State fi­nalises in­ter­na­tional busi­ness hub plan for BKC

Hindustan Times ST (Mumbai) - HT Navi Mumbai Live - - FRONT PAGE - Ke­taki Ghoge ■ ke­taki.ghoge@hin­dus­tan­times.com

MUM­BAI: An in­ter­na­tional ar­bi­tra­tion cen­tre, an iconic struc­ture along the lines of One Canada Square build­ing in Ca­nary Wharf, Lon­don, or Ma­rina Bay Sands in Sin­ga­pore, and an over­all floor space in­dex (FSI) of up to 6 or 7 — to al­low more sky­scrapers for com­mer­cial of­fices — is what the state has planned at the pro­posed In­ter­na­tional Fi­nance Cen­tre (IFC) spread across 50 acres at the Ban­draKurla Com­plex (BKC).

The long-pend­ing plan of an IFC in Mum­bai, based on its fi­nan­cial cap­i­tal sta­tus, is fi­nally gath­er­ing pace even as the pro­ject’s task force led by Union min­is­ter of state (MoS) for fi­nance, Jayant Sinha, is set to hold its first meet­ing in Mum­bai next week.

“We have done our home­work and things are now fall­ing in place. A pro­posal to no­tify the 50 acres at BKC as fi­nance SEZ has been sub­mit­ted to the min­istry of com­merce. While Mum­bai can’t ful­fil the req­ui­site con­di­tion of hav­ing 200 acres for SEZ, we have pro­posed to make up for the land crunch by of­fer­ing ver­ti­cal de­vel­op­ment. The min­istry has been pos­i­tive about our pro­posal and we ex­pect a nod soon,” said Poonam Ma­ha­jan, a BJP city MP and deputy chair­man of the IFC task force. “The FSI for this no­ti­fied area can be hiked up to 6 or even 7.”

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