- Municipal Commissioner Bhushan Gagrani announces formation of Real Estate Steering Committee
Priti Shukla, Mumbai:
In a landmark initiative to strengthen coordination between Mumbai’s real estate industry and the civic administration, Municipal Commissioner Bhushan Gagrani has announced the formation of a Real Estate Steering Committee. The decision aims to accelerate reforms under a proposed Ease of Doing Business (EODB) 2.0 framework and remove bottlenecks hampering project approvals and development processes.
The announcement came during a joint meeting organized by CREDAI-MCHI President Sukhraj Nahar and Secretary Shri Rushi Mehta, which saw participation from senior representatives of NAREDCO, PEATA, and BDA, along with officials from various departments of the Brihanmumbai Municipal Corporation (BMC).
The meeting, chaired by Municipal Commissioner Bhushan Gagrani, focused on streamlining procedures, improving transparency, and ensuring time-bound clearances for projects. Gagrani announced that the newly constituted Steering Committee would meet fortnightly, chaired by Deputy Chief Engineer Chandrashekhar Undge, to discuss and resolve key policy and operational issues. The Commissioner also assured that he would personally attend the meetings once every month to review progress and monitor implementation.
“As long as the industry’s demands are for the greater good, MCGM will always stand with developers,” said Bhushan Gagrani, emphasizing the civic body’s commitment to simplifying procedures and unlocking the city’s growth potential. “Our goal is to create a transparent and efficient approval process that benefits both the city and the real estate ecosystem,” he added.
Among the significant proposals discussed was the rationalization of the premium payment structure through a 10:10:80 model—where developers would pay 10% of the premium at the time of approval, another 10% at the stage of Commencement Certificate (CC), and the remaining 80% at the Occupation Certificate (OC) stage.
Currently, developers are required to pay multiple premiums upfront—such as fungible FSI, open space deficiency, fire service charges, scrutiny fees, and development cess—often before any revenue is generated. The proposed model seeks to align payments with project progress and cash flow while keeping civic revenues intact.
“It is heartening to see all real estate associations coming together with one voice,” said Sukhraj Nahar, President of CREDAI-MCHI. “The proposed 10:10:80 payment model is fair and practical, ensuring that projects remain financially viable while the BMC’s revenues are protected.”
Rushi Mehta, Secretary, CREDAI-MCHI, added, “This initiative reflects a new spirit of collaboration between the industry and the civic administration. Regular engagement will help identify challenges early and ensure smoother implementation of reforms.”
The meeting also underlined the success of the Real Estate Leaders’ Convergence held earlier this month, where all major associations resolved to represent the industry jointly. The formation of the Steering Committee marks a crucial step in that direction, setting the tone for a structured, transparent, and solution-oriented dialogue between the civic administration and Mumbai’s real estate fraternity.
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