The government will adopt a transit-oriented development model for the area around the metro, here’s what TOD means
The government plans to exploit the redevelopment of residential or commercial spaces around the metro to not only transform the area, but also consider the possibility of generating long-term income. The Mumbai Metropolitan Area Development Authority (MMRDA) has requested the state government to come up with a project called Transit Oriented Development (TOD) on Andheri (E)-Dahisar (E) Metro Metro-7 which will be partially opened with half of DN Nagar-Dahisar Metro-2A. It comes at a time when a 1% Metro Cess is likely to be applicable on any property purchased from April 1.
This means there will be holistic development with growth centers around the metro and become a hub for multiple modes of transport, but it will also help the planning body for Mumbai and its metropolitan area to generate revenue. Through TOD, land prices next to and around metro stations for commercial and residential construction will attract high rates and floor space index (FSI) and thus the government could indirectly obtain higher returns.
According to sources, there are many old and newer buildings near the subway corridor, which are under construction or planned for redevelopment. A fully planned TOD can not only make it easier for people to move around, but also harness higher monetary returns through revenue models, as people will be willing to pay more for those properties closer to metro lines.
The radius of the Metro-7 line on which this development charge has been proposed is undecided although it may be 200 to 250 meters. MMRDA officials say the government could decide how much of the revenue generated by TOD can go to MMRDA to fund future projects under the non-tariff revenue category.
“We have written a letter to the Maharashtra government asking them to implement TOD, initially on the Metro-7 corridor. There are several buildings that need to be redeveloped and we could definitely consider a holistic development with good returns,” a senior MMRDA official said.
The detail of how this will all work is being worked out. Authorities say developers sell their properties by advertising the distance between the proposed building and the subway line, which then inflates property prices.
It will also align multi-modal integration through seamless travel, provide adequate sidewalks, cycle lanes, bus drop-off/pick-up docks, service modes, cars/taxis, vehicles buildings, landscaping and embellishment of station areas with urban street furniture, lighting, signage, etc. in the area of influence of metro stations. MMRDA offered TOD at 30 stations on Metro Line 2A (Andheri W-Dahisar) along Link Road and 7 (Dahisar E–Gundavli) along Western Express Highway.
What is Transit Oriented Development (TOD)?
It integrates land use and transport planning and aims to develop centers of planned sustainable urban growth, having walkable and liveable communities with high-density mixed land use. Citizens have access to open green and public spaces and, at the same time, public transport facilities are used efficiently.
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Posted: Wednesday March 16th 2022, 06:00 IST