Govt extends FSI benefits, stamp duty waivers for self-redevelopment

The Maharashtra state government has announced the formation of a separate authority to boost the self-redevelopment of cessed and dilapidated buildings. The scheme, launched in 2019, aims to help over 16,000 old and dilapidated buildings in Mumbai. The government will also offer a waiver in stamp duty among other relaxations, and extend the amnesty scheme to push deemed conveyance to city buildings. Deputy Chief Minister Devendra Fadnavis has directed the administration to extend the benefit of an additional 10% FSI to buildings abutted by roads of less than nine metres, and incorporate banks as nodal agencies to implement self-redevelopment.

Mumbai: To give a boost to the self-redevelopment of cessed and dilapidated buildings, the state government has announced that it will constitute a separate authority and offer a waiver in stamp duty among other relaxations. The government also announced an extension to the amnesty scheme to push deemed conveyance to city buildings.

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In a review meeting held by Devendra Fadnavis, the deputy CM, who is also the housing minister, asked the administration to extend the benefit of additional 10 percent FSI to buildings abutted by roads of less than nine metres. Fadnavis has also asked the housing department to incorporate banks as nodal agencies who can come forward to implement the self-redevelopment of these buildings. Self-redevelopment is done by housing societies themselves without involving builders, and the scheme was launched in 2019 to help over 16,000 old and dilapidated buildings in the city.

“The Ease of Doing Business policy should be promoted to encourage self-redevelopment of these buildings,” Fadnavis told officials from the housing, cooperation and revenue departments. “Proposers should be helped in obtaining a deemed conveyance certificate, getting registration done, making the appropriate entry in property cards, and stamp adjudication should be issued in a time-bound manner. Tweaking the rules pertaining to old buildings and changes in the FSI norms are important. A separate authority should be constituted to push the redevelopment of these buildings.”

Fadnavis has also directed the revenue department to extend the amnesty scheme for one more year to allot conveyance deeds to housing societies in the city. He has also asked the administration to check if it is possible to issue a blanket conveyance deed to all the societies that applied for it before MahaRera came into force.