QUARTERLY BULLETIN

July - September 2020

1 TABLE OF CONTENTS

• Message from the President’s desk 03

• Message from the Editor’s desk 05

• Past Presidents 07

• CREDAI-MCHI Managing Committee 2020-21 08

• CREDAI-MCHI Events & IPs Committee 2020-21 11

• CREDAI-MCHI Youth Wing Committee 2020-21 12

• CREDAI-MCHI Women’s Wing Committee 2020-21 14

• CREDAI-MCHI Procurement Wing 2020-21 15

• List of Task Owners of CREDAI-MCHI 17

• Change of Guard 22

• 38TH AGM 25

• SECRETARIAT’S DESK

 Meetings 34

 Representations 35

• CREDAI-MCHI E-BIZNET 47

• CSR

 Mobile Dispensary Seva Vans 52

 CREDAI-MCHI Women's Wing Webinar 54

• #ReviveRealEstateReviveEconomy 55

• CREDAI - MCHI in the News 56 MESSAGE

Deepak Goradia FROM THE PRESIDENT’S DESK

I convey my warm greetings and heartfelt thanks to everyone for the honor of recently appointing me as President, CREDAI-MCHI. To head this apex developers’ body which has a glorious legacy of over 35 years, is indeed a huge honour and privilege for me. This year my team’s key agenda is :

• To increase participation of small-mid scale developers operating across MMR • To create taskforces mentored by Senior Members and having active participation of the Youth Wing members in day today operations • Formation of Working Group for various focus areas like SRA, MHADA 33(7), MHADA 33(5), Society Redevelopment, Central Suburb, Western Suburb, PMAY and CIDCO • Formation of “General Council – MMR” for better co-ordination of various MMR Units • Formation of “Advisory Council – MMR” comprising of various Industry Experts like veteran Bankers, renowned professionals, senior Corporate Real Estate professionals, IPC leaders etc. who shall be the ‘Think Tank’ to provide Thought Leadership to the Industry at large • Expansion of presence in new geography in MMR by installing new Units • To improve knowledge and skills of members through certification courses, webinars, knowledge sharing initiatives, skill development programs and such various other initiatives

3 • To enhance and further strengthen “Member Assistance Cell” on various pressing business issues by our Senior Past Presidents • To increase participation of the Women Wing in various initiatives

It is my conviction that as a collective, cohesive and well-knit group comprising all of us, we can achieve any heights. I shall try to build a strong Real Estate brand through energized CREDAI-MCHI, by way of developing a process of all-inclusiveness and wider consultations.

It is very important that we set our priorities right and constantly align ourselves to current challenging scenario while ensuring that our focus on growth and achieving excellence remains undeterred. We will have to continuously evolve in all spheres of our activities and keep ourselves abreast with the latest technologies and best construction practices, to deliver world class products and services to our customers.

I would also ensure that CREDAI-MCHI becomes one of the key contributors towards our shared Vision 2022 through our major initiatives – Re-imagine, Re-build, Revive. I eagerly look forward to your support and cooperation in leading the association to greater all-inclusiveness and collective success of us all.

With Warm Regards,

4 MESSAGE

Dr. Adv. Harshul Savla FROM THE EDITOR’S DESK

Seasons Greetings !

This edition of Quarterly Bulletin marks the change of Leadership of CREDAI-MCHI. The new managing committee is committed to the vision envisaged by previous past Presidents of creating favourable Business Environment for Real Estate Developers of MMR and to make Real Estate Sector more Organised and Progressive by working closely with all Stakeholders. On an immediate short term basis the associations mission is to revive and grow Indian Economy through Creation of 1 lakhs New Jobs in Mumbai Metropolitan Region – Skilled, Unskilled and Entrepreneurial and to grow Consumer Demand for Real Estate through various Initiatives and Activities.

CREDAI-MCHI has organised itself into various Task Forces wherein youth will be actively involved in the day to day participation. The systematic and structured approach will surely go a long way in helping the association in achieving its mission and vision. The Secretariat has conducted various meetings and made more than 100 representations to ensure Real Estate Development Business’s Financial & Technical Viability.

5 The E-Biznet was a roaring success and saw participation of more than 311 Procurement Teams across the nation. MMR Action Committee’s petition on Reviving Real Estate to Revive Indian Economy generated more than 38,000 online signatures across the country. Public Relations Team has ensured that our association has regularly been in news with our views and appeals. CREDAI-MCHI has also been forthcoming on various CSR initiatives like the MDSV (Mobile Dispensary Seva Vans) and Mission Zero to fight the COVID-19 pandem- ic. Lastly, we express our gratitude to our Partners and Sponsors for encouraging our various initiatives.

With Warm Regards,

6 PAST PRESIDENTS

Late Babubhai Majethia Late Lalit Gandhi Late G.L. Raheja (1982-1993) (1993- 1996) (1996-1999)

Rajnikant S Ajmera Niranjan Hiranandani Mofatraj Munot (1999-2002) (2002-2004) (2004-2006)

Mohan Deshmukh Pravin Doshi Sunil Mantri (2006-2008) (2008-2010) (2010-2011)

Paras Gundecha Vyomesh Shah Dharmesh Jain (2011- 2013) (2013-2015) (2015-2017)

Mayur Shah (2017-2018)

7 CREDAI - MCHI MANAGING COMMITTEE 2020-21

IMMEDIATE PRESIDENT PAST PRESIDENT PRESIDENT - ELECT

Deepak Goradia Nayan Shah Boman R. Irani

SR. VICE PRESIDENTS

Harish Patel Nainesh Shah Domnic Romell Bandish Ajmera

VICE PRESIDENTS

Sukhraj Nahar Jayesh Shah Ajay Ashar

HON. SECRETARY TREASURER

Pritam Chivukula Munish Doshi

8 CREDAI - MCHI MANAGING COMMITTEE 2020-21 SPECIAL PROJECTS

Parag Munot Sandeep Raheja Navin Makhija

Rasesh Kanakia Shahid Balwa Subodh Runwal

HON JT. SECRETARY

Shailesh G. Puranik Dhaval Ajmera Pratik Patel

JT. TREASURER

Mukesh Patel Tejas Vyas

CO-ORDINATOR

Nayan Bheda Raajesh Prajapati Dr. Adv. Harshul Savla

9 CREDAI - MCHI MANAGING COMMITTEE 2020-21 COMMITTEE MEMBER

Gautam Ahuja Deepak Gundecha

INVITEE MEMBER

Shailesh Sanghvi Sachin Mirani Nikunj Sanghavi Rajeev Jain Shymal Mody

Digant Parekh Rushank Shah Samyag Shah Jayesh C. Shah

Sunny Bijlani Sahil Parikh Naman Shah

Ricardo Romell Binitha Dalal

10 CREDAI-MCHI EVENTS & IPs COMMITTEE

MENTOR

Bandish Ajmera CHAIRMAN

Pratik Patel CHAIRMAN ELECT

Dhaval Ajmera

CONVENER

Rajeev Jain Aditya Shah Nikunj Sanghavi Exhibition Marketing Forum Youth Wing

Nimish Ajmera Akshay Agarwal Binitha Dalal Biznet & WeProcure Associate Membership Banking Forum

Tejas Vyas MPL 11 CREDAI - MCHI YOUTH WING COMMITTEE 2020-21

CONVENER

Nikunj Sanghavi

Aditya Mirchandani Ashiyan Khot Aditya Shah Ashmal Khot Anand Mane Avinash Wadhwani Soham Patel Binitha Dalal Aaditya Sanghvi Chintan Sheth Aashay Jain Deepak Mehta Abhishek Dhairya Shah Akshay Jain Dhaval Dodiya Amrik Singh Nagpal Dhruvil Patel Anand Mane Dipesh Kundhadia Anand Modi Dr. H.C. Adv. Harshul Savla Anikaa Wasan Gagandeep Nagpal Anmol Luman Gaurav Gharat Anuj Goradia Gaurav Sharma Anup Jhamtani Gaurav Thakker Ar Dilip Deshmukh Hafsa Imran Ar. Ajay Nahar Harsh Gandhi Arjun Thesia Harshil Shah Arun Jadhwani Hitane Mewani Ashish Kanakia Hiten Chhadva

12 Hitesh Jain Raunak Rathi Husssain Lalani Ricardo Romell Imran Maknojia Rikhav Shah Jay Vora Rishi Todi Jayesh Chauhan Ritesh Shah Jaysinh Dave Rohan Chheda Jigar Ajmera Ruchit Mehta Jitesh Agrawal Rushabh Satra Jitesh Jain Rushi Ajmera Keshav Modi Sagar Galani Ketki Sanjay Patil Samyag Shah Kunal Kataria Samyak Jain Kushagra Patel Sanjay N Damani Madhur Gupta Shilpin Tater Mahek Jain Shreya Doshi Manish Chugh Shubham Jain Manish Dedhia Siddharth Shah Manish Kothari Smeet Modi Manish Rajgor Soham Narang Milind Chavan Sunny R Bijlani Mit Gala Tushar Dabhole Mohsin Maknojia Umang Kuwadia Naman Shah Vicky Oswal Nimit Mehta Viivek M.Jain Nishit Atal Vijaybhai Parekh Pakshal Sanghvi Vinit S Modi Prachi Jain Vishal Jumanj Premal Desai Vrutika Satra Purav Shah Yash Ajmera Raj Valia Yash Mutha Rajesh Khetwani Yogesh Mewani Ranbir Nagpal

