Media reports from ET Realty state that the Mumbai Metropolitan Region Development Authority (MMRDA) is looking to develop Oshiwara business zone on the lines of the Bandra-Kurla Complex (BKC).

According to MMRDA's commissioner UPS Madan, the Development plan 2034 has improved the Floor Space Index (FSI) ratio of permissible built-up area to the plot area in Oshiwara District Centre (ODC) for residential development to 3 times in exchange of premium. The FSI for commercial development was raised to 4 times from 1.5 times.

Madan reckons that this will be a well-planned development with demarcated areas for commercial, residential, retail, parks and education complex along with infrastructure. ODC has seen significant development including a railway station connecting both the western and the harbour railway lines along with the east-west connectivity through two flyovers helping in improving connectivity of this zone.

The proposed commercial, retail and entertainment zones will bring a distinct character to ODC, and state-of-the-art facilities; different from the earlier large business zones such as BKC and Nariman Point, he said.

He also believes that since the location is strategically located between the residential catchments of Andheri-Lokhandwala and Goregaon, this new business district is expected to generate 2.5 lakh jobs and will house around 20,000 residential apartments.

Source