Mumbai: Mumbai’s new development plan may give the maximum city a better chance at checking the increasing congestion on its roads, according to a report released last Thursday.
The city’s previous urban development policies and plans contributed to congestion on Mumbai roads, instead of resolving it, noted the report from global real estate consultancy firm Knight Frank drafted in consultation with housing activist Chandrashekar Prabhu.
Extolling the benefits of linking floor space index (FSI) with road width, the report has firmly endorsed the inclusion of a provision to this effect in the Development Control Promotion and Regulation (DCPR) 2034. The regulation, recently finalised, grants higher FSI for commercial offices, as compared to residential, only if the road width is more than 12 metres.
The report titled ‘DCPR 2034 – Deciphering Mumbai’s Future’, also welcomes the decision to adopt the carpet area definition of the Real Estate Regulation And Development Act, 2016, instead of the Maharashtra Ownership Of Flats Act of 1963, which lays down a different definition. The uniformity in norms with the recent real estate regulation law will make it easier for home-buyers, the report noted.
Hits and misses
On the slum rehabilitation front, the report said only one lakh slums have been rehabilitated in the last 20 years. Since the DCPR 2034 follows the same norms, the dismal rate of rehabilitation is expected to continue.
Reducing the irrevocable consent required for redevelopment of cessed and Maharashtra Housing And Area Development Authority buildings — from 70% to 51% — will not help much, the report warned. The reason behind stalled projects under this redevelopment scheme are diverse and easing consent norms alone won’t do, it said.
Under the new policy, additional FSI can be bought by paying an FSI premium and through an increase in the transfer of development rights (TDR). This would ensure more revenue for the municipal corporation and spur demand for the TDR. Increased demand for the TDR would also mean more land will be available for road widening and slum rehabilitation.
Further, the TDR generated for land surrendered to the BMC due to the reservation on the plot has been increased, and provides an incentive to expedite slum rehabilitation and surrender reserved plots.
Shishir Baijal, chairman and managing director, Knight Frank India, said, “The policy provides clarity and focus for future development of Mumbai. The developer community can now progress with confidence. On the residential front, measures such as opening up of land for promoting affordable housing and unification of carpet area definition will help home-buyers. We are optimistic DCPR 2034 will have far-reaching implications on Mumbai’s growth over the next two decades.”