13 CREDAI-MCHI WOMEN’S WING COMMITTEE 2020-21

HON. CHAIRPERSON HON. VICE CHAIRPERSON

Richa Shah Falguni Shah

HON. SECRETARY HON. TREASURER

Jesal Shah Sejal Goradia

SPECIAL PROJECTS

Sonal Shah Anuradha Shah Mona Ajmera

MANAGER

Reena Noronha 14 PROCUREMENT WING MEMBERS

CONVENER

Nimish Ajmera, Ajmera Realty & Infra Ltd

CO-CONVENER

Akshay Agarwal, Arihant Superstructure

Nilesh Puranik, Puranik Builders Pvt. Ltd

ADVISORY MEMBERS

Amar Tendulkar, Mahindra Realty Bhavin Khant, Dosti Group Bhavin Shah, Acme Housing Chandresh Mehta, Keystone Realtors Pvt. Ltd. D. R. Jalan, Sunteck Realty D. S Rao, Naman Group

15 ADVISORY MEMBERS

Deepak Vibhute, Hiranandani Communities Dhimant Choksi, Ajmera Realty & Infra Ltd Dinesh Shinde, Lokhandwala Group Hetal Joshi , Piramal Realty M. S. Darukesh, S D Corp Mohan Upaddhye, Capscium Global Realty Mukesh Jaitley, The Wadhwa Group Neerav Parmar, Shapoorji Pallonji Real Estate Nihar Gandhi, Tata Housing Nozer Sadri, Shapoorji Pallonji Construction Prashant Mewada, DLF Punam Ingle, Godrej Properties Rohan Bagadiya, Transcon Builders Salil Pandya, Runwal Group Sandip Shah, Omkar Realtors Sanjay Sanghvi, Kanakia Spaces Pvt. Ltd Sanjay Sutar, Godrej & Boyce Seema Jobanputra, Ashar Group Shabbir H Kanchwala, K Raheja Corp Tikam Jain, Lodha Group Urvesh Mehta, Marathon Realty Vikas Lad, Mayfair Housing Vivekanand Kundle, Kalpataru Constructions Yogesh Hate, Raiaskaran

16 CREDAI-MCHI KRA & TASK LIST

SR. NO. NAME OF COMMITTEE TASK OWNER PLAN OF ACTION/TERMS OF REFERENCE

RBI / Banks / HFC / NBFC

1) One-time Restructuring with SM1, SM2 and NPA loans. 2) Increase in the sanction limits by all Banks/NBFCs and listed debentures by 20% with no additional security @ MCLR 3) One to one meeting with Chairman’s of Banks/ HFC/ NBFC  Reduction in the lending rate for Construction Finance to developers  Get reduction of interest cost benefits as per RBI

Finance Ministry

1) Any purchase of the property up to 31st March 2022, the purchase cost and interest RBI thereon, should be allowed as a deduction 1. Banking Relations Mr. Boman Irani Finance Ministry under Income Tax Act, over a period of 7 years, provided the property acquired is self-occupied or if it is not self-occupied, then it is given on rent or leave and license, for a period of not less than six months in each of the financial year

2) Reduce housing loan interest rates to 5% for limited period and promote rental housing further, entire rental income be exempted for next 5 years.

3) 80 IBA: definition of affordable housing unit i.e. 60 sq. meters. for metros and 120 sq. meters. for non-metros.

4) At option of Developer, to restore, Input tax credit with GST @8% Affordable house definition for metro cities where size of unit is upto 60 sq mtrs, the price cap of Rs 45 lakhs should be removed for metro cities.

17 CREDAI-MCHI KRA & TASK LIST

SR. NO. NAME OF COMMITTEE TASK OWNER PLAN OF ACTION/TERMS OF REFERENCE

Housing / RERA

1) Automatic extension of 9 Months to Project Completion period and the same not to be treated as an extension under the Provision of Section 6 of RERA. Automatic extension of Nine months to possession date of handing over of an apartment while adjudicating complaints under section of 18 RERA. 2) Issue directions that till 31st March 2021, interest payable to lenders of Real Estate 2. Housing Department Mr. Vyomesh Shah Project not to be added to total cost of (RERA) construction and consequentially such interest not to be paid out of 70% Escrow Account. 3) Reliefs in relation to cancellation of apartment and compensation for delay in handing over of apartment and payment of the same.

SRA

1) Work towards bringing changes with respect SRA to ease of doing business. 2) To bring necessary changes required in DCPR Reg. 33(10)

1) All premium such as Fungible/ Open Space Deficiency/ Staircase premium to be reduced by 90% on residual payment basis & for all future projects for next 2 years.

Back ending of pending installments until OC

Premium to be paid on a 10:90 scheme i.e UDD / All other 10% upon issue of CC and 90% before OC to 3. corporations and Planning Mr. Ajay Ashar be paid in proportion to the O.C granted. The Authorities / UDCPR amount deferred to be secured by lien / mortgage of sale units with No Interest across MMR.

2) Sanctioned of UDCPR

3) Necessary Modification in DCPR 2034 & Sanctioned of Pending EP’s

18 CREDAI-MCHI KRA & TASK LIST

SR. NO. NAME OF COMMITTEE TASK OWNER PLAN OF ACTION/TERMS OF REFERENCE

Revenue department

1) Stamp duty on sale of residential and commercial units to reduce to 1% till Dec 2020 2) Rationalization of Ready Reckoner Rates • To be reduced at least by 20% and land rate should be 25% of sale of residential flats in city of Mumbai. • Under construction unit to be 80% of the value of completed / ready unit Revenue Department 4. Mr. Shahid Balwa Due to this anomaly, tax liability under Section 43CA of Income Tax Act

MHADA

1.) Work towards bringing changes with respect MHADA 33(5), 33(7), 33(7) A, 33(9) to ease of doing business. 2.) To bring necessary changes required in DCPR reg 33(5), 33(7), 33(7) A

1) Necessary changes in the policy

2) All property taxes dues of earlier as per recovery notices and for current year should not be collected till March 2021.

5. MCGM Mr. Mayur Shah 3) Relaxing the construction working time and make the 24 hours working. e.g. Accommoda- tion Reservation, Slum, Public Parking Lot, MHADA, relax conditions precedents and allow sale building and tenant or govt building with an overall cap on OC allow to recover the lost period

Legal team and examine all issues

6. Legal Issues Mr. Nainesh Shah 1) Possibility of force majeure

2) No interest to be charged during Covid time

19 CREDAI-MCHI KRA & TASK LIST

SR. NO. NAME OF COMMITTEE TASK OWNER PLAN OF ACTION/TERMS OF REFERENCE

1) Finalizing the Suggestion/ Objection of MoEF Notification 7. Environment Mr. Deepak Goradia 2) Work towards bringing necessary changes with respect to ease of doing business in MoEF Clearance

1) Amendment to GSR 751(E): Final Notification 2) Measures to ease the process for conduct of 8. Civil Aviation Mr. Kunal Chheda aeronautical Studies 3) OLS issue

Unity team NAREDCO, 9. CDWA, BDA, Mr. Bandish Ajmera Common Minimum Programme CREDAI NATIONAL

CP, Consultants, Advocates, Advisory to the Industry 10. Architect, Structural Mr. Harish Patel To achieve the cost saving in various professional Designers, MEP Consultants, Counsels, Advocates fees to members.

Vendors Management & Purchase of Materials 11. Procurement Wing, Mr. Nimish Ajmera Endeavor to achieve at least 10% saving on Vendors, Suppliers construction cost

Real Estate Sahi Hai 12. Marketing Campaign Mr. Pritam Chivukula Campaign to start one-month post lockdown and on Real Estate continue long term, minimum 2 to 3 years.

To ensure maximum publicity for CREDAI-MCHI 13. Public Relation Mr. Raajesh Prajapati on media as well as on Social Media

To be the central consolidated data bank for the purpose of various representations and media 14. briefings. The task force will on a quarterly basis Research & Analytics Wing Mr. Nayan Shah publish Research Papers and also explore Collaborative Research Studies with various Stakeholders of our Sector.

