Developers' body wants amends in Mumbai's Development Plan 2034

While most part of the Mumbai's Development plan including that of the development control rules are in place, the authorities have called for suggestion and objections for the excluded plan (schedule B).

Developers have said that the whole DP needs to be notified for major development projects to progress and the process needs to be quickened.

"For a plan submission, one needs hundred per cent clarity. If one submits the plan today and if the Excluded portion goes against the plan, it is very risky. As a chamber, we have decided to submit all our suggestions on the 160 parts of the excluded portions within 15-days," said Mayur Shah, President, CREDAI-MCHI an apex real estate body in the city and Mumbai Metropolitan Region.

The developers body has also sought two more amendments. The new DP has asked every developer using the Transfer of Development Rights (TDR) to have 20 per cent of every TDR which is generated via slum redevelopment. They feel that the problem arises as the slum TDR is scarce, hence, it needs to change.

The other suggestion from the developers community is that they be charged 50 per cent of the existing premium cost for the FSI. "Currently a developer for residential pays 60 per cent of the ready reckoner cost for the premium FSI that he uses in a project, this is too high for a developer to afford in most cases," added Shah.