The state government has issued a notification unlocking over 1,800 hectare of land in Navi Mumbai for residential and industrial purposes. This land was acquired for Special Economic Zones (SEZ) in 2013, and is located in Ulve, Dronagiri and Kamothe in Navi Mumbai.

According to the state government's notification, the government has now amended the SEZ industrial policy accomodating 85 per cent of the land for industrial use and 15 per cent for residential instead of the earlier 60 per cent for industrial and 40 per cent for residential purpose.

"It is mandatory to develop 85 per cent of the total land for industrial development. Integrated industrial development is the purpose of this amended policy. If some one fails to do so or violates the norms, heavy fines will be charged," stated the notification.

A senior government official from the industries department said that this denotifing of the locked SEZ land will have a dual benefit. "We will be able to set up houses and develop industry as well. It will generate employment in and around Mumbai and Navi Mumbai. Now, firms and corporate groups should come forward to use the amended policy's benefits."

A committee has been constituted under the Chief Secretary to prepare a final terms and conditions, duties and prices to be fixed. The committee includes the Additional Chief Secretaries from the departments of finance, industries, urban development, law and judiciary, and the managing director of CIDCO.

The state government has also decided to make available this land for various firms who had made memorandum of understanding with the government under the Make In Maharashtra and Magnetic Maharashtra initiative. Once the guidelines are framed and finalised, the approval will be given to develop the SEZ land.

Manohar Shroff, vice president, Maharashtra Chamber of Housing industry, Navi Mumbai welcomed the decision. "In Mumbai, we do not have the land while in Navi Mumbai, ample land is available. Besides, this demarcated land is close to JNPT, the upcoming Navi Mumbai airport and the proposed Nhava Shewa-Sewri Link," said Shroff.