The state cabinet last week has approved a proposal for modification of town planning norms. This could mean that the prices of lands of urban areas, specifically Mumbai Metropolitan Region could increase.
The state cabinet has modified the town planning norms in the last meeting of the cabinet. In order to ensure that there is uniform development, the Urban Development department has drafted a proposal through which land belonging to different people will be pooled together. Then a plan will be floated for “composite development”.
The new law will also limit the timeframe for implementing a TP scheme in a layout within 3.5 years of “declaration of intention” to develop the plot. The amendment of the Maharashtra Regional Town Planning Act, 1966 will enable sustainable and planned development in fringe areas, where urbanization is on the rise.
New norms have been introduced to increase participation of land owners in such schemes.