Need of Time-Bound Infrastructure Development for the Growth of Real Estate Market in MMR and Mumbai, Niranjan Hiranandani
Niranjan Hiranandani
According to Niranjan Hiranandani, MD of Hiranandani Communities and Founder-First President of NAREDCO (National Real Estate Development Council) Maharashtra that works under the aegis of Ministry of Housing & Urban Poverty Alleviation, Government of India, stated that Infrastructure projects and their timely completion are responsible for the success and growth of Mumbai Metropolitan Regions and Mumbai’s real estate market.
While elucidating these aspects Niranjan Hiranandani explains few projects such as; the Sewree–Nhava Trans-Harbour Bridge has increased the Metro connectivity whereas; Pinjal River project was necessary for real estate development and its growth in Mumbai and MMR. The more he added that these aspects and projects has changed the land use and its development in zones with granting of FSI and its proper usage of reclaimed land. He also pointed out that Mumbai can be the largest flower bed with surrounding Mumbai’s coast but for that it need to have the coastal road for Mumbai; apart from that it has potential to increase the green cover and ecological balance.
While addressing the context of real estate development and its growth in Mumbai city Niranjan Hiranandani stated that Infrastructure and development is necessary for growth of real estate sector”. The more he added that 4000 acre of saltpan land in Mumbai have a potential to create 5 to 5.5 lakh affordable housing units, however; the improvements of slum areas in all over the city is essential and for that we should implement slum policy which can effectively solve the problem of affordable housing in Mumbai.
However; to bring the development in the MMR, he said that vision of the Project Naina has been shared with Devendra Fadnavis, the Chief Minister of Maharashtra as it is expected that project Naina is able to add around two times the land area of Mumbai to the MMR in form of a city and it has potential to complete the vision of Prime Minister which is the “Housing for All”.
