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Dr. Niranjan Hiranandani - Slum-Free Mumbai Is Achievable

Dr. Niranjan Hiranandani, a pioneering Indian entrepreneur and Chairman of the National Real Estate Development Council (NAREDCO), is renowned for his transformative contributions to the real estate sector. As the co-founder of the Hiranandani Group, he has played a pivotal role in reshaping urban landscapes with sustainable residential and commercial projects.

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Dr. Niranjan Hiranandani - Slum-Free Mumbai Is Achievable

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  1. Dr. Niranjan Hiranandani Slum-Free Mumbai Is Achievable

  2. Introduction Dr. Niranjan Hiranandani, a pioneering Indian entrepreneur and Chairman of the National Real Estate Development Council (NAREDCO), is renowned for his transformative contributions to the real estate sector. As the co-founder of the Hiranandani Group, he has played a pivotal role in reshaping urban landscapes with sustainable residential and commercial projects. Beyond real estate, Dr. Hiranandani is celebrated for his philanthropy in education and healthcare, as well as his commitment to sustainable development. Under his guidance, NAREDCO has championed policy reforms that promote growth and transparency in the real estate industry. 01 During the 3rd NAREDCO Mahi Convention, Dr. Niranjan Hiranandani shared his insights on achieving a slum-free Mumbai, the importance of ESG (Environmental, Social, and Governance) goals in real estate, and the economic benefits of redeveloping slums. Here’s a closer look at his visionary ideas.

  3. Are Indian Builders Ready to Embrace ESG Goals? Dr. Niranjan Hiranandani emphasizes that adopting ESG standards is no longer optional but a necessity for real estate developers. “Without embracing ESG, you risk losing customers,” he states. 02 For over 25 years, the Hiranandani Group has been at the forefront of green building practices, constructing platinum-rated green buildings that prioritize: Sewage recycling Afforestation and landscaping Sustainable construction methods While the shift towards ESG compliance is underway, Dr. Hiranandani highlights that this transformation requires time. Developers must secure approvals, align stakeholders, and work steadily to integrate these practices.

  4. Is a Slum-Free Mumbai Achievable? Dr. Hiranandani firmly believes that Mumbai can be slum-free within 5 to 7 years. His comprehensive proposal, presented to the state and central governments, outlines an affordable housing scheme with an initial investment of ₹20,000 crores. 02 Replace slums with affordable housing units. Enhance the quality of life for residents. Create sustainable urban environments.

  5. 10 Revenue Generation: Successful redevelopment projects like the Dharavi model demonstrate the potential for high returns. Urban Transformation: Redevelopment creates cleaner, safer, and more livable cities. Job Creation: Large-scale redevelopment projects drive employment in construction and related industries. Dr. Hiranandani envisions slum redevelopment as the cornerstone of Mumbai’s urban revolution. Financial and Economic Benefits of Slum Redevelopment Redeveloping slums offers significant economic benefits. According to Dr. Hiranandani, the government stands to gain ₹50,000 crores in profits from such projects. Key economic advantages include: 1. 2. 3.

  6. The Future of Mumbai Real Dr. Hiranandani predicts a dual trend in the real estate market: Luxury Housing Prices Will Rise: Increased demand for high-end properties will drive prices upward. Affordable Housing Prices Will Decline: With government initiatives to build one crore affordable housing units, accessibility and affordability are expected to improve. Estate This dual trajectory reflects a balanced approach, catering to both luxury and affordable housing markets.

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