Three major events in Mumbai brought the real estate fraternity together last week. MENKA SHIVDASANI caught some glimpses.
Last week, between December 17 and 21, the real estate fraternity gathered at three different venues to showcase the latest technologies and developments, discuss the events of the past year, and predict the shape of the future. There was the Mumbai Redevelopment Summit on December 17 at Courtyard by Marriott; the CIA World Conclave & 11th CIA World Awards 2025 at the Nehru Centre on December 19 and 20, and—starting on the same day, December 19— the Saifee Burhani Expo 2025 – Construction 360! at NESCO, Goregaon, which ended on December 21.
At the first two events, Gautam Chatterjee, Chairman, Griharmony Redevelopment Stakeholders Federation (GRSF) and Founder Chairman, RERA, was a prominent speaker as Guest of Honour, while the Municipal Commissioner, Mr Bhushan Gagrani took time off his busy schedule to visit NESCO on December 20.
MUMBAI REDEVELOPMENT SUMMIT (December 17, 2025)
In his keynote address at the Mumbai Redevelopment Summit, Mr Chatterjee said: “India's cities, as we all know, are the lifeline of its economy. Seventy per cent of the GDP comes from the cities and they are also driving innovation. But at the same time, we also know that the current trajectory in which urbanisation is happening is not quite sustainable. We have urban inefficiencies draining 5 to 8% of the GDP; this is according to the World Bank report of 2022. We also have seven of the 10 most polluted cities in the world. They are in India. This is IQAir, the Swiss air quality company. And we are all aware as to how we have inadequate housing, dilapidation and urban decay, informal housing or slums and then congestion, poor sanitation and a persistent deficit in urban services.”
-Mr. Gautam Chatterjee, Chairman, GRSF with 'AI-Powered PMC' Akbar Jiwani
Mr Chatterjee also mentioned several other concerning statistics—22-23 lakh homes classified as dilapidated; “a very high figure of maybe 1.5 crore people living in slums, figures of 2011 that would certainly significantly have grown by now” and 1.5 million hectares of farmland annually lost to urban sprawl. “Redevelopment and urban renewal will revitalise housing liveability and upgrade infrastructure,” he remarked.
Pointing out that RERA had brought a paradigm shift to the real estate sector, with Transparency, Trust and Timelines becoming the three main mantras of developers today, Mr Chatterjee noted that certain other aspects needed to be covered under RERA, such as the rental housing and the rehabilitation component of redevelopment.
“The biggest concern in brownfield redevelopment has been information asymmetry,” Mr Chatterjee added. “There is a lack of knowledge, and a lack of trusted guidance on this entire process. This becomes a prime reason for delays and stalling of projects.” GRSF is working towards bridging the information gap and bringing stakeholders together for great transparency and efficiency.”
Referring to obstacles such as unknown soil conditions, zoning constraints, permission delays and the small size of many society lands, among other things, Mr Chatterjee noted that every project has its own timeline. He also stressed that it was important to consider the needs of the “primary stakeholder”—the community—and put all information in the public domain to address the residents’ perception that decision-making was often not transparent.
Mr Chatterjee also lauded recent government decisions, including those on slum cluster redevelopment and the amnesty scheme for granting occupation certificates to buildings. The announcement regarding a year’s extension for the conversion of Class 2 (restricted ownership) to Class 1 (freehold, transferable) land would also go a long way towards facilitating redevelopment, he said. This would allow housing societies and landowners to gain full ownership at a reduced (5-10% of the Ready Reckoner rate).
“With all these, redevelopment will remain the primary strategy for Mumbai's housing expansion,” Mr Chatterjee said. “There is no greenfield land available.”
Sharing data from Knight Frank India’s Upgrading Mumbai: The Redevelopment Story, Gulam Zia, Senior Executive Director, Research Advisory, Infrastructure and Valuation, Knight Frank India, sounded a note of caution. The report notes that 1,005 societies are under redevelopment with Developer Agreements (DAs) registered. Many of these are small societies and redevelopment would typically take eight to ten years to be completed, he explained. “Till about three-and-a-half years back, you wouldn't have heard of a society getting more than 40% of extra area over and above what they occupied,” he remarked. Now, with greed taking over and developers offering huge incentives and flats being as much as 150% larger, projects could become unviable as the cycle turned, he said; they would need to be renegotiated or would fail.
