In a major boost to real estate in Navi Mumbai, the State Urban Development (UD) department has announced a slew of measures to resolve long-pending demands of the residents and developers of Navi Mumbai under ‘Navi Mumbai Housing Revival Programme (NHRP).
UD minister Eknath Shinde has said that the measures have been taken to provide immediate relief to thousands of homebuyers and more than 400 affected projects in the Navi Mumbai region.
Shinde said, “There were problems faced by the developers due to restrictions imposed on the heights of buildings within 20km area of the proposed Navi Mumbai International Airport after cancellation of the Colour Coded Zonal Map (CCZM). CIDCO has been following up with the central environment ministry on the issue. I myself will be writing to the ministry to allow building heights as per earlier CCZM.”
One of the main demands has been clearance for 94 projects whose occupation certificates (OC) are stuck due to CRZ issues. Shinde said, “The issue has been taken up with the central environment ministry to approve Navi Mumbai Coastal Zone Management Plan 2019 at the earliest. We are confident of getting MCZMA permission in a month following which OCs will be issued.”
Steps are being taken to resolve long-pending additional lease premium (ALP) (Maveja) reduction demand for which personnel are being increased, the minister added. This will make available 500ha land in CIDCO jurisdiction that will then be distributed under the 12.50% scheme to Navi Mumbai PAPS.
According to Shinde, “In a relief for the developers, we will now allow them to pay infrastructure charges under a tripartite scheme for 22.50% in four instalments instead of one time as earlier. Additional FSI construction will now get up to four years’ extension. One application will be enough to get an extension of up to three years. No ALP is being charged for nine months of Covid pandemic. Those developers who have paid it already can have it adjusted against later such payments.”
Sanjay Mukherjee, vice-chairman and managing director, CIDCO, claimed that these decisions shall go a long way towards achieving a sustainable and greener Navi Mumbai region. “They will give a boost to the ailing real estate market and give it a new life. We are also hoping that the developers shall pass the benefit to the ultimate homebuyer, thereby fulfilling our commitment towards the welfare of the common man and the last citizen.”
Boman Irani, president, CREDAI-MCHI, said, “The issues resolved by the UD ministry will help Navi Mumbai developers to execute their projects seamlessly and reduce the ongoing financial burden caused due to rising input costs and increase in repo rate last week. Thousands of homebuyers who were not getting possession of their flats due to the CRZ issue will also get immediate relief.”
Raajesh Prajapati, task owner, CREDAI-MCHI for CIDCO and local developer, said, “Thousands of homebuyers in Navi Mumbai who were getting anxious will now breathe a sigh of relief as multiple stuck properties would now get clearance. This will also help in seamless execution of new projects in the immediate future. Also, hundreds of small developers whose affordable projects were severely hit due to ALP issues will get relief in the medium term.”