Mumbai BMC Launches Real Estate Steering Committee for Enhanced EODB
The Brihanmumbai Municipal Corporation (BMC) has formed a 'Real Estate Steering Committee' to improve Ease of Doing Business (EODB) in Mumbai's real estate sector. The committee includes representatives from CREDAI-MCHI, NAREDCO Maharashtra, PEATA, and BDA, along with BMC officers.
Real EstateBmcEodbCredaimchiNaredco MaharashtraReal Estate MaharashtraOct 28, 2025
The primary aim of the committee is to introduce EODB 2, which includes the integration of AI into plan approvals. The committee will meet fortnightly to discuss and address various issues plaguing the city's real estate sector. These meetings will be chaired by Deputy Chief Engineer (Office of the Municipal Commissioner) Shri Chandrashekhar Undge and BMC Commissioner Shri Gagrani, who will also participate in monthly meetings to ensure key decisions are tracked and implemented.
Building on the momentum of the convergence meet across various real estate associations, a joint meeting was organized with the Municipal Commissioner, Brihanmumbai Municipal Corporation (BMC), Shri Bhushan Gagrani, and his team. The meeting was attended by top office-bearers from CREDAI-MCHI, NAREDCO Maharashtra, BDA, and PEATA. The collaborative effort was evident as representatives from these associations discussed various policy issues and procedural bottlenecks affecting the real estate sector.
Among the key recommendations made during the meeting was a call to rationalize the premium payment schedule through a 10:10:80 structure. This structure proposes that 10% of the premium be paid at the time of approval, another 10% at the stage of the Commencement Certificate (CC), and the remaining 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. This payment structure places a heavy financial burden on developers before any revenue is generated. The proposed 10:10:80 model 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 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 real estate and architect 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. Notable attendees included Shri Rajan Bandlkar, Vice Chairman, NAREDCO; Miss Manju Yagnik, Senior Vice President, NAREDCO Maharashtra; Shri Kamlesh Thakur, Vice President, NAREDCO Maharashtra; Shri Dominic Romell, Immediate Past President, CREDAI–MCHI; Shri Bandish Ajmera, President-Elect, CREDAI–MCHI; Shri Rushi Mehta, Secretary, CREDAI–MCHI; Shri Jitubhai Mehta, Senior Vice President, CREDAI–MCHI; Shri Aditya Mirchandani, MC member CREDAI-MCHI; Shri Keval Valambhia, COO, CREDAI–MCHI; Shri Vikram Mehta, President, BDA; along with Shri Ritesh Shah, Shri Bhushan Nemlekar, Shri Sudhir Lohiya, and Shri Bhavik Mehta from BDA; Shri Sandip Isore, President, PEATA; Shri Milind Changani, Secretary, PEATA; Shri Suyog Seth; Architect Shri Shashi Jadhav, and Shri Manoj Dubal from PEATA.
Frequently Asked Questions
What is the Real Estate Steering Committee?
The Real Estate Steering Committee is a body formed by the Brihanmumbai Municipal Corporation (BMC) to improve the Ease of Doing Business (EODB) in Mumbai's real estate sector. It includes representatives from key real estate associations and BMC officers.
What is the 10:10:80 premium payment model?
The 10:10:80 premium payment model proposes that 10% of the premium be paid at the time of approval, another 10% at the stage of the Commencement Certificate (CC), and the remaining 80% at the Occupation Certificate (OC) stage. This model aims to align payments with project cash flows and make them more sustainable.
Who are the key real estate associations involved in the committee?
The key real estate associations involved in the committee are CREDAI-MCHI, NAREDCO Maharashtra, PEATA, and BDA.
How often will the committee meet?
The committee will meet fortnightly to discuss various issues, policy matters, and opportunities for Mumbai’s real estate sector.
What is the main goal of the committee?
The main goal of the committee is to introduce EODB 2, which includes the integration of AI into plan approvals, and to ensure regular dialogue, timely resolution of issues, and greater transparency in processes.
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