15. Members Assistance under RERA. SWAMIH Members Assistance Mr. Vyomesh Shah fund. Consumer forum, NPA issues Etc.

20 CREDAI-MCHI KRA & TASK LIST

SR. NO. NAME OF COMMITTEE TASK OWNER PLAN OF ACTION/TERMS OF REFERENCE

16. PMAY / Affordable Housing Mr. Nikunj Sanghvi

17. Skill Development Dr. Adv. Harshul Savla

18. Youth Wing Mr. Nikunj Sanghvi

19. Events and Exhibitions Mr.Pratik Patel

Vendors Management & Purchase of Materials 20. Women’s Wing Mrs. Richa Shah Endeavor to achieve at least 10% saving on construction cost

Covid 19 fight 21. CSR Mr.Dharmesh Jain Ambulance Services

*Task owner to select his team in consultation with president.

21 CHANGE OF GUARD

CREDAI-MCHI AIMS TO CREATE 1 LAC NEW JOBS IN NEXT ONE YEAR; ANNOUNCED IN THE CHANGE OF GUARD FOR 2020-21

Deepak Goradia took over as new CREDAI MCHI President with a mission to “Revive MMR Realty” amid Covid – 19 Aims at Building a more Cohesive Industrial Ecosystem in MMR throughholistic advocacy and technological initiatives to enhance stakeholder confidence

Mumbai, 31st August: CREDAI MCHI, the apex body of Real Estate Developers with over 1800+ member developers present across the Mumbai Metropolitan Region (MMR), organized its ‘Change of Guard’ with Mr. Deepak Goradia took over as the new president. The installation ceremony saw the gracious presence of CREDAI MCHI Management Committee members, industry stalwarts, digni- taries including Shri Eknath Shinde, Honorable Minister of Urban Development and PWD, Govt. of Maharashtra and Dr. Jitendra Awhad, Honorable Minister for Housing Department, Govt. of Maharashtra.

22 Mr. Deepak Goradia, in his maiden address, committed himself to “Reviving MMR Real Estate”, in light of the prevailing slowdown brought upon by Covid – 19. Taking CREDAI-MCHI’s 3 and half decades plus strong legacy forward built by his predecessors, Mr. Goradia aims to create 1 lac jobs in the next one year through its 1800+ developer members by way of new projects and initiatives. Strengthening CREDAI MCHI’s commitment towards the growth of the Maharashtra Economy, Mr. Goradia and his team intend to build a stronger advocacy ecosystem and aim to address the most pertinent issues currently acting as major hurdles for the sector. The new leadership team has prepared a comprehensive roadmap for reviving MMR Realty as well as the confidence of stakeholders, and will enhance its focus on improving knowledge and skill of member developers through Certification Courses, Webinars, Knowledge Sharing, Skill Development programs etc. Under the leadership of Mr. Goradia, the new team will also explore more opportunities to continue working with statutory bodies like MahaRERA, Mumbai Grahak Panchayat etc, to collectively work towards establishing a more conducive industrial environment, while also continuing to undertake comprehensive skilling initiatives to create and sustain a talent pool of Skilled labor for the Indian Real Estate industry.

As a leading industry body, CREDAI MCHI has consistently spearheaded numerous initiatives such as Women’s Wing, Youth Wing, among others, which Mr. Goradia

23 intends to build on, in line with the best interests of the MMR Real Estate sector and its stakeholders.

CREDAI- MCHI President, Mr. Deepak Goradia in his address said that “ He was extremely privileged to take the distinguished role of being the new President of CREDAI MCHI. The last 31 years had been a glorious journey for all of us here and we intend on building on this strong foundation to lead a new era for MMR Real Estate.

Given the current circumstances brought upon by the pandemic, CREDAI MCHI is highly determined to reignite the progress of the industry which acts as the strongest pillar of the state’s economy. We want to bring back the smiles on the faces of not just our developer members but the entire eco-system, including homebuyers and the 225+ allied industries who are closely associated with us. Subject to a conducive business environment, we aim to create 1 lac new jobs, with a potential cascading effect of generating thousands of more jobs in the allied Industries in the next 1 year, further strengthening our commitment towards MMR stakeholders and the growth of Maharashtra’s economy.”

Former CREDAI MCHI President, Mr. Nayan Shah, shared his comment and congratulated Mr. Deepak Goradia and shared his best wishes for embarking on this extremely exciting journey as the new President of CREDAI MCHI. The last two years, and especially the last few months, have been somewhat tumultuous for the entire real estate fraternity. Given Mr. Goradia’s experience and stature in the sector, we all are extremely confident and look forward to the dawn of a new era for MMR Real Estate under his able leadership.”

24 38TH AGM REPORT

The 38th AGM of CREDAI MCHI was held on Friday, September 25, 2020 at 4:30 pm through Zoom Meeting. The Meeting was well attended by 207 Members.

The Meeting started with the statutory proceedings such as reading and confirming the minutes of the 37th AGM, adopting the auditor’s report and audited statements of accounts ending 31st March 2020, the annual report 2019-20 were received, approved and adopted and appointed Auditor J H & Co for the year 2020-21.

The following key changes in the Memorandum and Rules and Regulations were ratified and accordingly the resolutions were also passed by the Members (i) Amendment in the structure of the Managing Committee (ii) Appointment of the new Managing Committee for the year 2020-2021. (iii) Modification/addition of categories of memberships and revision in membership fees.

25 The existing Membership rates were reduced and the revision in rates are effective from 25th September 2020. In order to strength- en the membership of CREDAI MCHI, new categories such as Banks, NBFC, HFCs etc. and Professionals like Architects, Interior Designers and Lawyers.

Later Shri Mayur Shah, the Returning Officer for the Election of Managing Committee de- clared the election results of the 14 Members who were elected unanimously for the term 2020-21, 2021-22, 2022-23.

Shri Deepak Goradia, President welcomed the Panelist, Past Presidents, Managing Committee Members and members of CRE- DAI-MCHI. He informed that the Change of Guard ceremony was held on 31st August 2020 and new Managing Committee took the charge from 1st of September 2020. President’s vision and missions, Key Agenda points have been printed in the Annual Gen- eral book which was circulated amongst the members. Our goal for this year is reduction of cost and creation of demand. He further said that in MMR we are paying highest pre- mium compared to other cities across India. CREDAI-MCHI has highlighted this to Gov- ernment. The Government has appointed Dr. Kelkar Committee for the revival of economy for the State of Maharashtra. Shri. Deepak Parikh is the part of this Committee and represents Real estate sector.

26 CREDAI-MCHI had a meeting with Chief Minister, Deputy Chief Minister, Revenue Minister, Minister of Urban Development, Minister for Housing and Secretariat of various departments and they all are supporting for the reduction of premium and charges. We expect good announcement from the Government to come by end of this month or in the early next month which will support Real Estate industry. CREDAI-MCHI expressed their views to Hon’ble Revenue Minister about reduction of Stamp Duty and also discussed about increase in Ready Reckoner Rates. CREDAI-MCHI is also working on various issues related to Real Estate Industry.

He further informed that we have formed various tasks which is headed by Sr. Mem- bers along with interested members, youth members and they are working on various subject matter like SRA, MHADA, 33 (7), 33 (5), Society Redevelopment, Central Gov- ernment, PMAY, CIDCO etc. These working groups will present representations on the concerned subject to the respective authorities.

To create a demand, we are proposed to hold virtual property exhibition, PR Team is working on creation of the positive sentiments by various articles on the media and newspapers. We are also introducing campaign Ghar Hai to Sahi Hai, the right in- vestment at the right price. Now a days property available to the end user is the best possible prices in today’s time along with lowest interest home loan rate and with low stamp duty. It is the best time to buy a property. We are communicating this message through various media to our home.

27 Demand Generation and Consumer Sentiments — The Way Forward The panelists were :- 1. Shri Abhishek Lodha, Managing Director, Lodha Group 2. Shri Vipul Roongta, MD & CEO, HDFC Capital Advisors Ltd

Shri Anuj Puri, Chairman, Anarock Property Consultants Pvt. Ltd. mentioned that whatever transpired in these 6 months, for Real Estate and especially residential, its being positive and a lot more momentum, energy and confidence within the Indian Real Estate Sector. These things started to happen in the minds of the consumer. Many cities have started to look back to their Pre-COVID level. Looking and the initial days of COVID situation it was looking like it will take 18 months at least to get normalized but before the festival season, there are positive news, particularly Residential sector have been started to come in the industry.

28

Shri Abhishek Lodha about Consumer’s perception in context to Covid COVID 19 pandemic has taught the Consumer that the home is lot more important. He said an investment made in purchasing Car or Equity, there will be depreciation by 30% or so after 3 years, but home is the only product which we can enjoy and also it will give financial return. So, it is time for the Real Estate Industry to take advantage of the shift in the mindset and continuously feed in the minds of the people and don’t fight the battle of yield and find the battle what is important in life and hopefully that should have a long term beneficial impact in sales for all of us going forward.

