Mumbai: The Mumbai Metropolitan Region Development Authority (MMRDA) has raised the need to construct an International Financial Centre (IFC) for development of Bandra Kurla Complex (BKC) as a business centre. The plan is to house the finance offices there and develop it.
The MMRDA is the Special Planning Authority for Bandra-Kurla Complex (BKC) Notified Area. The authority owns lands in E and G block and it being followed as per the provisions of MMRDA (Land Disposal) Regulations, 1977 and the sanctioned development plan of BKC. The lands are leased for 80 years as per the provisions of the said Act.
“The development in E block of BKC is almost complete. We have prepared the concept plan and urban design guidelines for International Finance and Business Centre (IFBC) in G-Block and BKC area with the design assistance of renowned Architect B.V.Doshi, and Chief of Vastushilpa Foundation,” added an MMRDA official.
The land parcel at the north of 45 Meters road in BKC, namely as G-Text Block has been found appropriate for the development of IFSC. “G Text Block area is earmarked for Commercial Use. After deducting the previously allocated commercial land parcels, Recreational Gardens, Roads and Public Services from this block, at least 30 Hectares of Commercial Land is available for development of IFSC along with another about 20 Hectares of green area,” added the official.
The IFC spread over an area of about 50 hectares in BKC. The FSI for the area is 4 and the permissible height for the G-Text Block, as per the Civil Aviation Authority is between 51.75 meters to 61.45 meters. “The proposed IFSC location is accessible from 45 meters and 30 meters wide road in BKC. It is also connected on the west by the Western Express Highway (WEH) and on the East by Santacruz-Chembur Link Road (SCLR). The area is proposed to be connected to the International Airport with an elevated 30 meter wide road from the Mumbai University Land and would be connected to the Eastern Express Highway (EEH) through SCLR,”
The officials are in the process of preparing a master plan for the entire area for the task force to overlook it. The master plan would include land use and other urban design guidelines given by the government.
The duty of the taskforce is to plan and oversee the development of designated area as an IFC. “The task force would coordinate with Government of India on various aspects related to regulations for IFC. The force would take decisions on all aspects associated with development of IFSC and issue directives to various State and Central departments,” added the official.