- To ensure planned development through inclusiveness, sustainability, and transparency in all aspects.
- To encourage smooth and efficient private investment in Real Estate Development.
- To create new livelihood and employment opportunities.
- To meet the needs of affordable housing.
- To meet socio-economic and infrastructure demands of the state.
- To encourage public private partnerships through land pooling.
Eligibility
Township can be developed by “Developer” which includes:-
(i) Any person/ association of person;
(ii) Any legal entity including private developer, sole proprietor;
(iii) Consortium or Joint venture of landowners, private developers, firms, etc.;
(iv) Any public agency of state or central government.
Developer shall require to be registered with competent authority under rules prepared for implementation of this policy.
Financial Eligibility of Developer:- For development of Township, financial parameters for the Developer shall be as prescribed below
Sr. No. | Land Area (in Hectares) | Minimum Net Worth (₹ in Crores) | Minimum Average Annual Turnover (Last 5 Years) (₹ in Crores) |
1 | Above 10 and up to 20 | 5 | 6 |
2 | Above 20 and up to 40 | 10 | 12 |
3 | Above 40 and up to 100 | 20 | 20 |
4 | Above 100 and up to 300 | 50 | 40 |
5 | Above 300 | 250 | 200 |
Incentives Overview:
- TDR Benefits (6.6.1): Developers can avail Transferable Development Rights (TDR) if the township lies in TDR receiving zones.
- Ceiling Limit Exemption (6.6.2): No landholding ceiling applies; land will be reassessed under Section 59 of the MP Land Revenue Code, 1959, exempting it from the 1960 Ceiling Act.
- Colony Rules Relaxation (6.6.3): Relevant colony development rules will be amended to facilitate the policy.
- Development Plan Modification (6.6.4): Developers may get concessions in development plans; empowered committee can approve modifications under Section 23 of MP Nagar Tatha Gram Nivesh Adhiniyam, 1973.
- Green FAR (6.6.5): Extra FAR granted for developing wooded areas over 0.4 hectares beyond the required minimum.
- FAR for Renewable Energy (6.6.6): Additional FAR for projects using renewable energy sources and green buildings.
- FAR for Affordable Housing (6.6.7): Extra FAR for building additional EWS/LIG/affordable units up to 30% of general housing stock.
