In a significant move, the Maharashtra government has introduced micro-zoning, which could bring much-needed relief to property owners in Mumbai. This new zoning regulation is designed to address the unique needs of different neighborhoods and could lead to more equitable property rates.
MicrozoningProperty TaxMumbaiUrban PlanningProperty OwnersReal Estate MumbaiApr 05, 2025
Micro-zoning is an urban planning approach that involves dividing a city into smaller, more manageable zones based on specific characteristics such as population density, infrastructure, and economic activities. This allows for more tailored policies and regulations to address the unique needs of each area.
Micro-zoning could benefit property owners in Mumbai by creating a more equitable and transparent system of property tax assessment. Property taxes could be more closely aligned with the actual value and services provided in each zone, potentially leading to lower rates in underdeveloped areas and higher rates in well-developed areas.
Some potential challenges in implementing micro-zoning include the complexity and time required for the process, resistance from certain groups who feel they will be adversely affected, and the need for effective stakeholder engagement and data collection to make informed decisions about zoning regulations.
The government is taking steps such as conducting public consultations and outreach programs to gather input and feedback from stakeholders. They are also investing in data collection and analysis to make informed decisions about zoning regulations and to address concerns and challenges.
Micro-zoning contributes to urban planning in Mumbai by allowing the government to better allocate resources and implement targeted initiatives to improve living conditions. This can include investments in infrastructure, public transportation, and social services, leading to a more livable and sustainable urban environment.
Coworking firm BHIVE Workspace to expand its footprint by 3 million square feet over the next two years, targeting ₹350 crore in revenue during FY 2024-25.
The Museum of Memoirs is a unique architectural marvel that has been making waves in the real estate industry. Here's a look at what makes it special.
The government is considering revising the tax treatment of fixed deposits (FDs) to make them more attractive for investors, especially as equities have become a preferred choice.
Housing.com, the leading real estate app in India, is set to launch the 8th edition of its flagship online property event, Happy New Homes 2025 (HNH'25). This highly anticipated event will kick off soon, offering a plethora of new homes and exciting deals
The Economic Offenses Wing (EOW) has registered a First Information Report (FIR) against the directors of Everest Group for alleged cheating involving ₹96.7 crore in a real estate investment project. The fraud pertains to the redevelopment of a prime property in Mumbai.
Delhi Metro News: The Delhi Metro Golden Line, a 24-km section connecting Tughlakabad Station, is set to revolutionize real estate growth in key areas of Delhi.