Industries no longer in business can use plots for other purposes, says Maharashtra government
However, while approving the proposal for the change of purpose, the state has put certain conditionsmumbai Updated: Jan 03, 2018 00:32 IST
The industries that have shut their businesses that were operated on plots notified and acquired by the state government for industrial use prior to 1970, can now use the plots for other purposes.
However, while approving the proposal for the change of purpose, the state has put certain conditions: the owners of the plot will have to construct affordable houses for the Economically Weaker Section (EWS) and Lower Income Group (LIG) on 20% plot of the base FSI (Floor Space Index), and have to distribute to the beneficiaries approved by Maharashtra Housing and Area Development Authority.
Further, the owner of the plot will also have to pay a premium to the state, which will be 40% of the market value of the plot.