February 17, 2016, MUMBAI: MCHI - CREDAI inked the historic Memorandum of
Understanding (MOU) with Government of Maharashtra for Affordable Housing in the presence of Hon'ble Chief Minister Shri Devendra Fadnavis and Hon'ble Housing Minister Shri Prakash Mehta. MoU was Jointly signed by Shri Shreekant Singh, Principal Secretary, Housing, Government of Maharashtra and Shri Dharmesh Jain, President, MCHI - CREDAI.

Under the MoU, the immediate initiative would be to kick start 5.69 Lakh Affordable Housing Units at an estimated investment of Rs.110,000 Crore in 2016, with joint efforts of Government of Maharashtra and CREDAI-MCHI which is primarily based on Ease of Doing Business in all sectors which was implemented by MCGM recently. The desired focus has been provided by Hon'ble Chief Minister Shri Devendra Fadnavis by ensuring that all proposed projects are accorded necessary permissions, registrations, approvals, clearances and fiscal incentives etc. from the concerned departments of the State, so that the initiative actually gets kick-started in 2016.

Under this MOU, CREDAI-MCHI has pledged and committed that it will make all reasonable endeavours to play the Role of facilitator to its members and encourage the members to take up construction of such Affordable Houses within projects. CREDAI-MCHI in consultation with its members, from time to time will make proposals and submit these to the Government of Maharashtra which would be ultimately aimed at promoting the development and construction.

This MOU is a step taken in the direction of firming CREDAI-MCHI's commitment to undertake the role of a facilitator for the construction of affordable housing within projects developed by respective members for the benefit of all stake-holders.