Fadnavis plans mega biz hub to boost city’s image

In a bid to help Mumbai and the Mumbai Metropolitan Region (MMR) regain the top spot as the country's premier growth centre, chief minister
Devendra Fadnavis has plans to expand the financial capital to the north, with a third mega business district along the lines of Nariman Point and Bandra-Kurla Complex (BKC) to be set up near the proposed international airport at Panvel.

The state is also keen to revitalise Mumbai's existing central business district at Nariman Point and BKC, besides creating three new hubs at Lower Parel, Andheri(West) and Wadala and some along the proposed Virar-Alibaug multimodal corridor.While Lower Parel is beingproposed as a financial hub,Andheri (West) will be the IT hub.

Fadnavis wants to utilise thepotential of the 4,355-sq-km MMR region to the fullest, as in the pastfive years, t as lost out to theNational Capital Region (NCR).According to the 2011 census,NCR is the largest urban agglomerationin the country, overtaking MMR, hich was tipped tobe second only to Tokyo in 2005.Several corporate houses andMNCs that have come to Indiain the past couple of years havepreferred o et up their basesin NCR . a phenomenon that was associated with Mumbaifor long.Some of the reasons for thiswere the steep real estate pricesin Mumbai, the overburdened infrastructure and lack of easein doing business.

Also, the much-talked about Mumbai makeover project,which was aimed to extend thefinancial capital to MMR, didnot take off. Fadnavis has nowdecided to give the project a bigpush, and in a systematic way.Spread across nearly 600 qkm, which is almost one-and-a-half times the size of Mumbaicity, the Navi Mumbai Airport Influence Notified Area (NAINA)will be developed from as a ewfinancial hub.

The interim developmentplan of NAINA, which is spreadacross 37 sq km, will be submittedto the state government forapproval in March. ifteen percent of this land will be reservedfor commercial and businesscentres.The mega finance hub hasbeen proposed in Phase I of theproject, spread cross 8,000 hectares.NAINA has two nationalhighways (NH-4 and NH-17)besides state highways and theMumbai-Pune Expressway intersectingit. It will be onnectedto the airport, Navi Mumbaiairport and suburban railway corridors.

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MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.

Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.