Shares of Mumbai-based realty companies are rallying on Dalal Street with the index up 1 percent intraday today. Maharashtra Government has scrapped the controversial Mumbai Development Plan 2015-2034 and directed BMC to submit reworked Mumbai Development Plan in four months. The reworked Mumbai Development Plan will be put up for public review. The draft development plan 2015-2034 of the BMC had several omissions and flaws. In development plan, for instance, it had not marked more then 40 percent of heritage structures. The development plan had shown roads through existing buildings and some places of worship.
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