Shri Abhishek Lodha demand in luxury segment During the early days of lockdown, first 3 months the sales was largely in mid-income segment and affordable segment, around 55-60% sale. However, starting from July onwards, the sales in the 5 Crores plus segment also picked up meaningful. There is very much in focus towards ready product. There was no huge amount of sale of un- der construction in 5 crores plus segment but when you see ready product and we are lucky where we have 10-11 thousands crores OC ready, unsold inventory. So we have seen across the board sales is happening. In August, the cheapest home we sold was 27 lakhs, the most expensive we sold 40 crores. So sales are happening across the board and the motivation is the same. Positive factors in purchasing homes are coming in people’s mind. Shri Vipul Roongta trend of consumers and investing companies The Investors sentiments shows that they are coming back, everybody looks at house

29 as a reservoir for value rather than just a consumption item, but people are looking for buying own house. The de- mand for semi ready and ready units not seen in last seven to eight years, there is tremendous demand for this now. We have sold around 4,200 units in last 4 months’ time, whereas the comparative units in last year in the preceding four months, was 3,500 units. So, clearly if you are a good developer and pricing it right in terms of units’ price, there is no problem of sales.

Shri Abhishek Lodha price growth in- creases demand We have a golden moment now, the change in the assessment, what the houses in terms of importance to a per- son and his family and if we as a de- veloper can reflect on this that moving prices down is not only bad for us, it is bad for our consumers, lenders and ev- erybody. So, you need to start the price right at the start at the launch and make sure that the prices moving up in terms of inflation. Another important thing is moderate supply, keep supply a little less than demand if can, and surely we can grow prices. Shri Vipul Roongta source of funds for exiting and new projects The Private equity at project level dif- ficult, even if it comes it will come with

30 such high expectations that it may make sense only in very few cases. I feel that getting money from public market is definitely cheaper from getting money from the private equity. Look at a flavor if it means logistics, if commercial or affordable housing for all, there is huge market inside, explore doing that. It is significantly easier for lot of people who have kind of burnt their hands in private equity real estate play.

Shri Abhishek Lodha on Moderation of Supply Buy the land as you are building the product, customer pays you because there is short supply, otherwise he will wait till completion then ho would buy if it is an oversupply. You only make money if he pays you while it is under construction stage because cost of money in this country is so high and it is mispriced especially over the last 3-4 years because inflation is low and cost of borrowing is high. You can grow if you complete your projects and by ensuring your supply is in areas where there is a short supply. Use your own money and your known sources of sales & money and automatically supply will come down.

Shri Vipul Roongta managing High Cost Debt Product change should be executed, e.g. if a project having 5 towers and simultane- ously 5 towers sold 40%, you need to renegotiate and shift the people from the 3rd & 4th towers to the first three towers and say that let me convert one tower atleast to be ready, because only that much money is available. You can carve out retail areas, carve out commercial areas which are being sold. Multiple ways in which it can be done 31 and if you are stuck there is nothing but actually just maybe getting some money on an informal basis by selling some cheap flats.

Shri Abhishek Lodha foreseeing market in next couple of years Our behavior is important, are we good to our consumers, when it comes to pricing. So we need to keep pricing discipline and in order to keep pricing discipline, we have supply discipline. If we have supply disci- pline, we will be in a good place and if don’t have supplied discipline, the discipline is enforced by the lenders otherwise industry cannot be profitable and if its not profit- able, we can’t be in a great place.

Shri Anuj Puri summarized the session. He mentioned that the lot of work has been done and all of you have done good work and the positive results are being received such as stamp duty etc. next few weeks we will hear more positive responses. Few im- portant points are • This is not a FSI game, it used to be FSI game in MMR but it has moved away. • Pricing versus Demand – confidence of the home buyer only comes if they see that the asset is continuing to appreciate • Various ways of bringing in equity • Change in the product, many of you can hit the IPO markets to be able to raise the equity

32 • Supply side – unless we discipline on this, we will have problem and pressure would come in from the consumers on the pricing and conversely it goes down • Trends have changed, the views of the second homes and independent and perhaps bit more to have control on your own hands • Our future is in our hands

Shri Anuj Puri on business coming from global market to the city Traditionally to disrupt cities is very difficult and Mumbai as a city has been very- suc cessful, so traditionally to disrupt it would be very difficult, we are unable to cope up with the requirements of the consumers. One of the requirements as said is infra- structure, second requirement is health safety, which we have disrupted during this pandemic. Does it have counter effect over a period of time where corporates decide that this may not be really a safe city. US corporates are now looking to enter India may decide that Mumbai hasn’t really behaved that well and some of the other cities have behaved that well. And third is the qualified work force is available in that cities and that is what attracts most of the global destinations if you look at New York or Tokyo, Hongkong, London etc. the cosmopolitan culture, great quality infrastructure which does bring in health safety and security and ability to get very skilled workforce. Mum- bai has ability to provide all that is required, and we should not disrupt it. This pandem- ic has much disrupted it and we have to be able to mend the image of Mumbai, as we come out of this pandemic. Infrastructure is big tick mark, that attracts the Corporate World, the skilled labour to be able to come and migrate into the city.

Vote of Thanks given by Shri Boman Irani, President-Elect

33 SECRETARIAT'S DESK MEETINGS

E-Meeting with SBI Bank Continuing our dialogue with banks we had a meeting with, Mr. Shreekant CGM, SBI on 3rd July 2020 and made suggestions to revive real estate.

E-Meeting with Shri Bhushan Gagrani Meeting with Shri Sanjay E-meeting with Shri Bhushan Gagrani, Principal Secretary UDD along with other officers from UDD and town planning department on 17th August 2020. CRE- DAI-MCHI gave presentation on various issues / suggestion related to DCPR 2034.

Meeting with Shri. Sanjay Kumar, Chief Secretary GOM Meeting called by Shri Sanjay Kumar Chief Secretary, Government of Maharashtra on 21 Au- gust 2020 at 12.30 pm with regard to suggestion on IT/ITeS policy the meeting was attended by Deepak Goradia, Dhaval Ajmera, Sanjay Phope

Meeting Shri Ajit Pawar Deputy Chief Minister On 26 August 2020 CREDAI-MCHI had a meeting Shri Ajit Pawar, Deputy Chief Minister along with Shri Jitendra Awhad, Housing Minister Shri. Jayant Patil, Minister for Water Re- sources with regard to the societies that cannot be developed due to various reasons and also requested the Minister to make amendments in the Societies Act of 79A. The meet- ing was attended by Nayan Shah, Bandish Ajmera, Deepak Goradia, Boman Irani, Shahid Balwa, Harish Gupta. This meeting was then followed by another meetings held on 15th September 2020 with regard to Development of projects around Prisons

34 REPRESENTATION

STATE GOVERNMENT & AUTHORITIES

Sr. No. Letter addressed to Subject SR. NO. LETTER ADDRESSED TO SUBJECT

1 Shri Eknath Shinde Ji, Granting relief on payment of instalment Hon’ble Minister of Urban facility to MCGM and UD due to Covid- Development Department, 19. Government of Maharashtra 2 Shri Praveen Pardeshi Granting relief on payment of instalment Additional Chief Secretary, facility to MCGM and UD due to Covid- Urban Development 19. Department (I), Mantralaya, Mumbai. 3 Shri Rajesh J Narvekar (I.A.S.) Revive Real Estate Revive Economy, Collector Request to start the approval of real estate Collector Office, Court Naka, project with the time lines of 15 days and monthly meeting for update. 4 Shri Lokesh Chandra (I.A.S.) Revive Real Estate Revive Economy, Vice Chairman & M D Request to start the approval of real estate CIDCO project with the time lines of 15 days and monthly meeting for update. 5 Shri Satish Mahadeo Revive Real Estate Revive Economy, Lokhande (I.A.S.) Request to start the approval of real estate Chief Executive Officer project with the time lines of 15 days and Slum Rehabilitation Authority monthly meeting for update. 6 Shri Milind Mhaiskar (I.A.S.) Revive Real Estate Revive Economy, Vice President & C.E.O. Request to start the approval of real estate MHADA project with the time lines of 15 days and monthly meeting for update. 7 R A Rajeev Revive Real Estate Revive Economy, Metropolitan Commissioner Request to start the approval of real estate MMRDA project with the time lines of 15 days and monthly meeting for update. 8 Shri Vijay Balkrishna Revive Real Estate Revive Economy, Waghmare (I.A.S.) Request to start the approval of real estate Joint Managing Director project with the time lines of 15 days and MSRDC monthly meeting for update. 9 Shri Rajeev D Nivatkar (I.A.S.) Revive Real Estate Revive Economy, Collector – Mumbai City Request to start the approval of real estate project with the time lines of 15 days and monthly meeting for update. 10 Shri Milind Nilkanth Borikar Revive Real Estate Revive Economy, (I.A.S.) Request to start the approval of real estate Collector project with the time lines of 15 days and Mumbai Suburban District monthly meeting for update. 11 Shri Rajesh J Narvekar (I.A.S.) Revive Real Estate Revive Economy, Collector Request to start the approval of real estate project with the time lines of 15 days and monthly meeting for update. 12 Shri Kailas Baburao Shinde Revive Real Estate Revive Economy, (I.A.S.) Request to start the approval of real estate Collector project with the time lines of 15 days and Office of District Collector monthly meeting for update.

