The Seoul Metropolitan Government on Wednesday announced a package of measures to streamline red tape regarding the city's redevelopment projects.

The six-point deregulation plan put forth by Seoul Mayor Oh Se-hoon aims to revitalize redevelopment by meeting the goal of supplying 130-thousand new homes by 2025.

Seoul City will abolish the so-called "residential renewal index" adopted under former Mayor Park Won-soon in 2015, which largely restricted redevelopment zone designations based on a point system of resident approval and level of deterioration.

The current five-year period required for redevelopment designation will be cut down to two years, and the process of confirming resident approval will be simplified.

Worn-out residential areas will be classified as new redevelopment zones, while a cap on six-story buildings in some regions will be lifted.

The city government is expected to complete revisions to the latest plan by October.