Implementing the entire development plan 2014-2034 will cost the civic body a total of Rs 14 lakh crore; BMC aims to generate this whopping sum through premiums, public-private partnerships and budgetary allocations
Let’s be clear about this. The revised draft Development Plan (DP) 2014-2034 is not going to be easy on the pockets. Its implementation will cost the BMC a whopping Rs 14 lakh-crore.
BMC needs to acquire 19.17 million sq m for open spaces and cemeteries
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The estimate is based on the cost of acquisition of land for various reservations, road widening, road construction and building construction. The creation of open spaces alone is going to cost R6,000 crore.
The civic body aims at generating the large sum of money through premiums, public-private partnerships and budgetary allocations.
A DP is the most important planning document for a city and is a blueprint that governs the development of real estate. The BMC is in the process of finalising the revised draft, which will be made available on its website this week.
Citizens will be given two months to offer suggestions on the draft DP.
DPs have been a sore point with the BMC. Previous DPs were not fully implemented due to several constraints, one of them being money. The DPs reserved large plots of land for amenities and open spaces, but since the BMC had neither the money nor a sound TDR policy, many of these plots were never acquired. Just 36% of the 1967 DP and 33% of the 1991 DP were implemented.
The BMC benefits from a DP through ‘DP receipts’. These include development charges, premium charges and fungible FSI. In 2014-15, the civic body earned Rs 5,000 crore through DP receipts, while it earned R4,732 crore in 2015-16. The revenue generated through a DP is second only to octroi.
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