As Maharashtra government cleared Mumbai’s long-pending development plan, Gulam Zia, Executive Director of Knight Frank, spoke to CNBC-TV18, says hopefully it will be a balanced development plan but we will have to see whether we are on the target.
“We had a very notorious past where we have digressed from the target that were given to us like the affordable housing. Today, what we have is the swanky and top end residential development happening. So maintaining the focus is going to be the biggest challenge ," he said.
He further said that a huge amount of benefits has to accrue to small-mid income housing.
Zia said, "I do not think the development plan has lost its relevance."