VMPL
Mumbai (Maharashtra) [India], August 18: In a landmark development for Mumbai's real estate sector, CREDAI-MCHI, the apex body representing real estate developers in the Mumbai Metropolitan Region (MMR), has announced the appointment of Mr. Sukhraj Nahar, Chairman of Nahar Group, as its 18th President for the 2025-2027 term in a grand Change of Guard ceremony held at Jio World Centre. The event was graced by the Hon'ble Chief Minister of Maharashtra, Shri Devendra Fadnavis, along with distinguished past presidents, the new management committee and various members of the association.
Mr. Nahar succeeds Mr. Domnic Romell who has served the association with distinction over the past two years. This change of guard marks not only a leadership transition but also the beginning of a transformational phase for the real estate ecosystem in the Mumbai Metropolitan Region (MMR). CREDAI-MCHI also announced the new management committee comprising of Mr. Bandish Ajmera - President Elect, Mr. Rushi Mehta - Secretary, and Mr. Nikunj Sanghavi - Treasurer. The ceremony marked not only a leadership transition but also the formal pledge to drive the organisation's new strategic framework. CREDAI-MCHI is setting its sights on Mission CARES, a comprehensive blueprint to bring Compassion, Affordability, Reforestation, Empowerment, and Skilling to the forefront of urban development.
Shri. Devendra Fadnavis, Hon. Chief Minister of Maharashtra said, "CREDAI-MCHI family has been an indispensable partner in shaping Mumbai's real estate future. Together, we pioneered the country's most successful RERA implementation, streamlined ease of doing business, and co-created the Mumbai Development Plan with unprecedented industry-government collaboration. Today, Mumbai stands at the cusp of a massive transformation -- from Asia's largest urban renewal at BDD Chawls to slum-free, technology-driven redevelopment, and the creation of the Third and Fourth Mumbai as new economic growth engines. With world-class infrastructure, high-speed connectivity, an upcoming Innovation City that can rival global hubs, and the potential to build cities even better than Dubai, we have a once-in-a-generation opportunity. Over the next 10 years, we can transform Mumbai and the MMR into a global benchmark for urban living. The government is fully committed to working hand-in-hand with the real estate sector to make this vision a reality."
Speaking on his vision for 2025 - 2027, Mr. Sukhraj Nahar, President of CREDAI-MCHI stated, "Our sector has always built Mumbai's skyline. Now, we must also build its soul. Mission CARES is our declaration to the government, home buyers, and our own conscience--that we will develop with empathy, digitise with purpose, green our cities with urgency, and ensure every home is accessible and dignified. This is a pivotal moment to move beyond rhetoric and deliver real, measurable impact."
Mr. Rushi Mehta, Secretary, CREDAI-MCHI emphasized, "The real estate sector touches lives in every square foot it creates. We are not just asking the government to act--we are showing them that the industry is ready to co-create better policies, embrace tech, and uplift every worker, homebuyer, and citizen. Mission CARES represents CREDAI-MCHI's renewed commitment to building with compassion, ensuring access for all, restoring green spaces, driving economic growth through innovation, and skilling the workforce that shapes the region's skylines. The five pillars will guide all member initiatives over the next two years."
Mr. Domnic Romell, Immediate Past President, CREDAI-MCHI extended his full support to the new leadership. He said, "Over the last two years, we've set the stage for deeper collaboration between government bodies, developers, and civil society. I am confident that under Mr. Nahar's leadership, CREDAI-MCHI will now scale new heights--not just in construction, but in conscience as well." While handing over the baton to the incoming President, Mr. Romell further elaborated, "Our tenure was about turning challenges into opportunities and building a more transparent, inclusive ecosystem. Mission CARES is the natural evolution of that journey -- a moral compass for the next era of real estate, ensuring that growth and responsibility go hand in hand."
Mr. Dhaval Ajmera, Outgoing Secretary, CREDAI-MCHI, stated, "We have always been builders; now we choose to be healers too. Mission CARES is not just a vision -- it is a call to action for governments, civil society, and every stakeholder in the urban ecosystem to create a future where development is measured by the dignity, equity, and sustainability it brings. Real change in our sector comes from consistent, well-calibrated policy interventions. Mission CARES strengthens our resolve to embed inclusion, green growth, and technology adoption into the governance framework, ensuring that ambition transforms into action."
