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In a landmark move to improve coordination between Mumbai’s municipal administration and the real estate sector, BrihanMumbai Municipal Commissioner Shri Bhushan Gagrani has agreed to form a ‘Real Estate Steering Committee’ aimed at launching the next phase of Ease of Doing Business (EODB 2). The committee will include representatives from CREDAI-MCHI, NAREDCO Maharashtra, PEATA, and BDA, alongside senior officials from various BMC departments, including the fire services.
The initiative was announced during a joint meeting at the BMC headquarters, where top office-bearers from leading developers’ associations presented unified recommendations to address procedural bottlenecks and policy challenges. The committee will meet fortnightly, with monthly participation from the Municipal Commissioner himself, ensuring real-time feedback and implementation tracking.
Among the key proposals was a rationalized premium payment structure—10% at approval, 10% at Commencement Certificate (CC), and 80% at Occupation Certificate (OC). This 10:10:80 model aims to ease financial pressure on developers by aligning payments with project cash flows, without compromising civic revenue.
“We’re committed to building structured, transparent mechanisms for regular dialogue and timely resolution,” said Shri Sukhraj Nahar, President, CREDAI-MCHI. “The proposed model is fair, practical, and revenue-neutral.”
Shri Sandeep Runwal, Vice Chairman, NAREDCO Maharashtra, added, “This marks a shift toward collaborative problem-solving. The real estate sector is a key growth engine, and sustained engagement with civic authorities is essential.”
The meeting builds on the momentum of the Real Estate Leaders’ Convergence held earlier this month, where associations resolved to represent the sector jointly. With the formation of the Steering Committee and the rollout of EODB 2, Mumbai’s real estate ecosystem is poised for a more efficient, transparent, and tech-enabled future.
