Mumbai: The state cabinet on Tuesday approved a comprehensive land acquisition and allotment policy for the proposed Third Mumbai project, which is coming up in the influence area of the Mumbai Trans Harbour Link, also known as Atal Setu. 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.“Under Section 126(1) of the Maharashtra Regional Planning and Town Planning Act, 1966, land acquisition was approved by fixing compensation for an amount decided by mutual consent through an agreement or as per the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013. 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. While acquiring privately owned land through negotiation, a policy of providing developed plots to project-affected people will be implemented. Under the 22.5% refund scheme, if the area of the plot payable is less than 40 sq m, cash compensation will be given.“The pass-through policy was approved to bring industries to undeveloped areas,” said officials. “Under this policy, the cost of land acquisition compensation and infrastructure development will be recovered from plot holders in instalments. The full cost of land acquisition, registration fee, and establishment fee will be borne by the allottee, with MMRDA levying a 15% establishment charge. MMRDA will not provide infrastructure in such areas and land will be allotted to the eligible project unit on an ‘as-is-where-is’ basis. If additional compensation is required in the future, it will be recovered from the plot holder. An agreement will be signed between MMRDA and the plot holder based on these conditions.”To attract foreign direct investment (FDI), plots will be allotted on priority to industries bringing FDI in the Atal Setu impact zone, in line with the MIDC policy. Such investors must acquire a minimum of 100 acres of land and, in addition to the cost of the land, invest at least Rs 250 crore per 100 acres within four years, excluding land cost, the officials said. Sale or transfer of undeveloped land will not be permitted. 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. It has also been instructed to present an efficient revenue model that will generate maximum revenue for the government and MMRDA through infrastructure development.
