Principal Secretary of Urban Development Department Bhushan Gagrani said, “Prior to my taking over, Praveen Pardeshi had cleared nearly 150 proposals and I have cleared nearly 750 of them. I will be submitting them to the government for final nod. The entire thing will be cleared by October.”
The DP was formulated by then municipal commissioner Ajoy Mehta, then UD secretary Nitin Kareer and then additional chief secretary to CM Praveen Pardeshi. The plan is being implemented by BMC.
The state government had sanctioned the Mumbai Development Control and Promotion Regulations 2034 (DCPR) in 2018. The Development Plan 2034 seeks to open up 3,700 hectares of land that was earlier designated as no-development zone (NDZ) for construction of residential real estate and homebuyers can expect housing units of 30 sq m to be available in the range of Rs 60 lakh to Rs 75 lakh. Apart from this land, an additional 300 hectares of salt pan land will also be available for affordable housing. About 10 lakh affordable houses will be built on these lands by 2034.
Experts say that going forward, with more housing stock getting added in the affordable category, prices may correct by 10 to 15 per cent but this is possible only if the increased Floor Space Index (FSI), promised under the blueprint for the city’s development for the next 16 years, is available at rational prices and not at a premium.
Builder Niranjan Hiranandani welcomed the move, saying, “This has been pending since a long time. It’s good that the EP is being cleared now. It will help development of Mumbai.”