In a move that would significantly impact construction activities in the state, the Maharashtra government, led by chief minister Uddhav Thackeray, on June 17, 2021, approved amendments to its Unified Development Control and Promotion Regulations (Unified DCPR).
The primary objective of the more relaxed rules, under which the state will allow 5% amenity space above 20,000 sq metres area, three carpet area index (FSI) for MHADA redevelopment instead of 2.5 and up to five FSI for commercial business district expansion to accelerate employment, is to make more affordable housing available, to boost the real estate sector and to keep the economy functioning smoothly. Relevant changes have been made to Section 37 (2) of the Unified DPCR, to effectuate the new norms.
According to state Urban Development minister Eknath Shinde, by supporting the property market across Maharashtra, the move will boost the state’s economy, which is currently reeling under the impact of the second wave of the Coronavirus pandemic.
Since the housing sector in Maharashtra supports over 200 small and medium-sized companies, its revival was crucial, for the overall economy to show positive growth. The minister also said that these amendments to the Unified DCPR would provide momentum to MHADA (Maharashtra Housing and Area Development Authority) redevelopment projects and increase the housing stock, while keeping house prices in check, in a state whose capital is one of the most expensive housing markets in the world. “This decision will accelerate the growth of commercial business zones, as well as industry and employment sectors,” he said.
See also: Mumbai DCPR 2034: Can it solve Mumbai’s real estate problems?
Recall here that the Unified DCPR was implemented across the state, except Mumbai in December 2020. The rules, put in place keeping in mind all aspects of infrastructure and real-estate development in the notified urban areas of the state, are likely to usher in a new wave of development in cities like Thane, Navi Mumbaiand Kalyan-Dombivali.
Check out : Read about Maharashtra Mahadbt schoolarship programme
An alumna of the Indian Institute of Mass Communication, Dhenkanal, Sunita Mishra brings over 16 years of expertise to the fields of legal matters, financial insights, and property market trends. Recognised for her ability to elucidate complex topics, her articles serve as a go-to resource for home buyers navigating intricate subjects. Through her extensive career, she has been associated with esteemed organisations like the Financial Express, Hindustan Times, Network18, All India Radio, and Business Standard.
In addition to her professional accomplishments, Sunita holds an MA degree in Sanskrit, with a specialisation in Indian Philosophy, from Delhi University. Outside of her work schedule, she likes to unwind by practising Yoga, and pursues her passion for travel.
[email protected]