Mumbai Metropolitan Region (MMR) needs a different set of parameters to make affordable housing available to a larger number of home seekers. This was stated by Valsa Nair Singh, Additional Chief Secretary of the Housing Department, Government of Maharashtra. Singh was speaking at the CII 5th Real Estate Confluence, 2023 in Mumbai.
She said, “Strong stimulus by the Maharashtra Government ensured that the pandemic didn’t negatively impact housing and real estate. The post-pandemic world sees changed requirements and to successfully meet these, a New Policy is being proposed. This will be ‘inclusive’ and created with inputs from all stakeholders, and will focus on making housing Sustainable, Affordable and Innovative, with Green Building tech being the primary focus.”
Chairman, MahaRERA Ajoy Mehta mentioned that Maharashtra has been the leader in implementing RERA in the country. “You have numbers, so you have noise. The beauty is when it turns into music,” he pointed out.
“While transparency was the key, it had to be balanced by ensuring that the sharing of information was limited to that which would help the home buyer do due diligence and take the right decision,” he added.
Anuj Puri, Chairman, CII 5th Real Estate Confluence 2023 & Chairman, ANAROCK Group said, “We are seeing higher inflows from equity in housing and this reflects on improved investment opportunities in the sector.” He added, “Proptech is another sunrise sector, with increased involvement in Indian real estate by global firms.”
The CII-Anarock Real Estate Report was released during the event, and made some interesting points – like 45 per cent of property seekers in NCR and 32 per cent in MMR now prefer to buy 3BHKs. Millennials continue to drive housing demand, and the end-user-investor ratio now stands at 71:29, the report highlighted.
Dr Praveer Sinha, Chairman, CII Western Region and CEO & Managing Director, Tata Power Company spoke of the resurgence in Indian real estate and how it will play a major role in driving the nation’s economic growth.
Neel Raheja Chairman CII National Committee on Real Estate and Housing & Group President, K Raheja Corporation mentioned that while driving India’s target of becoming a USD 5 trillion economy was something where real estate would play its role, there were challenges which needed resolution.
