Mumbai Government to Provide 10-Floor TDR for Redevelopment in Airport Funnel Zone

Introduction:

Government Initiative for Redevelopment

Chief Minister Eknath Shinde announced that the Mumbai government will provide Transfer of Development Rights (TDR) of up to 10 storeys for the redevelopment of buildings located in the airport funnel zone. Most buildings in this area are currently 3-4 storeys high, and the height restrictions have been a significant obstacle to redevelopment efforts.

Key Announcement Details

• Addressing Height Restrictions: Chief Minister Shinde stated that buildings located in the funnel zone face height restrictions due to their proximity to the airport.

To facilitate redevelopment, the government plans to provide TDR of up to 10 storeys.

This initiative aims to overcome the challenges posed by these restrictions and promote urban renewal.

Policy for Slum Structures Future Policy Plans:

The Chief Minister also mentioned that the state is planning a policy for slum structures that need to raise their height. This policy will address the specific needs of slum redevelopment and aim to improve living conditions in these areas.

Implications for Mumbai's Real Estate

• Facilitating Redevelopment: The provision of TDR up to 10 storeys will significantly impact the redevelopment of buildings in the airport funnel zone. This move is expected to encourage developers to invest in these areas, leading to the modernization and revitalization of the region.
• Addressing Slum Redevelopment: The planned policy for slum structures indicates the government's commitment to addressing urban housing challenges comprehensively. By allowing increased heights for slum redevelopment, the policy aims to provide better housing solutions for residents.

Key Facts and Figures

• TDR Provision: Up to 10 storeys for buildings in the airport funnel zone.
• Current Building Heights: Most buildings are 3-4 storeys high.
• Government's Objective: Facilitate redevelopment by overcoming height restrictions.
• Planned Policy: Address height increase for slum structures.