Maharashtra CM approves Mumbai DP 2034

Maharashtra government has approved the Scrutiny Committee Report on the Mumbai Development Plan 2034. An official from the urban development department said, “The CM Devendra Fadnavis approved the Scrutiny Committee Report on Mumbai Development Plan 2034. This will pave way for implementing the new DP for accelerated growth of Mumbai city.” The DP 2034 proposes to unlock about 3,355 hectares of public and privately owned lands, currently tagged as no development zones (NDZ), to push low-cost housing and augment social amenities. About 2,100 hectares of it will go for affordable housing under the Development Plan 2034. An additional 300 hectares of salt pan land will also go for affordable homes. FSI levels in the Island City are raised up to 3, in the suburbs FSI is retained at 2.5 for residential projects. For commercial projects, the FSI has been raised up to 5. Anuj Puri, Chairman, ANAROCK Property Consultants commented, “The Government’s approval on the long-pending Mumbai DP 2034 is a welcome move. The DP is likely to spur real estate activity in the city and also pave the way for the development of much-needed affordable houses in Maximum City.”