Over the course of the day, there were multiple panel discussions with a galaxy of speakers. They included Dr Niranjan Hiranandani, who spoke about the need to create infrastructure to complement redevelopment—a subject that other speakers touched upon as well.
- Dr Niranjan Hiranandani
The panels focused on Financing & Real Estate Market Dynamics in Redevelopment, hosted by Naushad Panjwani, Chairman, Mandarus Partners; Policy, Regulation & DCR – Unlocking Redevelopment Bottlenecks, moderated by Dr. Adv. Harshul Savla; Execution Realities & Case Studies in Redevelopment, chaired by Mr Arvind Nandan, Managing Director – Research and Consulting, Savills Property Services (India) Pvt Ltd, and Redevelopment of Housing Societies, moderated by CA Ramesh Prabhu, Chairman, Maharashtra Societies Welfare Association (MahaSewa). Pratap Padode, Founder & President, FIRST Construction Council, gave the welcome address.
- from left Mr. Mayur Shah, Vice-Chairman, Marathon, and Mr. Vikram Mehta, President, BDA
A few key points that emerged:
· Delinquency can occur when people demand higher configurations. They should also be aware that projects with more amenities will require higher maintenance. Society members must understand that the developer has to make money or the project will not be viable.
· The housing policy looks very good on paper, but it should be implemented properly.
· Putting three years’ worth of advance rent into an escrow account may assure tenant protection, but it becomes very difficult for a developer to block money that could otherwise be used for the project redevelopment, as Mayur Shah, Vice Chairman, Marathon Group, observed.
· While self-redevelopment can be a boon to kickstart stalled projects where it may be difficult for a developer to come in, societies should also consider the hybrid model of developer-managed self-redevelopments. Here, the society controls the project but hires a developer or a consultant to handle execution.
· If passports can be outsourced under a public-private partnership model, why can’t construction approvals be similarly outsourced to qualified people, such as architects, for speedier implementation? This idea resonated with the audience and could make a huge difference if it is introduced.
CIA WORLD CONFERENCE (December 19 and 20, 2025)
The focus of the CIA World Conference at Nehru Centre included India’s Real Estate Vision for Viksit Bharat, Redevelopment & Affordable Housing, Infrastructure Growth – Aviation, Roads, Power, Water, Railways, Ports, ESG and Sustainability, Digital Tech & Modern Construction, and Innovative Materials and Techniques, among other things.
As the keynote speaker for this event as well, Gautam Chatterjee spoke about Viksit India, the Indian government's vision to make India a developed nation by 2047, its 100th year of independence. He also spoke of Mumbai’s positioning as a Growth Hub, referring to the ambitious Mumbai Metropolitan Region Development Plan spearheaded by MMRDA and NITI Aayog, aiming to transform the region into a $1.2-1.5 trillion global economic powerhouse by 2047. The plan focuses on new business districts, infrastructure such as high-speed rail and ports, and new integrated townships.
“Maharashtra contributes significantly to India’s GDP and is the backbone of the country’s growth,” Mr Chatterjee said, adding that “Technology and Artificial Intelligence (AI) will take us to the $30 trillion economy.” However, to make this happen, he noted, connectivity and sustainability were important. Mr Chatterjee referred to the various new and upcoming projects such as the Navi Mumbai airport, the Samruddhi Maha Marg, East-West links, and Metro, among others. He also pointed out that while a huge push towards redevelopment, including slum clusters, was taking place, it was necessary to work on the implementation of the housing policy and focus on issues such as rental housing. Mr Chatterjee also spoke of the Smart Villages scheme, which aims to improve the quality of life through digital empowerment, creating self-reliant rural economies. “Digital governance is close to the heart of the present government,” he remarked.
- Mr. Gautam Chatterjee, Chairman, GRSF and Founder Chairman, RERA
Speaking of the approvals process, Mr Chatterjee noted that a monopoly could breed corruption. “We suggested creating a panel of architects who could approve projects, linking this to RERA. But it requires political will,” he said.