35 SR. NO. LETTER ADDRESSED TO SUBJECT

13 Smt Nidhi Choudhari (I.A.S.) Revive Real Estate Revive Economy, Collector Request to start the approval of real estate Office of District Collector project with the time lines of 15 days and monthly meeting for update. 14 Shri P Anbalagan (I.A.S.) Granting relief on payment to MCGM due Chief Excecutive Officer to Covid-19. MIDC, Udyog Sarathi 15 Dr. P. Anbalagan (I.A.S.) Revive Real Estate Revive Economy, Chief Executive Officer, Request to start the approval of real estate MIDC, Udyog Sarathi, project with the time lines of 15 days and monthly meeting for update. 16 Shri Subhash Desai Ji. MIDC Policy to Grant Access Permission Hon’ble Minister of Industries, for Developments deriving Access from Government of Maharashtra, Roads Constructed and maintained by MIDC. 17 Shri R L Mopalwar (I.A.S.) Granting relief on payment to MCGM due Chief Excecutive Officer to Covid-19. MIDC, Udyog Sarathi 18 Shri R A Rajeev (I.A.S.) Granting relief on payment to MCGM due Metropolitan Commissioner to Covid-19. MMRDA 19 Dr P Anbalagan. MIDC Policy to Grant Access Permission Chief Executive Officer, for Developments deriving Access from MIDC, Udyog Sarathi Roads Constructed and maintained by MIDC. 20 Shri B Venugopal Reddy MIDC Policy to Grant Access Permission (I.A.S.). for Developments deriving Access from Principal Secretary Roads Constructed and maintained by Department of Industries, MIDC. 21 Shri Praveen Pardeshi (I.A.S.) Finalization of pending proposed Additional Chief Secretary modification to DCPR 2034 and issue Urban Development clarifications sought by MCGM from U. D. Department department, Government of Maharashtra. 22 Shri Sanjay Kumar (I.A.S.) Request for a meeting to discuss our Chief Secretary suggestion on Revival of RealEstate Government of Maharashtra 23 Shri Ajoy Mehta (I.A.S. Retd) Request for a meeting to discuss our Chief Advisor suggestion on Revival of Real Estate Chief Minister Office 24 Shri S V R Srinivas (I.A.S.) Request for a meeting to discuss our Principal Secretary (Additional suggestion on Revival of Real Estate Charge) Housing Department 25 Smt Manisha Mhaiskar (I.A.S.) Congratulations for taking over as New Principal Secretary Principal Secretary, Environment Environment Department Department and Request for appointment 26 Dr. P. Anbalagan, To simplify guidelines / regulation of Chief Executive Officer, policies applicable for Development of MIDC, Udyog Sarathi, Integrated Industrial Area and Logistic park in MMR region of Maharashtra State.

36 SR. NO. LETTER ADDRESSED TO SUBJECT

27 Shri B Venugopal Reddy To simplify guidelines / regulation of Principal Secretary (Industries) policies applicable for Development of Department of Industries, Integrated Industrial Area and Logistic Energy and Labour park in MMR region of Maharashtra State. 28 Shri. Subhash Desai Ji, To simplify guidelines / regulation of The Hon’ble Minister of policies applicable for Development of Industries, Integrated Industrial Area and Logistic Government of Maharashtra, park in MMR region of Maharashtra State. 29 Shri. Eknath Shinde Construction of PAP Houses on Private Hon’ble Minister Land by Private Developers for Urban Development rehabilitation of slum dwellers affected by Department Projects of Vital Public importance. 30 Shri Uddhav Thackeray CREDAI-MCHI Letter of Appreciation for Hon’ble Chief Minister Shri Anil Diggiker (I.A.S) for Exceptional Government of Maharashtra service for the Environment Department. 31 Shri Sanjay Kumar (I.A.S.) CREDAI-MCHI Letter of Appreciation for Chief Secretary Shri Anil Diggiker (I.A.S) for Exceptional Government of Maharashtra service for the Environment Department. 32 Shri Aaditya Thackeray CREDAI-MCHI Letter of Appreciation for Hon’ble Minister of Shri Anil Diggiker (I.A.S) for Exceptional Environment service for the Environment Department. Government of Maharashtra 33 Shri Ajit Pawar ji CREDAI-MCHI Letter of Appreciation for Hon’ble Deputy Chief Minister Shri Anil Diggiker (I.A.S) for Exceptional Government of Maharashtra service for the Environment Department. 34 Shri Balasaheb Thorat Request to direct National Informatics Hon’ble Minister of Revenue Centre to expedite the availability of Government of Maharashtra software for online E-registration of documents from the office of the Developers 35 Dr. S. P. Kulshrestha Request to direct National Informatics Scientist-G Centre to expedite the availability of Software Development – software for online E-registration of Pune documents from the office of the National Informatics Centre Developers 36 Shri Manu Kumar Srivastava Relevant provision / amendment to the (I.A.S.) Maharashtra (Urban Areas) Protection and Additional Chief Secretary Preservation of Trees Act 2017 and/or any Forest (Revenue and Forest other relevant law, for temporary Department afforestation 37 Shri Ashok Chavan, 1) Applicability of Construction Rates for Hon’ble Minister of PWD, Developed Areas under Special Planning Govt. of Maharashtra Authority (SPA) in Mumbai Metropolitan Area (MMR).

2) Increase in Construction Rates in the Annual Statement of Rates (ASR). 38 Shri Omprakash Deshmukh 1) Applicability of Construction Rates for (I.A.S.) Developed Areas under Special Planning Inspector General of Authority (SPA) in Mumbai Metropolitan Registration and Controller of Area (MMR). Stamp Govt. of Maharashtra 2) Increase in Construction Rates in the Annual Statement of Rates (ASR).

37 SR. NO. LETTER ADDRESSED TO SUBJECT

39 Shri. Prabhat S. Rahangdale, Revision of schedule of fees in respect of Director, Maharashtra Fire hiring of fire Engines & Ambulance, Services scrutiny fee of High & Low-rise buildings Mumbai. etc. for the period 1st April, 2020 to 31st March 2021. 40 Shri. Balasahab Thorat Applicability of Construction Rates for Hon’ble Minister of Revenue, Developed Areas under Special Planning Govt. of Maharashtra, Authority (SPA) in Mumbai Metropolitan Area (MMR). & Increase in Construction Rates in the Annual Statement of Rates (ASR). 41 Shri Balasaheb Thorat Suggestion for Valuation of open land in Hon’ble Minister for Revenue respect of land leased by the Government Government of Maharashtra of Maharashtra, Collector, MCGM, MHADA and SRA. Dr. Nitin Kareer (I.A.S.) Additional Chief Secretary Revenue (Revenue Registration and Stamp)

Shri Omprakash Deshmukh (I.A.S.) Inspector General of Registration and Controller of Stamp 42 Shri R.A. Rajeev (I.A.S.) REMINDER: Granting relief on various Metropolitan Commissioner, payments to TMC due to Covid-19. MMRDA, 43 Shri Bhushan Gagrani (I.A.S.) Granting relief on various payments to Principal Secretary, MMRDA due to Covid-19. Urban Development Department (I) 44 Shri Bhushan Gagrani (I.A.S.) Granting relief on various payments to Principal Secretary, TMC due to Covid-19. Urban Development Department (I) 45 Shri Bhushan Gagrani (I.A.S.) Granting relief on payments to MCGM due Principal Secretary, to Covid-19. Urban Development Department (I) 46 Shri Milind Mhaiskar (I.A.S.) Granting relief on payment to MHADA Vice President & CEO due to Covid-19. MHADA 47 Shri Satish Lokhande (I.A.S.) Granting relief on payment to SRA due to Chief Executive Officer Covid-19. Slum Rehabilitation Authority 48 Dr. Jitendra Awhad Handover of surplus area in respect of Hon’ble Minister for Housing redevelopment under DC Regulation 33(7) Government of Maharashtra Mantralaya, Mumbai.

