CZMP Approval Means More Sea-facing Homes
Approval for Coastal Zone Management Plan (CZMP) to boost housing in Mumbai, create more homes with a view of the sea.
The Ministry for Environment, Forest and Climate Change has approved the Coastal Zone Management Plan (CZMP) for Mumbai and its suburbs. The much-awaited nod is expected to boost real estate development in the coastline of Mumbai city and suburbs.
The approval was announced formally by National Coastal Zone Management Authority (NCZMA) at its 43rd meeting on August 16 earlier this year. The authority recommended the CZMPs of Mumbai City and Mumbai suburban for approval in accordance with the CRZ Notification of 2019. The CRZ or Coastal Regulatory Zone came into being in 1991 to govern human and industrial activities along the coastline.
However well-intentioned, CRZ was creating hurdles for real estate development and beach tourism across India’s western coast. In December 2018, the Central government separated FSI from CRZ rules through a CRZ notification in 2019, easing norms to address some of the concerns. The government of Maharashtra has urged the Centre to expedite the process of CZMP as per the 2019 CRZ notification.
According to the CZMP in its current form, development on plots within 500m of the coast and 150m from a bay were allowed only 1.33 FSI (Floor Space Index) in the island city and 1 in the suburbs. Developers with plots near the sea will now be entitled to 2.5 times the FSI.
In addition to boosting new projects near the coastline, the decision will also pave the way for the rehabilitation and redevelopment of eligible housing societies and slums, which are now entitled FSI that equals the rest of Mumbai.
As Mumbaikars prepare for the possibility of moving into a new home with a view of the majestic seas that surround Mumbai and its suburbs, we present you the opportunity to book a home at some of the city’s finest upcoming homes with a view.
Look forward to the perfect home by the sea at One Marina at Marine Lines by Sheth Creators. Residents of these premium homes will get a postcard view of the Arabian Sea, Queen’s Necklace and South Mumbai’s iconic buildings from a majestic tower that will come to be recognised as a new landmark in the neighbourhood.
Meanwhile, in suburban Mumbai, Lodha Codename Limited Edition will bring some of the finest residential amenities and the tallest towers ever seen in Mulund East, overlooking the Airoli Creek on one side and Thane’s Yeoor Hills on the other making each apartment truly a home with a view.
What's Your Reaction?
