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According to Shri Devendra Fadnavis, deputy chief minister of Maharashtra, the Maharashtra government has finished the process of approving the long-stalled Dharavi redevelopment project. The tendering process necessary to start the redevelopment work will be finished in three months.
Fadnavis stated that the Dharavi Redevelopment Project would be one of the largest redevelopment projects ever undertaken by any government and would significantly alter the appearance of Mumbai. He was speaking at the Homethon Property Expo, which was hosted by the National Real Estate Development Council (Naredco) Maharashtra in Mumbai.
“Nearly 20% of the workforce is employed in the real estate sector, and we are aware that for it to expand, some compromises must be made. We are debating the issue with the chief minister, and we will make a creative conclusion in that regard,” he said.
He also discussed how the Navi Mumbai Airport Influence Notified Area (NAINA) project will significantly affect Mumbai’s real estate market. The development of real estate in NAINA, according to him, “would reduce costs around Mumbai and also give developers a lot of opportunity to provide quality construction there.”
The Jio Convention Center in BKC Mumbai is the location of the three-day real estate expo. Riteish and Genelia Deshmukh, brand ambassadors for the Homethon Property Expo, Dr. Niranjan Hiranandani, national VC of Naredco, and other prominent developers also attended the event’s opening.
According to Runwal, the government’s efforts to revitalise the real estate industry have aided in its expansion. Record sales were achieved during the era as a result of the pandemic’s cut in stamp duty, the author continued.
The Homethon Property Expo, according to him, is a fantastic opportunity for prospective house buyers to find their dream home at a competitive price. “More than 150 renowned developers present 1000 projects. They have released some incredible deals that are only available while the event is taking place. Property purchasers won’t have another chance like this, he predicted.
The property show offers consumers a wide selection of properties under one roof, including properties in the luxury, premium, and economical categories.
The Naredco-Knight Frank Report, The Grand Revival of Mumbai’s Residential Market, was also released by Fadnavis. Additionally, he debuted the cover of the new Guardians Real Estate Advisory magazine, Open Acres on the occasion.
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