38 SR. NO. LETTER ADDRESSED TO SUBJECT

49 Shri. Subhash Desai Ji, To simplify guidelines / regulation of The Hon’ble Minister of policies applicable for Development of Industries, Integrated Industrial Area and Logistic Government of Maharashtra, park in MMR region of Maharashtra State. 50 Shri R.A. Rajeev (I.A.S.) Charging interest as per SBI Lending rate Metropolitan Commissioner, to all lease holders as per Supreme Court MMRDA of India order dated 10.07.2020. 51 Shri Bhushan Gagrani (I.A.S.) Congratulations of being appointed as Principal Secretary, Principal Secretary, UDD(I) Urban Development Department (I) 52 एकनाथ शदें साहेब डी.सी.पी.आर 17(1) नुसार टी डआर/एफ.एस.आय.वकासातील आदरणीय मं ी, ज मनीबाबत. नगर वकास वभाग, महारा सरकार

53 एकनाथ शदें साहेब अज‡ 14(A)DP 1991 नुसार मंजूर लेआऊट संबं’धत. आदरणीय मं ी, नगर वकास वभाग, महारा सरकार

54 एकनाथ शदें साहेब Mangrows गाड‡न/ ज मनीचे टीडीआर संबं’धत. आदरणीय मं ी, नगर वकास वभाग, महारा सरकार

55 एकनाथ शदें साहेब डीसीपीआर 33(19) Ÿा बरोबरीने 33(13) नूसार परवानगी आदरणीय मं ी, असले¢ा एफएसआय Ÿा balance potential ला परवानगी नगर वकास वभाग, देणे. महारा सरकार

56 Shri Bhushan Gagrani (I.A.S.) Reconsideration of parking regulation on Principal Secretary, Affordable Housing Projects / Townships. Urban Development Department (I) Government of Maharashtra 57 Shri. Uddhav Balasaheb Request for Immediate Meeting with Thackeray Ji, regard to support from the Govt. of Hon’ble Chief Minister, Maharashtra for Revving the Real Estate Government of Maharashtra 58 Shri Ajit dada Pawar Directive under Section 79(A) of Hon’ble Deputy Chief Minister Maharashtra Co-operative Societies Act Government of Maharashtra 1960 bearing No.SGY/2018/PK 85/14-S dated 4th July 2019 issued by the Co- Dr Jitendra Ahwad ji operation, Marketing and Textiles Hon’ble Minister for Housing Department Government of Maharashtra

Shri Shamrao Patil (Balasaheb) Hon’ble Minister for Co- operation Government of Maharashtra

39 SR. NO. LETTER ADDRESSED TO SUBJECT

59 Shri Ajit dada Pawar Experts Panel and a Cabinet sub- Hon’ble Deputy Chief Minister committee appointed by Hon’ble Chief Hon’ble Finance Minister Minister to suggest steps to tackle the Government of Maharashtra financial crisis arising out of the coronavirus pandemic 60 Shri Uddhav Thackeray Request for Clarification in announcement Hon’ble Chief Minister of Reduction in Stamp Duty Government of Maharashtra

Shri Balasaheb Thorat Hon’ble Minister for Revenue Government of Maharashtra 61 Shri Sanjay Kumar (IAS) Suggestions for Survival & Sustenance of Chief Secretary the Real Estate Industry in Mumbai Government of Maharashtra 62 Shri Sanjay Kumar (IAS) To give permission to the balance potential Chief Secretary of FSI as per DCPR 33(19) with 33(13) Government of Maharashtra 63 Shri Balasaheb Thoratji. Loading of additional F.S.I. on Class – II Hon’ble Minister for Revenue Land at Tal & Dist Thane. Government of Maharashtra 64 Dr. Nitin Kareer (I.A.S.) Loading of additional F.S.I. on Class – II Additional Chief Secretary Land at Tal & Dist Thane. Department of Revenue 65 Dr. Jitendra Awhad ji Urgent Amendment to Maharashtra Rent Hon’ble Minister for Housing Control Act 1999 Government of Maharashtra 66 Dr. Anbalagan P (I.A.S.) To simplify guidelines / regulation of CEO policies applicable for Development of MIDC Integrated Industrial Area and Logistic park in MMR region of Maharashtra State. 67 Shri Ajit Pawar Grant of immediate relief relating to GST Hon’ble Deputy Chief Minister effect on Redevelopment Projects. & Minister of Finance Government of Maharashtra 68 Shri Vinod P. Chithore 1) Charging of staircase, lift, lift lobby Chief Engineer (Development premium under DCPR 31(1)(iv). Plan) 2) Reduction in premium for commercial Municipal Corporation of project Greater Mumbai 3) Charging of premium for Staircase under Regulation 48(5)(A) of DCPR 2034 4) Exemption under Regulation 31 from FSI in respect of lobbies as specified for Hotels and Commercial Establishment

40 SR. NO. LETTER ADDRESSED TO SUBJECT

69 Hon’ble Shri Balasaheb Thorat express our gratitude to the Revenue Minister for Revenue Department, Government of Maharashtra Government of Maharashtra for accepting our demand and reducing the Stamp Duty. 70 Dr. Nitin Kareer (I.A.S.) Clarification with regard to 63-1A of the Additional Chief Secretary Maharashtra Tenancy and Agricultural (Revenue) Lands Act, 1948. Registration and Stamp Duty, Revenue & Forest Department 71 Shri Balasaheb Thorat ji Compliments from CREDAI-MCHI for Hon’ble Minister for Revenue announcement of Stamp Duty Reduction Government of Maharashtra 72 Shri Balasaheb Thorat Request to direct National Informatics Hon’ble Minister for Revenue Centre to expedite the availability of Government of Maharashtra software for online E-Registration of documents from the office of the Developers 73 Shri A.B.P. Pandey (I.A.S.) Extension of Time limit for payment of Secretary (Finance) taxes (including TDS, TCS, etc) to 31st Department of Revenue December 2020 and the due date for filing of Income tax Return for AY 2020-21 to 31st March 2021. 74 Smt. Nirmala Sitharaman Extension of Time limit for payment of Hon’ble Finance Minister taxes (including TDS, TCS, etc) to 31st Ministry of Finance December 2020 and the due date for filing of Income tax Return for AY 2020-21 to 31st March 2021. 75 Smt. Manisha Patankar Request to grant EC on the basis of full Mhaiskar (IAS) potential/Conceptual plan Principal Secretary Environment Department 76 Shri Balasaheb Thorat Amalgamation, Merger, Demerger or Hon’ble Minister for Revenue Reconstruction of Companies, or court Government of Maharashtra consent terms maximum Stamp Duty payable shall be Rs. 10,00,000/- for all Companies. 77 Hon’ble Shri Balasaheb Thorat Representation regarding exemption from Minister for Revenue stamp duty on conversion/succession of a Government of Maharashtra Partnership Firm (or a Limited Liability Partnership firm) into a Company. 78 Shri Bhushan Gagrani (I.A.S.) Request for Amendment in DCPR 2034 Principal Secretary Reg 17(1)(20)(b) Urban Development Department (I) 79 Shri Bhushan Gagrani (I.A.S.) Request for Amendment in DCPR 2034 Principal Secretary Reg 14(A)(iii) Urban Development Department (I) 80 Shri Bhushan Gagrani (I.A.S.) Request to grant 3.0 times of TDR for Principal Secretary utilities like water pipelines and Nallas Urban Development Department (I)

41 SR. NO. LETTER ADDRESSED TO SUBJECT

81 Shri Bhushan Gagrani (I.A.S.) CREDAI-MCHI suggestions and also few Principal Secretary clarifications with regard to Urban Development DCPR 2034 Department (I) 82 Shri Uddhav Balasaheb CREDAI-MCHI requests for a Logistical Thackeray ji, Support to Facilitate Return of Hon’ble Chief Minister Construction Workers to Revive Mumbai Government of Maharashtra MMR Realty 83 Shri Piyush Goyal CREDAI-MCHI requests for a Logistical Hon’ble Minister of Railway Support to Facilitate Return of Rail Bhawan, New Delhi Construction Workers to Revive Mumbai MMR Realty 84 Shri Satish Lokhande (I.A.S.) Request to modify SRA’s Circular No. 186 Chief Executive Officer, dated 3rd April, 2018, pertaining to facility Slum Rehabilitation Authority of deferment of Payments of premium for Fungible Compensatory FSI. 85 Shri Vasant Prabhu Addition of one more name in the Secretary Conciliation Forum of MahaRERA MahaRERA 86 Shri Gautam Chatterjee (I.A.S. Request to issue Directions under the Retd.) provisions of Section 32 and 34 (f) & (g) of The Hon’ble Chairperson the Real Estate (Regulation and Maharashtra Real Estate Development) Act 2016 and Rules and Regulatory Authority Regulations made there under to facilitate the completion of a ongoing real estate projects and also for a healthy, transparent, efficient and competitive real estate sector during and post COVID 19 pandemic. 87 Shri Ajit Pawar Development of projects around prisons Hon’ble Deputy Chief Minister Hon’ble Finance Minister 88 Dr Nitin Kareer (I.A.S.) Integrated township policy dated 8th Assistant Chief Secretary March 2019, clause number 13.3. Revenue Department. Reduction in stamp duty. 89 Shri Uddhav ji Balasaheb Request to issue Directions under the Thackeray provisions of Section 32 and 34 (f) & (g) of Hon’ble Chief Minister the Real Estate (Regulation and Government of Maharashtra Development) Act 2016 and Rules and Regulations made there under to facilitate the completion of a ongoing real estate projects and also for a healthy, transparent, efficient and competitive real estate sector during and post COVID 19 pandemic.

