Maharashtra govt sanctions Mumbai Development Control and Promotion Regulations 2034; issues corrigendum

Maharashtra government has sanctioned the Mumbai Development Control and Promotion Regulations 2034 (DCPR) by issuing a corrigendum.

The Excluded Part (EP) of Mumbai’s new development control regulations (DCR 2034) was to come into force from October 24. Its implementation was postponed to November 13.

“...And whereas it is noticed that there are some typographical errors and mistakes, in the notification sanctioning the EP and also the commissioner, municipal corporation of Greater Mumbai vide his letter dated 6/11/ 2018 has pointed out certain additional errors and mistakes and therefore to rectify such mistakes and to clarify and co-relate certain provisions of sanctioned DCPR for its proper interpretation, government feels it is necessary to issue a corrigendum for the same,” the document says.

Real estate experts have welcomed the move.

"It was much awaited and the consideration of the citizens and the objections that were raised by the various property owners would have been addressed to the extent possible. Going forward this is fantastic.  The city is going to develop with this new master plan that has been incorporated. The density has improved and it is very constructive in its nature and it is forward looking and progressive master plan and most of the stakeholders are satisfied with this plan," said Anuj Puri, chairman, ANAROCK Property Consultants.

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The implementation of DP 2034 is a positive step. The previous situation, where more stringent provisions of the two DPs was to apply, meant new constructions had practically ground to a halt. This decision is welcome because now, work at on-going projects will restart. It augurs well for home seekers as also the industry, NAREDCO welcomes this, said Niranjan Hiranandani, co-founder and MD, Hiranandani Group and president (National), NAREDCO.

The Mumbai 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.

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.

Under the new Development Plan, over 3,000 hectares of land would be available for building affordable houses after unlocking the NDZ land. 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. Salt pan lands are those where large water bodies have dried up over years, leaving behind salt and other minerals.

vandana.ramnani@nw18.com