The DP-DCR 2034 may have been delayed but presents a very progressive outlook to the way real estate business would get conducted over the next 15 years. It combines regulation with parameters of growth drawn out through empirical modelling that is bound to provide the requisite boosters to the market.
Taking EODB forward, the DP-DCR provides special powers to the MC to decide modalities & procedures of approval from an EODB perspective. The FSI benefits have been extended to ongoing projects as well. We welcome the increase in basic FSI for commercial development to 5 which will act as a catalyst for concerted commercial development in Mumbai , besides helping compete other cites of Asia as Financial Hub , thus increasing employment opportunities substantially.
The state has taken the bold decision to retain the 42 open spaces recommended by the standing committee to be deleted and should be commended for keeping SGNP and Aarey Colony out of reach of unscrupulous development. On the other hand, the state has infused additional land parcel for development; the land that falls under No Development Zone (NDZ) category, where the civic body can provide infrastructure, can now be utilised for the purpose of affordable housing as well as creating other amenities under the Special Development Zone (SDZ).
However, we are hopeful that the state/ Mcgm would address the issue of high premiums for additional FSI , if addressed well , can bring affordability , as other input ( cost cement , Steel etc )are already going up . Overall, it is a very balanced and growth oriented DP-DCR.