CM takes steps to revive realty, offer better housing | mumbai | Hindustan Times
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CM takes steps to revive realty, offer better housing

mumbai Updated: Sep 22, 2012 01:34 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Chief Minister Prithviraj Chavan on Friday announced several measures aimed at reviving the property market, streamlining it and providing more and better housing to Mumbaiites.

The state will offer more floor space index (FSI) for developers constructing townships in Mumbai Metropolitan Region, it will review all the rules pertaining to redevelopment and push for a revamp of the city’s slums through cluster development.

Under cluster development, a particular area is handed over to a developer for planned development, which includes basic infrastructure.

The state is also looking at curtailing the powers of the high-rise panel, which clears the construction of buildings that propose to be taller than 70 metres.

Chavan’s announcement came three days after he met representatives of the real estate sector and discussed their problems.

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