​CIDCO undertakes various mega infrastructure projects, including the ongoing Navi Mumbai International Airport, Navi Mumbai Metro, NAINA, Corporate Park etc. The town planning body has allotted land parcels on lease to different real estate developers to create residential and commercial projects.

In a move to streamline the processes of the real estate segment in Navi Mumbai, the government of Maharashtra has formed an expert four-member committee that will take care of development-related aspects and suggest solutions to any problem in real estate related infrastructure development.

This committee will comprise the former Chief Secretary, Principal Secretary, UD-II, Joint Managing Director of ​CIDCO and representatives of CREDAI-MCHI-BANM.

CIDCO undertakes various mega infrastructure projects, including the ongoing Navi Mumbai International AirportNavi Mumbai Metro, NAINA, Corporate Park etc. The town planning body has allotted land parcels on lease to different real estate developers to create residential and commercial projects.

At the same time, CIDCO is also responsible for developing the required infrastructure with civic amenities on these plots and in the adjoining areas. This committee is formed to fast-track the various processes like developing roads, water supply and other basic infrastructure.

“CIDCO has always been at the forefront in providing innovative solutions for the betterment of the real estate industry in Navi Mumbai. Recently under the guidance of the Chief Minister, we have inaugurated the Ease of Doing Business Cell for the benefit of real estate developers and homebuyers that will bring more transparency in the functioning,” said Sanjay Mukherjee, Vice Chairman & Managing Director of CIDCO.

This move, according to him, will help expedite various projects and pave the path for the rapid development of the real sector in Navi Mumbai and adjacent areas.

“We at CREDAI-MCHI had formed a Task Force to try and resolve the issues faced by our developer members working in Navi Mumbai and Raigad regions. We are glad that the Government of Maharashtra is forming a committee to resolve these issues,” said Boman Irani, President, CREDAI MCHI.

The developers’ body has nominated Raajesh Prajapati and Keval Valambhia to be a part of this committee.

“Many projects were delayed due to the delay in providing basic infrastructure, leading to a massive increase in additional lease premium in the recent past leading to stoppage of work in various projects thus affecting the homebuyers,” said Raajesh Prajapati, Convenor of CIDCO Task Force of CREDAI -MCHI.

According to him, this move will help restart various stuck projects and provide clarity on offering possession to home buyers in projects held up due to delay in resolution of premium issues by CIDCO.

Source: realty.economictimes.indiatimes.com

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