42 SR. NO. LETTER ADDRESSED TO SUBJECT

90 Shri Ajit Pawar Request for reduction in Cost of Hon’ble Deputy Chief Minister Approvals, Development charges and Hon’ble Finance Minister Ready Reckoner Rate 91 Shri Balasaheb Thorat Request for reduction in Ready Reckoner Hon’ble Minister of Finance Rate Government of Maharashtra 92 1) Dr. Jitendra Awhad ji Ease of Doing Business Hon’ble Minister for Housing Government of Maharashtra

2) Shri. Anil Diggikar (I.A.S.) Vice President & CEO MHADA 93 Shri Uddhav ji Thackeray Request for reduction in Cost of Hon’ble Chief Minister Approvals, Development charges and Government of Maharashtra Ready Reckoner Rate

URBAN LOCAL BODIES

SR. NO. LETTER ADDRESSED TO SUBJECT

1 Shri Iqbal Singh Chahal (I.A.S.) Granting relief on payment of instalment Municipal Commissioner facility to MCGM and UD due to Covid- Municipal Corporation of 19. Greater Mumbai

2 Shri Iqbal Singh Chahal (I.A.S.) Revive Real Estate Revive Economy, Hon’ble Municipal Request to start the approval of real estate Commissioner project with the time lines of 15 days and MCGM monthly meeting for update 3 Dr. Vipin Sharma (I.A.S.) Revive Real Estate Revive Economy, Hon’ble Municipal Request to start the approval of real estate Commissioner project with the time lines of 15 days and Thane Municipal Corporation monthly meeting for up9date 4 Shri Iqbal S Chahal (I.A.S.) Request for Assistance to Save Mumbai Hon. Municipal Commissioner Real Estate Industry. Municipal Corporation of Greater Mumbai (MCGM) 5 Shri Iqbal Singh Chahal (I.A.S.) Revive Real Estate Revive Economy, Municipal Commissioner Request to start the approval of real estate Municipal Corporation of project with the time lines of 15 days and Greater Mumbai monthly meeting for update. 6 Dr. Vipin Sharma (I.A.S.) Revive Real Estate Revive Economy, Municipal Commissioner Request to start the approval of real estate Thane Municipal Corporation project with the time lines of 15 days and monthly meeting for update.

43 SR. NO. LETTER ADDRESSED TO SUBJECT

7 Dr. Mantada Raja Dayanidhi Revive Real Estate Revive Economy, (I.A.S.) Request to start the approval of real estate Municipal Commissioner project with the time lines of 15 days and Ulhasnagar Municipal monthly meeting for update. Corporation. 8 Dr. Vijay Suryawanshi (I.A.S.) Revive Real Estate Revive Economy, Municipal Commissioner Request to start the approval of real estate Kalyan-Dombivali Municipal project with the time lines of 15 days and Cor monthly meeting for update. 9 Shri Chandrakant Krishnarao Revive Real Estate Revive Economy, Dange (I.A.S.) Request to start the approval of real estate Municipal Commissioner project with the time lines of 15 days and Mira Bhayander monthly meeting for update. Muncp.Corpn. 10 Dr. Pankaj Ashiya (I.A.S.) Revive Real Estate Revive Economy, Municipal Commissioner Request to start the approval of real estate Bhiwandi-Nizampur Municipal project with the time lines of 15 days and Corporation monthly meeting for update. 11 Shri Abhijit S Bangar (I.A.S.) Revive Real Estate Revive Economy, Municipal Commissioner Request to start the approval of real estate Navi-Mumbai Municipal project with the time lines of 15 days and Corporation. monthly meeting for update. 12 Shri Gangatharan D (I.A.S.) Revive Real Estate Revive Economy, Municipal Commissioner Request to start the approval of real estate Vasai Virar Municipal project with the time lines of 15 days and Corporation. monthly meeting for update.

13 Shri Iqbal S Chahal (I.A.S.) Granting relief on payment to MCGM due Hon. Municipal Commissioner to Covid-19. Municipal Corporation of Greater Mumbai (MCGM) 14 Dr Vipin Sharma Chahal (I.A.S.) Granting relief on payment to MCGM due Hon. Municipal Commissioner to Covid-19. Thane Municipal Corporation 15 Dr. Vipin Sharma (I.A.S.) REMINDER: Granting relief on various Municipal Commissioner, payments to TMC due to Covid-19. Thane Municipal Corporation, 16 Shri Iqbal S C hahal (I.A.S.) Granting relief on payments to MCGM due Hon’ble Municipal to Covid-19. Commissioner, Municipal Corporation of Greater Mumbai 17 Shri Iqbal Singh Chahal (I.A.S.) 1) Charging of staircase, lift, lift lobby Municipal Commissioner, premium under DCPR 31(1)(iv). Municipal Corporation of 2) Reduction in premium for commercial Greater Mumbai project 3) Charging of premium for Staircase under Regulation 48(5)(A) of DCPR 2034 18 Shri Iqbal Singh Chahal (I.A.S.) Exemption under Regulation 31 from FSI Municipal Commissioner, in respect of lobbies as specified for Municipal Corporation of Hotels and Commercial Establishment Greater Mumbai

44 SR. NO. LETTER ADDRESSED TO SUBJECT

19 Shri Iqbal Singh Chahal (I.A.S.) Request not to Levy Property Taxes/LUC Hon’ble Municipal Taxes for certain commercial categories, Commissioner due to Corona Pandemic Lock down Municipal Corporation of period starting from 1st April 2020 till eth Greater Mumbai actual Lock down end for these users. 20 Shri Iqbal Singh Chahal (I.A.S.) Suggestion for modification in Reg 33(7) Municipal Commissioner DCPR 2034 for Municipal tenanted Plots Municipal Corporation of and to promote cluster redevelopment Greater Mumbai under Reg 33(9 of DCPR 2034

CENTRAL GOVERNMENT

SR. NO. LETTER ADDRESSED TO SUBJECT

1 Smt. Nirmala Sitharaman Request for an appointment and CREDAI- Hon. Finance Minister MCHI Suggestions for revival of the real Ministry of Finance estate industry 2 Shri Shaktikanta Das (I.A.S.) Request for appointment to discuss our Governor, suggestions on revival and survival of the Reserve Bank of India real estate industry. 3 Shri. Hardeep Singh Puri ji Representatives from CREDAI-MCHI as Hon’ble Minister of State members of Permanent Working Group Ministry of Housing & Urban for issues concerning grant of building Affairs (I/C) height NOCs from Airport Authority of India 4 Shri Pradeep Singh Kharola Reduction of permissible building heights (I.A.S.) allowed as per Aeronautical study reports Hon’ble Secretary due to the implementation of Guidelines Ministry of Civil Aviation on Maximum Allowable Penetration of Obstacle Limitation Surfaces in Aeronautical Study reports (OLS Guidelines) by the Appellate Committee 5 Smt Nirmala Sitharaman Grant of immediate relief relating to GST Hon’ble Finance Minister effect on Redevelopment Projects. Government of India 6 Shri Pradeep Singh Kharola Guidelines on maximum allowable (I.A.S.) penetration of Obstacle Limitation Hon’ble Secretary Surfaces in Aeronautical Study Reports Ministry of Civil Aviation 7 Expert Committee to Assist Submissions of representations behalf of Government for Assessment CREDAI - MCHI of Relief to Bank Borrowers Chairman’s office State Bank of India

45 SR. NO. LETTER ADDRESSED TO SUBJECT

8 1) Shri. Pradeep Singh Guidelines on Maximum Allowable Kharola (I.A.S.) Penetration of Obstacle Limitation Hon’ble Secretary Surfaces in Aeronautical Study Reports Minister of Civil Aviation

2) Chairman Airport Authority of India New Delhi

3) Member (ANS) Airport Authority of India, New Delhi 9 Shri Shaktikanta Das (I.A.S. Clarifications requested in relation to One Retd) Time Restructuring Scheme (OTR) dated Governor August 6 2020. Reserve Bank of India 10 Shri Mahesh Kumar Jain Clarifications requested in relation to One Deputy Governor Time Restructuring Scheme (OTR) dated Reserve Bank of India August 6 2020. 11 Shri Swaminathan Clarifications requested in relation to One Gurumurthy Time Restructuring Scheme (OTR) dated Non Official Director August 6 2020. Central Board of RBI Reserve Bank of India 12 Shri Satish Marathe Clarifications requested in relation to One Director Time Restructuring Scheme (OTR) dated Central Board of RBI August 6 2020. Reserve Bank of India 13 Shri. K V Kamath Representation of Real Estate Sector and RBI SPL Committee clarifications sought in response to the RBI Reserve Bank of India circular no. RBI/2020-21/16 DOR. No. BP.BC/3/21.04.048/2020-21 dated August 6, 2020 in respect of Resolution Framework for Covid-19 related stress. (Referred as OTR) 14 Shri Rajnish Kumar Sub: Funding proposal | Ready OC Chairman, received unsold residential flats State Bank of India Ref: Liquidity Support Scheme for ResidentialReal Estate (LSRE)

46 CREDAI-MCHI E-BIZNET

1ST EDITION OF CREDAI-MCHI E-BIZNET

The 1st edition of CREDAI MCHI E-BIZNET – where business is just a click away, was a unique 3 Day Building Material Manufacturers Meet to interact with ancillary industries across the nation.

