Maharashtra Chief Minister Prithviraj Chavan on Tuesday, Jan 4, announced amendments in the Development Control Rules (DCR) of Mumbai; The Maharashtra Chamber of Housing Industry (MCHI) has welcomed the same. Paras Gundecha, President, MCHI said, “The amendments to the DCR of Mumbai are a step in the right direction. The Hon’ble Chief Minister’s initiative will be in the best interests of the citizens of Mumbai and more specifically, property buyers in Mumbai.”
Paras Gundecha added that the notification will not only establish a level playing field for the developer community, it will also reduce arbitrary decision making. “We expect this move to result in bringing about an element of certainty amongst the Home Buyers. It is expected to bring about stability in property prices,” he added.
The notified DC Rules will result in greater transparency, which will give a boost to organized development in the city of Mumbai, said Mr. Boman Irani, Hon. Secretary, MCHI. He further expressed his desire to see Commercial development being treated at par with or even made better vis-à-vis Residential Development facilities as this is the need of the hour.
Boman Irani also appreciated the efforts of the Chief Minister & the Municipal Commissioner in streamlining the processes in the form of rules that would ensure that the unscrupulous developers would get automatically eliminated out of the system.
