CREDAI-MCHI Contributes Rs. 3.65 Crore to Chief Minister’s Relief Fund
On October 7, 2025, a delegation from CREDAI-MCHI met Hon’ble Chief Minister of Maharashtra, Shri Devendra Fadnavis, to hand over a cheque of Rs. 3.65 crore contributed towards the Chief Minister’s Relief Fund. The contribution aims to support rescue and rehabilitation operations in flood-affected regions of central Maharashtra and adjoining areas.
In a strong display of solidarity and social commitment, 44 member developers of CREDAI-MCHI came together for this noble cause, reaffirming the real estate industry’s dedication to the welfare of the state and its citizens.
The cheque was presented to the Hon’ble Chief Minister by Shri Sukhraj Nahar, President, CREDAI-MCHI, and Shri Rushi Mehta, Secretary, CREDAI-MCHI, in the presence of several leading developers from the Mumbai Metropolitan Region.
This initiative underscores CREDAI-MCHI’s unwavering commitment to stand with the people of Maharashtra during times of need and contribute meaningfully to the state’s ongoing relief and rehabilitation efforts.
Meeting with Shri Aseem Gupta, Addl. Chief Secretary (UD-I) and Shri Satish Gite on October 15, 2025
A delegation comprising representatives from CREDAI-MCHI, NAREDCO, and BDA met Shri Aseem Gupta, Additional Chief Secretary (UD-I), and Shri Satish Gite to discuss and request an extension of the Deferment Policy.
During the meeting, the delegation made a three-fold request:
- To make the deferment policy applicable to all approving agencies, including MCGM, MHADA, SRA, and others.
- To make the deferment a permanent policy, instead of requiring extensions every three years.
- To maintain the interest rate at 8% under the deferment policy.
All three points were positively accepted by the Urban Development Secretary.
Furthermore, the delegation has requested a joint meeting to deliberate on other Urban Development related issues.
Meeting with Shri Bhushan Gagrani (I.A.S.), Municipal Commissioner, BMC on October 15, 2025
A delegation met Shri Bhushan Gagrani (I.A.S.), Municipal Commissioner, Brihanmumbai Municipal Corporation (BMC), with the objective of presenting a unified front and seeking his appointment post-Diwali for joint discussions on various points that emerged during the recent Convergence Meet.
During the interaction, the delegation also took the opportunity to briefly discuss key issues related to Regulation 33(12).
Subsequently, the team met Shri Chandrakant Undge, Shri Chandrashekhar Chore, and Shri Sharad Ughade (DMC – Health) to touch upon several issues within their respective areas of jurisdiction.
A follow-up meeting is planned post-Diwali to continue discussions on multiple matters, including the ongoing concerns surrounding Regulation 33(12).
Meeting with Shri Bhushan Gagrani (I.A.S.), Municipal Commissioner, BMC on October 24, 2025
A marathon meeting was convened by Shri Sukhraj Nahar, President, CREDAI-MCHI, where representatives from CREDAI-MCHI, NAREDCO, BDA, and PEATA met Hon’ble Municipal Commissioner, Shri Bhushan Gagrani (I.A.S.), along with senior MCGM officials Shri Chandrakant Undge, Shri Sunil Rathod, Shri Chandrashekhar Chore, Shri Ravindra Ambulgekar, Shri Parab, Shri Kate, and Shri Nirmal.
Key Outcome:
Formation of a Real Estate Steering Committee under the chairmanship of Shri Chandrakant Undge, to convene fortnightly meetings with representation from all developer associations and MCGM officers for real-time issue resolution.
The Municipal Commissioner also assured his personal participation on a monthly basis in these deliberations.
Additionally, CREDAI-MCHI, jointly with NAREDCO, BDA, and PEATA, proposed a 10:10:80 premium payment mechanism covering Fungible FSI, OSD, Fire Service Fees, PCO Charges, Development Cess, and other related heads. A transformative initiative aimed at improving industry cash flows. The Municipal Commissioner was receptive to the proposal and advised that it be further deliberated within the Steering Committee.
Meeting with Shri Satish Gite – OSD to ACS on October 27, 2025
A meeting was held with Shri Satish Gite, Officer on Special Duty (OSD) to Additional Chief Secretary (ACS), to discuss the extension of the deferment policy for State Government premiums.
During the discussion, CREDAI-MCHI requested a reduction in the interest rate to 8.5%. However, it was clarified that since BMC and SRA have already increased the rate to 12%, the Urban Development (UD) Department cannot direct them to lower it.
Key Point:
The matter of interest rate rationalization remains under consideration, contingent upon alignment with policies of local authorities such as BMC and SRA.