The government has authorized the new Re-densification Policy 2022 for residential and high-end commercial projects at some prime government locations. Re-densification is an integral part of a city’s planning. Under it, all vacant areas will now be incorporated in the overall growth plan.
As part of the policy, 30% of the excessive vacant land in a vast property is given to the builders and developers at a fixed rate while construction is carried out on the remaining 70% land. This strategy results in new shopping complexes, government buildings and residential units. The survey for the same is being carried out in various districts of the state. This process will calculate vacant spaces available that can be put to judicious use.
This move is expected to lead to a robust growth in real estate. Indore and Bhopal may witness a surge in new and high-end commercial projects on government land, which had otherwise been lying vacant said Vipul Agrawal , MD SAA
The revenue generated from these projects could be used to carry out various development works, thereby making it a thoroughly beneficial situation for all parties concerned. It would also jump-start the infrastructure enhancement projects in the district.
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