The much-awaited Development Plan (DP) 2034 by the Maharashtra government is finally here, paving the way for the space-starved city to have more land available to build homes and commercial spaces. The Mumbai DP 2034 has increased the FSI (Floor Space Index) which means developers can now build more on the given plot. More supply of homes coupled with Govt focus on infrastructure is going to be instrumental in changing the city’s skyline for a better tomorrow.
All you need to know about the DP Plan Mumbai 2034:
- The new Mumbai DP 2034 offers promising FSIs for commercial and residential properties. For commercial, it is raised up to 5 & for residential properties, the revised FSI is 3. Earlier it was 1.33 for both residential and commercial developments. For suburbs, new FSI will be up to 2.5 and 5 for residential and commercial properties, respectively. The existing FSI for the two categories is 2 and 2.5, respectively.
- The Mumbai Development Plan for 2034 intends to utilise salt pan lands for affordable housing. According to the plan, out of the 3,355 hectares in no-development zone, BMC has earmarked 2,100 hectares as well as 330 hectares of salt pan land for affordable housing.
- A provision has been made to add 42 hectares of open space. The DP plan Mumbai has also designated 12,859 hectares to natural spaces, a new category where no new construction will be allowed.
- The Mumbai Development Plan is all set to create approx. 1 million affordable houses and 8 million jobs in the city.
- The new plan encourages the growth to create parks, theatres, playgrounds, theme gardens and museums- something that the city desperately needs.
- For the first time, Mumbai’s Development Plan has placed the focus equally on commercial real estate with double benefits– firstly decongesting existing CBD areas and secondly, extending the ‘walk to work’ aspect in newer locations.
Post independence, this is the first time wherein a serious effort has been put up for the holistic development of the city.