The policy will cover all development projects to be implemented by the Navnagar Development Authority, appointed for the influence area of the Atal Bihari Vajpayee Shivdi-Nhava Sheva Atal Setu, and by the Mumbai Metropolitan Region Development Authority (MMRDA).Officials said this decision will provide a concrete direction for planned urbanisation, industrial investment, logistics hubs, residential-commercial projects, and infrastructure development in the Atal Setu impact area. Also, under Section 126(10), provision was made for land acquisition by paying compensation in the form of Floor Area Index (FSI) or Transferable Development Rights (TDR) instead of cash compensation, and additional FSI/TDR for facilities/construction works as per the requirement," an official explained.Under the new policy, a 22.5% land refund will be implemented. Up to 25% of the total developed area will be allowed for FDI projects, subject to eligibility criteria and conditions laid down by MMRDA.MMRDA has been directed to prepare detailed land allotment guidelines as per this policy and submit them to the government for approval.
Author: Chaitanya Marpakwar
Published at: 2026-02-10 21:02:00
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