Realty Revives

The conclave themed Realty Revives” saw some insightful discussions on the topic of RERA and on the subject of Mumbai development.   “Mumbai 2.0: Reshaping the City Mumbai’s residential real-estate remains unaffordable to a majority of its residents. This is not indicative of its desirability, but highlights the city’s failure to cater to the housing needs of its citizens. The experts’ panel deliberated if going forward will the city continue its chaotic development or shape up. The panel discussion moderated by Jaideep Pandit, Executive Director, Consulting Services, India, CBRE South Asia included Architect Abraham John, Principal Architect- Abraham John Architects, Jayanand Potdar, COO, Godrej Properties Ltd., Sangeeta Prasad, CEO, IC&IC, Mahindra Lifespace, Nayan Shah, CEO & MD, Mayfair Housing, Mayur Shah, President, MCHI-CREDAI and Shridhar Narayan, Group Director, Advisor & CISO, Hiranandani Communities. The panellists reviewed Mumbai affordable housing sector and its practical challenges such as the dire need of strategic urban mobility and infrastructure planning for horizontal expansion. While some experts felt that vertical growth, slum re-development, cluster development and integrated townships at the peripheriesoffered the solutions for city's housing shortage, others felt reshaping of the city was impossible and maybe Mumbai required to be re-built.   “RERA: Experience & Influences” The big news for the real-estate sector has been the coming in effect of Real Estate Regulatory Act (RERA).  Is the pain only short term for everyone to gain long-term benefits or is there a negative side to it too. The session was aimed at analysing the post RERA climate of Indian realty sector. The discussion moderated by AnujPuri, Chairman Anarock Property Consultants presented the views of eminent panellists Jayesh Kariya, Chartered Accountant & Real Estate Consultant, Solicitor Parimal Shroff, Founder, Parimal K. Shroff & Co., Amit Bhagat, CEO & MD, ASK Property Investment Advisors, Deepesh Salgia, CEO, Grand View, Shapoorji Paloonji Real Estate, Vinod K. Rohira, MD, Commercial, Real Estate & REIT, K. Raheja Corp. and Manish Porwal, Managing Director - ?Alchemist Marketing & Talent Solutions. The dialogue on the RERA short term implications for the sector, new investment avenues and the legal angle of implementation were debated. The panellists expressed that new ways of marketing and realty sector behaving like FMCG sector will drive its future, drastically impacting the developer’s business strategies.