Launched by London mayor Ken Livingstone, it is hoped the Sub Regional Development Framework (SRDF) for Central London will help councils plan for the 'sustainable and prosperous future' of the city.
The SRDF will bring together an array of information about central London and will suggests a range of issues that boroughs and other stakeholders should consider in local policy.
With the first review of the London Plan due later this year, the feedback will also help the mayor gauge whether the city is responding to the challenge of climate change and if improvements can be made to improve coordination of planning between London and its neighbouring regions.
The mayor said: 'Central London is one of the world's great places. Londoners and visitors identify with the unique mix of business, culture, entertainment and heritage found at the heart of London. It is a place that contains areas of considerable wealth alongside concentrations of deprivation.
'This SRDF provides guidance on how to accommodate these very considerable economic and residential pressures in a sustainable way, to benefit not just the sub region but London and the country as a whole.'
Prior to the launch of the draft SRDF, Livingstone worked with the central London boroughs, Central London Partnership, Cross River Partnership, London First and other key stakeholders including the community and voluntary sectors.
The consultation period is expected to run until the end of October.
To download a copy of The Central London Sub Regional Development Framework, go to www.london.gov.uk