The Master Plan for Delhi 2047 was unveiled on Thursday, with Union Housing and Urban Affairs Minister Manohar Lal Khattar announcing plans for around 40 lakh homes and an expansion of the city's metro network to 695 km by 2047.The Delhi Metro network currently spans about 416 km.The plan aims to prepare Delhi for a projected population of 3.20 crore while balancing urban development with environmental preservation, Lal said at a joint press conference with Delhi Lieutenant Governor T S Sandhu and Chief Minister Rekha Gupta.Also Read: Delhi’s Anand Vihar, Kashmere Gate, Sarai Kale Khan to get multi-modal transport hubs for seamless transfers between metro, rail, bus and RRTSHe said development would be accelerated while protecting around 180 sq km of the Yamuna floodplains and the Ridge area.Under MPD 2047, 30-40 lakh new flats are planned to meet the housing needs of the growing population. The city's public transport network will also be expanded, with metro rail, buses and six new Regional Rapid Transit System corridors planned, Lal said.The Transit Oriented Development Policy will support affordable housing, while farmhouses will not be permitted in low-density areas, Khattar said.The plan also removes building height restrictions in most areas, except for certain locations. Data centres, co-working spaces and cloud kitchens have been included under the "new economies" category.Gupta said the long-awaited master plan would help revitalise Delhi by focusing on affordable housing and improving transportation infrastructure.Aligned with the vision of Viksit Bharat@2047, MPD 2047 seeks to develop Delhi into a world-class, inclusive and economically vibrant city capable of supporting nearly 3.2 crore people.Also Read: Delhi Master Plan 2047 approval likely to boost real estate sectorThe plan also marks a shift from a largely regulatory approach to urban planning towards a development-focused framework aimed at encouraging investment, innovation and job creation.Earlier this month, The Economic Times reported that the plan was approved after it remained pending for more than four years.The long-pending plan is expected to provide a framework for Delhi's future development, including land use, housing, infrastructure and redevelopment. The DDA has said the master plan will guide the growth and development of the national capital over the coming decades.The Economic Times had also reported that the plan was expected to address long-standing issues around the Green Development Area and farmhouse development, while easing some of the regulatory hurdles for construction and redevelopment. Industry executives had said greater clarity and faster approvals could help revive real estate activity in the capital.