Building a Bridge for the Future |
|
On August 24, 2016, CREDAI-MCHI organized a well attended seminar to highlight the suggestions and objections submitted to MCGM on various aspects of Draft DP-DCR 2034, mostly affecting the real estate sector in Mumbai and to analyze the provisions of Real Estate (Regulation and Development) Act (RERA) with respect to the legal aspect and impact of newly introduced (Goods & Services Tax) GST. This move was made after taking into consideration to help the developers fraternity understand the nitty-gritty’s of the bill. The seminar was graced by Shri Ajoy Mehta (I.A.S.), Hon’ble Municipal Commissioner, MCGM who was the Chief Guest along with Shri Gautam Chatterjee Expert’s Planning Committee on Draft DP & DCR- 2014, who was Guest of Honour, Shri Dharmesh Jain, President CREDAI-MCHI, Shri Mayur Shah, President elect and Shri Vyomesh Shah- IMM's Past President, MCHI – CREDAI.
Technical Session – I started with the presentation by Er. Shri Manoj Kumar Dubal, President, PEATA outlining salient features of Draft DP & DCR 2034 giving chapter wise conclusion followed by presentations by Ar. Manoj Daisaria – Past President and Ar. Tarun Motta, Vice President, PEATA.
Experts from the respective fields were present at the seminar to share their views on the MMR’s road to the top position. Major pointers to look forward to in the new future were Affordable Housing, Rental Housing, the need for speedy approvals, job creation, premium and taxes on real estate. Also the attendees (inclusive of BMC officials, PEATA officers and Developers) were encouraged to interact to be able to understand the provisions better and give their input.
Representing developer’s views and opinions, Shri Dharmesh Jain, President, MCHI – CREDAI said, “As CREDAI-MCHI, we are aiming and targeting to bring back Mumbai where it rightfully belongs – the best place for Real Estate business in the country. DP is planned once in 20 years and hence we should ensure that we have the best one. One of the key objectives of this DP should be Job Creation and to create at least one million jobs in Mumbai.”
Shri Gautam Chatterjee said “On the outset I must congratulate CREDAI-MCHI for organizing such a seminar where the planning committee is supposed to technically cast the hearing of the objections and suggestions that are made out for the DP-DCR 2034. Further, I’m sure that in the official hearing, we should be able to iron out a lot of issues that have come up in this session which will help in paying a better Mumbai for all of us.”
Shri Ajoy Mehta, (I.A.S.) Municipal Commissioner’s stated, ‘’A government’s plan must have four philosophies. The first philosophy in any urban planning is that it must create job opportunities, followed by creating affordable housing for all. Going further the third philosophy should focus on the quality of life and lastly special reservation for the disabled, women and children. We are now looking at the 2100 hectares out of the ‘No Development Zone’ areas for affordable housing.”
He added, “Any DP tells you in how in next 20 years economical, social and environmental plan of city would open up. You need to look at paradigms of planning what are the things which are going to restrict the plan. Mumbai land area is 476 Sq.Kms out of which 70% is not developed, 30% is natural area, 20% is reservations, 12% is existing area and 9% is Aarey colony, hence very limited area to work on…
…In DP, we want transparency and predictability; besides wanting it to be clearly stating what can be done and what needs to be done. There would always be ideal situation and practical situations, we are open to changes.”
Speaking on the occasion, Shri MAYUR SHAH, President – Elect, MCHI – CREDAI said, “We are in challenging times and it is important to know what 2034 DCR is going to propose…
…Since 2011 when approvals were stopped absolutely and at the end of 2011 we came up with 2012 policy, when all of us went back to the drawing board, when there was fungible DCR. The very important thing that actually happened in 2012, there was substantial increase in land rate & Ready Reckoner Rates (RR) during 2012-2016. There is around 200-250% increase on RR rates, and the problem was that all our premiums /amenities were linked to RR rates. The major cost of fungible FSI is 60% of RR.” Shri Shah presented very informative and thought-provoking Case Studies on 1000 Sq.Mtr. plot on various locations across Mumbai and cost involved on them.
Expressing candidly the issues related to last DP & DCR, Shri VIMAL SHAH, Immediate Past President, MCHI – CREDAI said, “When we attended the first meeting of DCR, Commissioner gave directions that DP/DCR should be simple and predictable to understand and MC should not be required to sign any documents.”
Shri Shah added that Committee had failed in DCR in all respects. What was decided in 1991 DCR was based on certain presumptions at that point of time like: Infrastructure not existing in the city, so stop construction and this way population does not increase based on which FSI which was 1.67 in city was reduced to 1.33.
Based on this process entire DCR was created. DCR 1991 in the language of developer translates as:
Now the time has come for DCR 2034, the directions given by Hon’ble Municipal Commissioner need to be met. We are sure that his vision will be implemented in DP & DCR 2034.”
The concluding session of the seminar witnessed Shri Ravikumar Yanamandra from E&Y who gave valuable expertise on the concepts, salient features and financial Aspects of the GST. |
|
