Navi Mumbai: Hiked FSI, incentives on offer for development of Mahape jewellery park

An increased Floor Space Index (FSI) between 5 and 7 is on offer for the development of India Jewellery Park at Mahape, Navi Mumbai, its planning authority Maharashtra Industrial Development Corporation (MIDC) has said.

The proposed India Jewellery Park will be the first of its kind integrated industrial park comprising manufacturing units, commercial areas, residences for industrial workers, and support services. On the anvil are also high rise structures in the area.

However, the plan of construction is yet to be finalised by the Gems and Jewellery Export Promotion Council (GJEPC), said Abhijit Ghorpade, general manager (marketing). The MIDC has signed the lease agreement with an upfront payment of Rs 13,800 crore for a period of 95 years with the GJEPC for this proposed park.

According to the MIDC, the amount has already been received and now it will expedite with permission. MIDC CEO Dr P Anbalagan has assured to provide full support for early completion of this project. Moreover, for carrying out a project of this scale that has the potential to attract investors and employment opportunities, the MIDC is keen to offer concessions and added incentives in stamp duty, water and power tariff.

The jewellery park will possibly house more than 1,000 gems and jewellery units on the sprawling 21.3- acre plot of land in Mahape. Sources said it will be one of the iconic projects with state-of-the-art architecture and facilities. With its development, a potential investment of over Rs 20,000 crore is expected, creating employment opportunities for over 1 lakh workers.