR Housing Stock
Dr. Bhushan Gagrani, Commissioner of the BrihanMumbai Municipal Corporation (BMC), highlighted the importance of public-private partnerships (PPP) to create enough housing stock in the Mumbai Metropolitan Region (MMR) during a panel discussion at HOMETHON
Publicprivate PartnershipsRedevelopmentBmcMmrAffordable HousingReal Estate MaharashtraOct 06, 2024
Responding to the real estate industry's demand for reducing the premium on redevelopment, Gagrani stated that various redevelopment avenues could be structured properly with due feasibility. He also stressed the need for incentivizing redevelopment, cautioning that incentives must not affect the financial feasibility of projects. \
Frequently Asked Questions
What is the role of public-private partnerships in creating housing stock in MMR?
Public-private partnerships (PPP) play a crucial role in creating enough housing stock in the Mumbai Metropolitan Region (MMR) by leveraging the expertise and resources of both public and private sectors, ensuring the redevelopment of old and eligible buildings is financially viable and efficient.
Why is it important to reduce the premium on redevelopment?
Reducing the premium on redevelopment is important to make projects more financially feasible, attract more developers, and ultimately create more affordable housing in the city.
What challenges does Mumbai face in terms of infrastructure during redevelopment?
Mumbai faces challenges with below-ground infrastructure such as sewage and water supply, especially as the per capita water usage increases. However, plans for surface infrastructure like urban mobility, parking areas, and road quality are already in place.
How does Section 33(7A) help in the redevelopment process?
Section 33(7A) applies to the redevelopment of dilapidated, unsafe, and authorized tenant-occupied buildings in the suburbs. It has been receiving positive responses from private societies, which are participating in competitive bidding from developers, making the process more transparent and efficient.
What is Grihamony Redevelopment Stakeholders Federations (GRSF)?
Grihamony Redevelopment Stakeholders Federations (GRSF) is a platform launched by NAREDCO Maharashtra in collaboration with Gautam Chatterjee to enhance awareness about the redevelopment process and educate society members and stakeholders.
Related News Articles
Aadhar Housing Finance Eyes Sustained Growth of Over 20% in Disbursements and Asset Base
Aadhar Housing Finance projects disbursements and assets under management to grow at over 20% this year
No Reversal on Real Estate LTCG Tweaks: Government Stands Firm
Government sources have confirmed that there will be no reevaluation of the changes made to Long Term Capital Gains tax (LTCG) in the Union Budget, despite concerns over the removal of Indexation benefit on property sales.
Navigating the Industrial REIT Landscape: A SWOT Analysis of EastGroup Properties
EastGroup Properties, a real estate investment trust (REIT) specializing in industrial properties, is at a crossroads in the ever-evolving industrial REIT landscape.
Godrej Group Makes Major Move in Mumbai Real Estate by Acquiring Land for Rs 81 Crore
In a strategic move, Godrej Group, through its real estate subsidiary Anamudi Real Estates, has acquired a significant plot of land in the bustling city of Mumbai for Rs 81 crore. This acquisition marks a major step in the company's expansion plans in one
Why Pattaya is the Next Big Thing for Indian Property Investors
A luxury sea-view condo in Pattaya costs as much as a mid-range apartment in Mumbai. Discover why Pattaya is quickly becoming a hot spot for Indian property investors, offering exceptional value and potential returns.
Akshaya Tritiya: Can It Spark a Surge in Real Estate Demand?
With reduced EMIs making home loans more affordable, Akshaya Tritiya could be the catalyst for a surge in real estate demand, especially in the luxury and high-end market segments.