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MAHADA - Economic Progress, Commercial Projects & Urban Development Ministry

The real estate sector got a crucial boost from the Maharashtra Government recently. Maharashtra Urban Development ministry has amended the Unified Development Control and Promotion Regulations (Unified DCPR) act that will now allow around 5 percent amenity space for construction in plots larger than 20,000 sq m.

Additionally, there will be an increased Floor Space Index (FSI) for Maharashtra Housing and Area Development Authority redevelopment projects and has granted additional FSI for commercial business districts (CBDs).

Shinde added that “The revised Unified DCPR will accelerate employment, promote economic progress and have a positive impact on the future of the industry,”. The real-estate sector is a significant economic engine tool and is considered the second-largest employment generation division after agriculture. Also, other industries like cement and steel are linked with the sector which will also get show improvement.