Powered by Asian Paints, the other partners included A B See Brand Advisory, Buildon Plasters PVT, LTD, DECEUNINCK Profiles India, Dorset Group, Godavari Paints, Kone Elevators, Lazot Technologies, Maini Scaffold Systems, NITCO Ltd, RR Parkon & Somany Ceramics Limited with Creative Partner as Markenzo Worldwide.

In the presence of about 311 Procurement teams across nation, the 1st Day of the event was inaugurated by CREDAI-MCHI President Mr Nayan A Shah, Mr. Deepak Goradia- CREDAI-MCHI President Elect, Mr. Rajeev Jain CREDAI MCHI Biznet Conveyer, Mr Nimish Ajmera, Procurement Conveyer, Mr Akshay Agarwal & Mr Nilesh Puranik – Procurement Co-Convener and the Vote of Thanks was delivered by Mr. Tikam Jain, President Lodha Group.

The Second day was inaugurated by Ms. Punam Ingle Senior Manager- Godrej Properties LTD

47 and Ms. Seema Jobanputra, Director Procurement - Ashar Group. The vote of thanks was given by Mr. Nilesh Puranik, Owner Puranik Builders, Co-Convener Procurement Wing

The 3rd Day of the event was organised by Mr. D R Jalan, Vice President HOD Procurement Sunteck Realty, Mr. Neerav Parmar, Senior Vice President Contracts and Procurement- Shapoorji Pallonji Real Estate and Mr. TD Joseph, Business Head CREDAI-MCHI. The vote of thanks was delivered by Mr. Nimish Ajmera Director- Ajmera Realty and Convener CREDAI MCHI Procurement wing.

48 2ND EDITION OF CREDAI-MCHI E-BIZNET

Over 500+ companies and individuals participated in CREDAI MCHI’s E-Biznet; Held to catalyse growth in Indian Real Estate In a bid to provide impetus to Real Estate development in the country, CREDAI MCHI conducted E-Biznet, an exclusive networking program to re-initiate and strengthen corporate relationships between real estate developers and its allied industries. With the sector still struggling amid Covid - 19 and experiencing a slow pace of recovery, the second edition of the meet focused on the theme of catalyzing industrial and economic growth, thereby supporting and facilitating real estate businesses and boosting sales as a consequence.

With over 500+ companies and organizations attending the virtual dialogue, E-Biznet witnessed a number of industry firsts and initiatives. Given the dire financial situation of developers owing to minimal demand and limited cash flows, presentations made by leading allied industry players included options for developers to flexibly structure payment mechanisms in the form of deferrals whilst providing avenues of barter as a means to complete transactions and fulfil construction obligations.

49 The 2-day session held by CREDAI MCHI, a leading real estate body with over 1500+ developers in the MMR, strengthens its commitment towards providing a more conducive business environment for Real Estate stakeholders during the pandemic.

Addressing the event, CREDAI MCHI President, Mr. Nayan Shah, shared his views “CREDAI MCHI has consistently been at the forefront of innovative and pioneering initiatives and E-Biznet is yet another platform which has successfully provided over 500+ organizations with a definitive way forward in times of uncertainty. CREDAI MCHI takes great pride in supporting the Indian Real Estate Eco-system and ensuring that all our industrial stakeholders navigate through this pandemic.”

Shri Rajeev Jain, convenor, CREDAI MCHI Biznet, said “We are extremely elated and proud to conduct the second edition of E-Biznet. By bringing real estate stakeholders on one platform, CREDAI MCHI has re-initiated and enabled B2B conversations to provide a significant stimulus to Indian Real Estate. Building on the success of the first two editions of E-Biznet, we hope to conduct many more such networking meets and opportunities and helping the real estate to arrest the slowdown brought about by Covid – 19.”

50 MOBILE DISPENSARY SEVA VAN

CREDAI-MCHI, BJS (BHARTIYA JAIN SANGHATANA), DESH APNAYEN

Bhartiya Jain Sanghatana, Desh Apnayen & CREDAI-MCHI have collectively in associ- ation with all MMR Corporations in Mumbai, Thane, Kalyan Dombivli, Mira-Bhayender, and Navi Mumbai and the support of Government of Maharashtra had taken an initia- tive to start Mobile Dispensary Seva Vans in Mumbai and MMR region.

The project was launched in three phases. The first phase of initiative was kick started

53 on 28th April 2020 with just 5 mobile seva vans, soon it grew to 60 MDSV to make sure every resident is checked thoroughly. The second phase of this initiative called ‘Mission Zero’ started on 22nd June 2020 with 50 MDSV to cover various hotspots of Mumbai to conduct examination of patients and to do swab testing for suspected pa- tients and quarantine them in the MCGM quarantine centres. After successful imple- mentation of Mumbai’s Mission Zero, Thane, Navi Mumbai, Kalyan – Dombivli started the 3rd Phase which comprised, Prachar Rath and Antigen tests of the residents in the respective cities. This initiative ensures increased testing with little hassle to residents. The number of current testing capacity is over 3,000 per day and this will further aug- ment our capacity and reach.

54 CREDAI-MCHI WOMEN’S WING WEBINAR

CREDAI -MCHI Women’s Wing conducted a webinar on September 08, 2020 o n Rediscovering Millets and various health benefits with Recipes conducted by Ms. Manisha Rathore ,CEO& Founder, Pop Up Technologies.

Ms Richa Shah-Hon Chairperson welcomed the speaker and all participants in the webi- nar series .Ms Manish Rathore is a naturopathist who will be talking and sharing with us something that we have all forgotten from a diet, which is millets . Millets are a kind of grain which we can substitute today for rice and wheat which we have traditionally been eating. Ms Falguni Shah -Hon. Vice Chairperson gave a brief introduction on the speaker Ms Manisha Rathore and welcomed her on behalf of CREDAI MCHI Women’s Wing.Ms Manisha Rathore shared a few words with the members and participants. It’s won- derful to be here like-minded peo- ple who are actually really and equally passionate about food and the importance of food . Actual- ly, what is happening these days is that in every one in three peo- ple, they are suffering from some lifestyle disorder, whether it’s di- abetes , hypertension or acidity and the sad thing is that you have begun to consider it a part of life. Ms Manisha explained the benefits of millets through her presentation and started demonstrating the rec- ipes which all the participants liked and appreciated . List of Recipes will be shared during Webinar: 1) thin crust pizza 2) foxtail millet pulao 3) fasting dosa 4) jowar coconut dosa 5) handavo

Vote of thanks given by Ms. Jesal Shah-Hon.Secretary 55 #ReviveRealEstateReviveEconomy

On 30th May 2020, The MMR Action Committee of developer’s body CREDAI-MCHI filed for an online petition to the Prime Minister pleading for efficient steps to revive the real estate sector which can help 250 other industries and potentially provide around five crore jobs directly as well as indirectly. This petition is called #ReviveRealEstate #ReviveEconomy and has already generated over 38,000 online signatures from across the country. The petition talks about how the Real Estate Industry contributes about 8% to the GDP and hence needs immediate attention. This is significant because of the RBI forecast of negative economic growth for the country.

While the 20 lakh crore package announced by the government offers benefits to the crisis-ridden real estate industry, it seems very minuscule keeping the massive impact of the current situation in mind. The petition also called for the reduction of home loan interest to 5%, passing of the RBI repo rate cut benefit to the end consumer, one-time restructuring of developers’ loans, an extension of project completion timeline by RERA by a year, apart from GST reliefs. “We request for urgent intervention at the highest level in the government so that the industry is revived to rejuvenate the economy as a whole,” said Ajay Ashar, Spokesperson of CREDAI Action Committee. The revival of real estate will also kick-start many other industries such as cement, steel, electric, 51 paint, plumbing and elevators and all these will help safeguard jobs. The real estate industry always stood up and supported the government, leading from the front. Even in this crisis of COVID-19, real estate has contributed to PM Relief Fund, provided accommodation for doctors and paramedic and also provided space for creating temporary hospitals.

The petition sought extension of the GST Input Tax Credit for new projects as well, increasing the SWAHIM fund to Rs. One lakh crore, scrapping of the market-value basis for GST, speedy clearance of Indian Navy and aviation NOCs for want of which over 25,000 buyers are stuck.

52 CREDAI-MCHI NEWS

56 CREDAI-MCHI NEWS

57 THANK YOU PARTNERS

THE 1ST EDITION OF CREDAI MCHI E-BIZNET

THE 2ND EDITION OF CREDAI MCHI E-BIZNET

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