• Sanjeev Jaiswal, CEO of MHADA, emphasizes the need for strong public-private partnerships to revitalize Mumbai's aging housing stock, highlighting the challenges of land scarcity and the importance of transparent processes.
• The recent amendment to Section 91A, allowing MHADA to take over stalled projects, and provisions under Section 79A for fair compensation to landowners, are seen as crucial steps towards addressing redevelopment hurdles.
• Successful redevelopment requires a focus on viability, transparency, and timely delivery, with clear FSI frameworks and open communication to protect tenant rights and project feasibility, according to Jaiswal.
• CREDAI representatives Boman Irani and Domnic Romell also stressed the importance of collaboration, trust in appointed committees and consultants, and avoiding unrealistic expectations and outdated norms in the redevelopment process, advocating for a focus on resident needs and the utilization of RERA regulations.