Mumbai BMC Forms Real Estate Steering Committee to Boost EODB 2
The Brihanmumbai Municipal Corporation (BMC) has partnered with CREDAI-MCHI, NAREDCO Maharashtra, BDA, and PEATA to form a Real Estate Steering Committee. This committee aims to enhance Ease of Doing Business (EODB 2) and introduce AI into plan approvals.
Real EstateBmcEodb 2CredaimchiNaredcoReal EstateOct 28, 2025
Through this Committee, the BMC aims to introduce EODB 2 (Ease of Doing Business 2) and incorporate AI into plan approvals. The committee will seek representations from various developers’ associations and BMC officials regarding the issues facing the city's real estate sector. These issues will be discussed and assessed to seek real-time resolutions. Shri Gagrani informed the stakeholders during a meeting with top office-bearers from CREDAI-MCHI, NAREDCO Maharashtra, BDA, and PEATA held at the BMC Headquarters in Mumbai.
The decision is seen as a significant step to enhance collaboration between Mumbai’s municipal administration and the real estate industry. The Committee is proposed to meet fortnightly to discuss various key issues, policy matters, and opportunities for Mumbai’s Real Estate Sector. The meetings will be chaired by Deputy Chief Engineer (Office of the Municipal Commissioner) Shri Chandrashekhar Undge and the BMC Commissioner. Shri Gagrani will also participate in these meetings on a monthly basis. This structure will ensure that key decisions and recommendations are tracked, implemented, and reviewed regularly.
Building on the momentum of the convergence meet across various real estate associations, Shri Sukhraj Nahar, President of CREDAI-MCHI, and Shri Sandeep Runwal, Vice Chairman of NAREDCO Maharashtra, along with members of BDA and PEATA, organized a joint meeting with the Municipal Commissioner, Shri Bhushan Gagrani, and his team. The collaborative force of the real estate industry was evident as representatives from CREDAI-MCHI, NAREDCO Maharashtra, BDA, and PEATA held a marathon meeting with the Municipal Commissioner to discuss various policy issues and procedural bottlenecks affecting the real estate sector.
Among the key recommendations made during the interaction was a call to rationalize the premium payment schedule through a 10:10:80 structure. This model suggests that 10% of the premium would be paid at the time of approval, another 10% at the stage of Commencement Certificate (CC), and the balance 80% at the Occupation Certificate (OC) stage. Currently, developers are required to pay multiple premiums such as fungible FSI, open space deficiency, fire service charges, scrutiny fees, and development cess either upfront or under deferment schemes with 12% interest. These payments often place a heavy financial burden before any revenue is generated. The proposed structure aims to align payments with project cash flows, making them more practical and sustainable without affecting civic revenues.
Shri Sukhraj Nahar, President of CREDAI-MCHI, emphasized the industry’s commitment to constructive engagement with the municipal administration. He stated, “It is heartening to see all real estate associations come together with a unified voice. Our aim is to work collaboratively with the BMC to create structured mechanisms that ensure a regular dialogue, timely resolution of issues, and greater transparency in processes. The proposed 10:10:80 premium payment model is a fair and practical approach that aligns payment timelines with actual project progress and cash inflows while being revenue neutral from the administration’s standpoint.”
Shri Sandeep Runwal, Vice Chairman of NAREDCO Maharashtra, added that such joint initiatives mark an important shift towards collective problem-solving. He said, “The real estate industry is one of Mumbai’s key growth drivers, and regular engagement with the civic authorities is vital to unlock its full potential. We look forward to building on this momentum and ensuring that our suggestions translate into tangible improvements for both the industry and the city.”
The meeting signifies a continuation of the spirit of unity demonstrated during the Real Estate Leaders’ Convergence organized by CREDAI-MCHI earlier this month, where all the real estate and architect’s associations first resolved to represent the sector jointly. By presenting a common front and pragmatic solutions, CREDAI-MCHI, NAREDCO Maharashtra, PEATA, and BDA have taken another meaningful step towards strengthening industry-government dialogue for a more efficient and progressive real estate ecosystem in Mumbai.
Various dignitaries from MCHI – CREDAI, NAREDCO Maharashtra, BDA, and PEATA were present on this occasion. Among the dignitaries present were Shri Rajan Bandlkar, Vice Chairman of NAREDCO; Miss Manju Yagnik, Senior Vice President of NAREDCO Maharashtra; Shri Kamlesh Thakur, Vice President of NAREDCO Maharashtra; Shri Dominic Romell, Immediate Past President of CREDAI–MCHI; Shri Bandish Ajmera, President-Elect of CREDAI–MCHI; Shri Rushi Mehta, Secretary of CREDAI–MCHI; Shri Jitubhai Mehta, Senior Vice President of CREDAI–MCHI; Shri Aditya Mirchandani, MC member of CREDAI-MCHI; Shri Keval Valambhia, COO of CREDAI–MCHI; Shri Vikram Mehta, President of BDA; along with Shri Ritesh Shah, Shri Bhushan Nemlekar, Shri Sudhir Lohiya, and Shri Bhavik Mehta from BDA; Shri Sandip Isore, President of PEATA; Shri Milind Changani, Secretary of PEATA; Shri Suyog Seth; Architect Shri Shashi Jadhav; and Shri Manoj Dubal, all from PEATA.
Frequently Asked Questions
What is the Real Estate Steering Committee?
The Real Estate Steering Committee is a collaborative body formed by the Brihanmumbai Municipal Corporation (BMC) and real estate associations like CREDAI-MCHI, NAREDCO Maharashtra, BDA, and PEATA. It aims to enhance Ease of Doing Business (EODB 2) and introduce AI into plan approvals.
What is the 10:10:80 premium payment model?
The 10:10:80 premium payment model proposes that developers pay 10% of the premium at the time of approval, another 10% at the stage of Commencement Certificate (CC), and the remaining 80% at the Occupation Certificate (OC) stage. This model aims to align payments with project cash flows.
Who will chair the Real Estate Steering Committee meetings?
The meetings of the Real Estate Steering Committee will be chaired by Deputy Chief Engineer (Office of the Municipal Commissioner) Shri Chandrashekhar Undge and the BMC Commissioner. Shri Bhushan Gagrani will also participate in these meetings on a monthly basis.
What are the key issues the committee will address?
The committee will address various key issues, policy matters, and opportunities for Mumbai’s Real Estate Sector, including procedural bottlenecks, policy issues, and the introduction of AI into plan approvals.
How often will the committee meet?
The Real Estate Steering Committee is proposed to meet fortnightly to ensure regular dialogue, timely resolution of issues, and greater transparency in processes.
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