Commercial realty going vertical in Mumbai

    Commercial Realty in Mumbai
    The Municipal Corporation of Greater Mumbai has proposed amendments in the country's commercial capital and in case they get approval, the move may change the skyline of the metropolitan city by adding more high-rise buildings. The civic body has suggested that the minimum height for a building falling under the high-rise category be increased to 32 metres from 24 metres currently. Apart from this, an expert committee appointed by the state government has also recommended that the civic chief be made the sanctioning authority for buildings up to a height of 120 metres, or about 40 floors. Urban planning experts said these moves will help simplify and expedite approvals for real estate developments across the city. Commenting on the development, former president of the Practicing Engineers, Architects & Town Planners Association, Shirish Sukhatme, said that the decision will improve the redevelopment potential of several dilapidated buildings across Mumbai and will also help in making much-needed open spaces available and reduce corruption as it will reduce one layer of approvals. As of now, permissions for buildings up to 70 metres or 21 floors are sanctioned by the municipal commissioner, while developers are expected to seek approvals from the high-rise committee for any structure above this height. According to architects, approvals used to get delayed because the committee meets every three months and sometimes even after a gap of several months.
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