The Maharashtra state government has taken a significant step towards reshaping urban development in the state. In a crucial cabinet meeting held on Tuesday, the government approved a new 'Iconic City Development' policy.
This forward-thinking policy is designed specifically to ensure the optimal and efficient use of vast land parcels held by the City and Industrial Development Corporation (CIDCO) and other state authorities.
Addressing the Challenge of Fragmented Development
Under the existing system, CIDCO, which controls a massive land bank in the developing hub of Navi Mumbai, allocates land through lease auctions. The successful bidders then undertake construction projects independently.
While these developers must adhere to their lease agreements and the Unified Development Control and Incentives Regulations of 2020, a key problem has emerged. Officials noted that some large plots end up being controlled by multiple Construction and Development Operators (CDOs).
This fragmentation makes it nearly impossible to execute a unified, integrated vision for urban development, often leading to piecemeal projects that lack cohesive planning and world-class amenities.
A New Path for Integrated Urban Hubs
The newly approved policy directly tackles this issue by introducing a more streamlined and holistic approach. The cornerstone of this new framework is the appointment of a single CDO through a competitive bidding process.
This selected developer will be empowered to create large-scale, integrated residential townships and commercial zones that meet international standards. A crucial change is the grant of full development rights and the ability to sell residential and commercial units, providing greater flexibility and financial viability for the projects.
This move is expected to transform underutilized or fragmented land into concept-based iconic areas, potentially featuring state-of-the-art infrastructure, ample green spaces, and modern amenities.
Ensuring Timely Execution and Clear Guidelines
Recognizing that grand plans can falter without proper oversight, the policy also introduces robust accountability measures. It sets strict timelines for the completion of projects, ensuring that development does not stall indefinitely.
Furthermore, the cabinet decision includes detailed provisions covering every aspect of the process. These guidelines clearly outline the responsibilities of the CDO, the process for selecting development concepts, project planning protocols, land transfer mechanisms, revenue-sharing models, payment terms, and final project completion guidelines.
This comprehensive framework is designed to prevent delays and disputes, creating a transparent and efficient pathway from concept to reality for these new iconic developments in Maharashtra.