Mumbai's developers currently pay an average of ₹54,221 per square meter as approval costs, among the highest in the country. Premiums, duties, and levies often constitute 35-40% of the total project cost, placing a significant financial burden on homebuyers and delaying project timelines. "Compliance costs are one of the biggest roadblocks to affordable housing," noted Mr. Keval Valambhia, Chief Operating Officer, CREDAI-MCHI. He added, "At CREDAI-MCHI, we are pushing for single-window clearances, rationalized premiums, and tech-led approvals. Prop Tech will enable AI-driven project tracking and blockchain-backed compliance, making the process faster and more transparent. The shift from paperwork to real-time systems is critical. Every rupee saved in friction is a rupee that builds scale, trust, and better homes. Because at the end, building better homes is about building a stronger India together."
The CARES framework commits the organisation to 5 pillars:
- Compassion through CSR and social welfare for construction workers, women, children, and underserved communities.
- Affordability in Housing through policy reforms and innovative development models.
- Reforestation & Urban Greening to offset the carbon impact of construction and improve city liveability.
- Empowerment through PropTech to drive transparency, digital transformation, and economic growth.
- Skilling of 10,000+ workers annually to power India's infrastructure boom with capable hands and secure livelihoods.
The new leadership has outlined an ambitious but pragmatic roadmap for the next 24 months:
- Establishment of a PropTech Lab to accelerate innovation adoption.
- Creation of an Affordable Housing Innovation Cell (AHIC).
- Launch of mobile Skilling Labs across the MMR region.
- Dialogue with the state to rationalize development premiums and stamp duties.
- Integration of green scorecards in every member project.
Under its CSR vision, CREDAI-MCHI has committed to organising 100+ free health camps annually, supporting over 1,000 students with scholarships (especially girls), operating 25 daycare centres for construction workers' families, maintaining zero child labour across all member sites, and mobilising ₹10 crore+ for disaster relief and social programmes.
The affordable housing mandate aims to promote 10,000+ affordable units through member projects by 2026, publish a policy white paper on regulatory reforms for faster approvals, create an Affordable Housing Innovation Cell, and conduct three regional workshops with urban bodies on rental and worker housing. The focus is on ensuring affordability without compromising on quality, sustainability, or access to civic amenities.
In line with its environmental commitments, the reforestation agenda targets the planting of 1 million trees across 50+ urban locations by 2026, integrating minimum green buffers in all new member projects, and creating five model biodiversity parks in partnership with local authorities.
The economic growth and innovation pillar will see 70% of member developers adopt at least one PropTech solution, 20+ startups onboarded to the new PropTech Lab, and the listing of 10+ REIT-ready assets.
On skilling, CREDAI-MCHI will train 10,000+ construction workers annually, issue 2,500+ Green Job Cards, and deploy three mobile skilling labs across the Mumbai Metropolitan Region to deliver on-site training in green construction, safety, and emerging technologies.
With over 2,200 member developers, CREDAI-MCHI's Change of Guard 2025-2027 marks the beginning of a decisive chapter -- one where the industry pledges to build not only for today's cities but for tomorrow's generations, guided by measurable goals that blend economic growth, environmental stewardship, and social equity.
ABOUT CREDAI-MCHI
CREDAI-MCHI is the apex body of real estate developers in the Mumbai Metropolitan Region. (MMR). With an impressive membership of over 2200+ leading developers in MMR, CREDAI-MCHI has extended its reach throughout the region, establishing units in various locations such as Thane, Kalyan-Dombivli, Mira-Virar, Raigad, Navi Mumbai, Palghar-Boisar, Bhiwandi, Uran-Dronagiri, Shahapur-Murbad, and most recently in Alibaug, Karjat-Khalapur-Khopoli, and Pen. Being the only Government-recognised body for private sector developers in MMR, CREDAI-MCHI is dedicated to promoting the industry's organisation and progress. The association is committed to driving policy reform, housing innovation, and sustainable development in partnership with the government and urban stakeholders.
As a part of CREDAI National, an apex body of 13000 developers across the nation, CREDAI-MCHI has emerged as a preferred platform for regional discussions on housing and habitat by establishing close and strong ties with the government. It is committed to breaking barriers to create a strong, organised, and progressive real estate sector in the MMR.The vision of CREDAI-MCHI is to empower the Real Estate fraternity of the Mumbai Metropolitan Region as it preserves, protects, and advances the right to housing for all. To continue being a trusted ally, guiding their members, supporting the Government on policy advocacy, and assisting those they serve through the ever-evolving real estate fraternity.
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