The real estate sector welcomed the government nod for the new development plan (DP) for the financial capital today, but experts were concerned about the toll it will take on the already stretched infrastructure.
The research wing of rating agency Crisil said the 2034 DP will release over 3,650 hectares of barred zones and salt pan land for development but added that while the move is a positive for development, it is likely to "pressurise existing infrastructure further".
"Though upcoming metro projects are lined up keeping in mind this DP provisions, the growth of real estate supply is likely to happen faster than the infrastructure extension," its director Binaifer Jehani said.
Property consultancy Anarock's Anuj Puri echoed the same sentiments, saying, "If infrastructure development does not keep pace with increased construction, the stress on civic amenities and traffic may worsen in the city."
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