The state Cabinet on Tuesday gave it’s approval for a new policy aimed at concept-based iconic city development, designed to ensure optimal use of land under CIDCO and other state authorities.

According to the cabinet decision, currently CIDCO, which holds a huge land bank in Navi Mumbai , allocates land parcels on lease through auctions and allows successful bidders to undertake construction projects. The developers are required to comply with the lease agreements and the Unified Development Control and Incentives Regulations, 2020.

Officials said some plots are controlled by multiple construction and development operators (CDOs), which makes it difficult to implement integrated urban development.

Under the new policy, CDOs can be appointed through a competitive bidding process and t

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