Mumbai, the financial capital of India, has unveiled its new Development Plan 2034, which seeks to drastically alter the city’s landscape. The proposal suggests raising the FSI, redeveloping aging housing societies, and opening up previously restricted land for affordable housing. It also aims to build the city’s waterfront and create millions of new job possibilities. However, questions have been raised regarding the plan’s potential to worsen flooding and congestion as well as its lack of solutions for traffic, pollution, and public transportation.
The state government ceremoniously unveiled the new Development Plan (DP) 2034 for Mumbai. Many upgrades have been made to the previous development plan of 1991. A large percentage of the population can be satisfied through its scale and scope. The Mumbai DP 2034 is a truly excellent document that, if properly implemented, has the power to alter Mumbai’s landscape. With the proper implementation, India’s financial hub might even compete with London or New York. Mumbai residents will need to wait and see what will be done to benefit from future prospects.
Let us look at some of the features of DP 2034
Unlocking Land Parcels
The Mumbai DP 2034 proposes making almost 3700 hectares of previously restricted land available. Originally, they had been categorized as salt pans or No Development Zones (NDZs). The construction of affordable housing complexes is now permitted on 2100 hectares of NDZs and 330 hectares of salt pans.
Emphasis on Affordable Housing
Mumbai is set to receive massive support for the prime minister’s top project, “Housing for All”. Previously unused land has been made available for fresh development. The government has proposed the construction of 1 million affordable homes. The fact that real estate developers now have opportunities to enter the affordable housing market is fantastic news.
Higher FSI
One of the most attractive features of Mumbai DP 2034 is the increased FSI. The term “FSI” refers to the value that is determined when homes are being built. It refers to the total area of a plot of land that can be used for construction. The more houses that can be built on a piece of land, the higher the FSI. Buyers also benefit greatly from it. If the FSI is higher, the developer will be able to offer homes to buyers for less money. A rise in FSI has been released under two categories: island cities and suburbs. The FSI for Island City residential projects has increased from 1.33 to 3. In the suburbs, it has increased from 2 to 2.5. The FSI of commercial properties increases from 2.5 to 5 in the island city and its suburbs.
Redevelopment Opportunity
The rise in FSI also significantly impacts revamping old and dilapidated housing societies. It provides chances to make money off the renovation of dilapidated towns and aging structures. Mumbai, which has more than 16,000 buildings but many of them are outdated and in poor condition, will benefit greatly from this. Following the renovation of older housing societies, the increase in FSI also entitles each flat owner to an additional room.
Improved Job Market
Up to 8 million new direct and indirect job opportunities could be generated in Mumbai as a result of the new development plan. Construction and real estate will account for the majority of job opportunities. There is more office space as a result of an improved FSI for commercial properties. It consequently draws more companies and employment to the city. In order to accommodate more workers, data centers are also given an additional height allowance of 6 meters.
Walk-to-Work Culture
The increase in FSI is helping commercial buildings. This encourages the growth of additional central business districts (CBDs) throughout the city. This decongestants existing CBDs and promotes a walk-to-work culture in various Mumbai neighborhoods. This will enable Mumbai residents to enjoy a better and more sedentary lifestyle.
Mumbai Waterfront Development
According to the Mumbai DP 2034, a public-private partnership will develop 120 hectares of Eastern Waterfront. This will boost Mumbai’s development of stunning waterfronts and increase the amount of open space per capita. In actuality, the city has long aspired to this. Mumbai has the potential to develop retail, commercial, entertainment, and hospitality projects akin to Canary Wharf, the redeveloped business district in London.
Greener City
Like other significant cities throughout the nation, Mumbai struggles with air pollution and deteriorating environmental conditions. Congestion and crowded areas are additional issues that persist constantly. In the development plan, it is proposed to build more parks, playgrounds, and themed gardens throughout the city.
About 12,859 hectares of natural spaces exist, and new construction is not permitted. Parks and other green areas dot the city, where locals can now find solace.
More Public Amenities
The current development plan calls for the construction of old-age homes, museums, theaters, and homeless shelters. There will be two large parking areas, each 300 acres, built in Cuffe Parade and Bombay Port Trust. The residents of Mumbai are eager for it to open up because the city has long needed such parking areas.
DP 2034: The Issues
The development plan has drawn praise from various people for its many advantages. But some crucial elements also appear to have been overlooked. No plans have been listed for addressing increasing traffic, rising pollution levels, and a shortage of public transport. The release of salt pans for development purposes has alarmed activists. This might make the city’s already dire flood situation worse.
Although the previous development plan from 1991 was also optimistic, the government only succeeded in carrying out 20% of the suggested activities. It is uncertain whether Mumbai DP 2034 will have a similar outcome.
Despite all of its benefits, an elevated FSI may also result in crowding and more city congestion. This might negate any advantages that the city’s parks and green areas might have.
Mumbai DP 2034- People frequently assume that a rise in FSI and the availability of more land will directly result in lower real estate costs. This will, however, largely depend on the government’s decision to charge developers a premium for the FSI. This will ultimately be passed on to the buyers.
The general public, civic organizations, and activists still have 60 days to suggest changes. It is not unusual for amendments to be made based on user input. If the development plan is successfully carried out, one can hope for an improvement in the quality of life for all Mumbai residents.