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What is Maharashtra Repeals Urban Land Ceiling Act about?

The Maharashtra government repealed the three-decade-old Urban Land Ceiling and Regulation Act (ULCRA) which could free up 500 hectares of land for development. The repeal is expected to boost affordable housing in Mumbai suburbs and stabilize rising property prices over the next 3-5 years. Developers will save costs by not having to get permissions under the previous ULCRA and may pass on savings to consumers. Industry experts predict at least 10 times more affordable housing projects in Mumbai suburbs and

Author

Anuradha Rathod

Language

EN