CA Ramesh Prabhu, Chairman, Maharashtra State Welfare Association (MSWA) and Chairman, Viksit Management Consultancy Pvt. Ltd., also referred to the digital transformation that had taken place. Referring to how the income tax sector used to be marred by “huge corruption” a decade ago, he noted that the scenario had changed completely today, with everything being online and assessments being “faceless”.
- CA Ramesh Prabhu, Chairman, MSWA and Chairman, Viksit Management Consultancy Pvt. Ltd. Viksit, GRSF
There were several panel discussions, beginning with The Role of Emerging Technologies and Innovative Materials in the Construction and Infra Sector, moderated by Prof. A S Khanna, Chairman, Society for Surface Protective Coatings India (SSPC India). Speakers highlighted the innovations in glass, which offered safety and easier maintenance; they also spoke of the growth of the construction equipment industry in the face of India’s infrastructure boom, modern materials such as ready-mix plasters for speedier construction, and the importance of sustainability.
- Prof. A S Khanna, Chairman, Society for Surface Protective Coatings India (SSPC India)
Artificial intelligence was another topic that took centre-stage; Akbar Jiwani, who calls himself an ‘AI-Powered Project Management Consultant’ was one of the speakers and special guests on the occasion. Other special guests included Dr Subhash Dalvi, who, among other things, is a National Youth Awardee and former OSD, SRA and Dharavi Redevelopment Project, Maharashtra.
SAIFEE BURHANI EXPO 2025 – CONSTRUCTION 360! (December 19-21, 2025)
The Saifee Burhani Expo at the sprawling NESCO hall at Goregaon attracted over 120 exhibitors with the latest construction innovations. Organised by the Economic Development Department of Dawoodi Bohras, the event convened developers, architects, interior designers, urban planners, traders, businessmen and policymakers against the backdrop of an infrastructure boom.
On display were redevelopment projects from developers such as Raj Builders and JEM Infra Build LLP, among several others. The Saifee Burhani Upliftment Trust (SBUT) was also prominent, showcasing the makeover of Bhendi Bazar in South Mumbai, covering 16.5 acres comprising more than 250 decrepit buildings, 3200 families and 1250 shops.
- Dr Bhushan Gagrani With Mr. Yousuf Fakhruddin, CEO, Fakhruddin Properties
Dr Bhushan Gagrani (IAS), the Commissioner of the Brihanmumbai Municipal Corporation (BMC), paid a visit, causing much excitement among the participants. The Commissioner emphasised that the metropolis stands at a pivotal juncture. “With concerted efforts across both public and private sectors, the city’s future holds immense promise,” he said.
“At a time when Mumbai is undergoing a critical phase of transformation, the role of the BMC in strengthening infrastructure and ensuring the provision of basic services is vital to improving housing affordability,” he added.
Lauding the Dawoodi Bohra community’s efforts in implementing “progressive schemes that strengthen the city’s infrastructure”, the Commissioner was all praise for the Bhendi Bazar project. “The Bhendi Bazaar Redevelopment Project, in particular, stands out as a pioneering cluster development initiative focused on robust infrastructure and affordable housing, setting a benchmark for future developments,” he remarked.
A power-packed three-day conference highlighted topics like India’s Infrastructure Pathway to 2047; AI, BIM & IoT in Digital Construction; Heritage Revitalisation and Adaptive Reuse; Women, Skills & Automation in Construction and much more. The speakers included Keval Valambhia, COO, Maharashtra Chamber of Housing Industry (MCHI); Jimmy Mistry, Chairman, Della Group; Dr Mala Singh, Chairperson IGBC (CII) Mumbai Chapter, Chairperson & MD, PEC Greening India; Vishal Thakkar, Partner, Prem Group and Joint Secretary, NAREDCO Maharashtra, among several others.
Sustainability was also a key driver of the conversation. The special green innovation zone was a pioneering attempt at showcasing some key products from innovations in the construction and design industry including InnoStrucTech, Pidilite & WalAce, Rockwool, ProMat and many more.
“This expo reflects a long partnership,” said Taikhoom Mohiyuddin, Head of the community’s Economic Development Department. “Our community grew with Mumbai. Today, our entrepreneurs are part of the next phase of development, with a strong commitment to ethics, quality and responsible growth.”