IMC welcomes repeal of ULCRA by Maharashtra

Mr Niraj Bajaj, President IMC, expressed IMC’s happiness at Maharashtra scrapping its three-decade-old Urban Land (Ceiling and Regulation) Act. This law had artificially kept land becoming available for development. Maharashtra was one of the few stragglers among Indian States that had not repealed the Act despite Centre’s repeated pleas to the effect.

IMC has represented many times to the Maharashtra Govt. to repeal the Act as it was vitiating the housing and real estate scenario of the country, completely opposite to what was initially intended. According to our Chief Minister, Vilasrao Deshmukh, the Act’s repeal could free up some 1,234 acres of land available for development in Mumbai alone. Pune, Nashik and Nagpur will also benefit from the move.