Overview
- The BMC’s draft policy defines Iconic Buildings as projects showcasing exceptional aesthetic, structural or thematic innovation to reinforce Mumbai’s architectural identity
- Developers must have completed at least 1 million sq m of projects or ₹5,000 crore turnover, with a potential exemption for globally recognised architects
- Each proposal must allocate a minimum of 40% of its area for public amenities, and developers will bear lifelong maintenance responsibilities
- A six-member expert committee led by the municipal commissioner will evaluate only new and redevelopment proposals and can approve up to five each year
- Successful applicants may receive additional Floor Space Index by paying a premium shared two-thirds to the BMC and one-third to the state government