In a significant move aimed at ensuring the efficient and planned use of land resources across Maharashtra, the state cabinet chaired by Chief Minister Devendra Fadnavis on Wednesday approved a comprehensive policy for concept-based iconic city development.
Policy to Streamline Land Bank Utilisation
The newly approved policy is designed to facilitate the systematic development of land banks held by CIDCO and other state planning authorities. CIDCO currently allots land parcels through an auction-based lease system for various purposes, enabling lessees to undertake construction projects. However, project execution must comply with lease agreement terms and the Unified Development Control and Promotion Regulations (UDCPR) 2020.
Officials highlighted that several land parcels are presently held by multiple Construction and Development Operators (CDOs), making it difficult to implement integrated township projects. To address this challenge, CIDCO’s Board of Directors drafted a policy for concept-driven, iconic city development and submitted it to the state government for approval.
Transparent Selection of Developers
Under the new policy, authorities will be empowered to appoint CDOs through a transparent tendering process. These operators will receive development rights to build integrated residential townships or international-standard commercial districts. They will also be permitted to sell residential units and commercial properties within approved projects.
Time-Bound Execution and Clear Guidelines
A key feature of this policy is the emphasis on time-bound execution. Provisions include clearly defined responsibilities for CDOs, safeguards to ensure policy objectives are achieved, criteria for selecting iconic project concepts, guidelines for preliminary design plans, developer selection procedures, development framework requirements, land transfer protocols, revenue-sharing mechanisms, payment terms, and rules for project completion.
Boost to Planned Urban Growth
Officials said the policy will help streamline and accelerate planned urban development while ensuring optimal utilization of valuable state land assets. With this approval, Maharashtra aims to encourage high-quality, iconic urban projects that can transform major growth corridors and enhance the state's overall development landscape.
