Urban Fold

More Land Freed Up For Development Around Mumbai

In response to sharply rising real estate prices around Mumbai, the Maharashtra state government has eased restrictions on land ownership and development, creating more supply to meet the growing demand.

"The state assembly Thursday repealed the Urban Land (Ceiling & Regulation) Act, government officials said."

"'This is a revolution as far as Maharashtra is concerned. It will see a paradigm shift in the availability of land, and about 5,000 acres will be freed up in the next six months,' said Niranjan Hiranandani, co-founder of Hiranandani Construction."

"'You will see an affordability segments that we don't see today. There will be a benefit to the common man more than companies in these places. Construction is likely to boom too,' he [Niranjan] said"

"Communist leaders opposed wiping the act off the books, saying freeing up land for private development will benefit only builders, not the common man."

"'The challenge is that land which is freed through the act should be put to development. Often, there are encroachments that take time to clear, and the approval process is slow. Sometimes developers release supply on a calibrated basis to ensure prices don't correct,' pointed out Jai Mavani, head of the real estate practice at KPMG."

Full Story: Land Restrictions Around Mumbai Are Scrapped


Build Your Own Paper Block City

Urban Fold is an all-inclusive kit that allows anyone to build the city of their dreams with a few simple folds.
building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.

NEW! Get the "Green Bible"

Understand the complexities of planning at the local level while preparing for the AICP* exam. Find out why this edition is included in the APA's recommended reading list.
AICP CTP Storefont Display

The first online AICP* CTP exam prep class

Are you ready to take the AICP* Certified Transportation Planner exam?
Priced at $245 for May exam!