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Tuesday, Sep 17, 2019

Maharashtra government has plans to offer FSI incentives to those who offer land

Originally, the excluded part of DCPR removed floor space index (FSI) incentives, but the proposed modification reintroduces additional FSI for reservation plots

mumbai Updated: Sep 26, 2018 00:14 IST
Eeshanpriya M S
Eeshanpriya M S
Hindustan Times
Plots across Mumbai are picked by the civic body and reserved under the accommodation reservation policy, for public amenities such as gardens, old age homes, hospitals, schools.
Plots across Mumbai are picked by the civic body and reserved under the accommodation reservation policy, for public amenities such as gardens, old age homes, hospitals, schools.(HT Photo)
         

The state plans to introduce a modification to the recently-approved excluded part (EP) of the Development Control and Promotions Regulation (DCPR), which will give benefits to landowners who give a portion of their land to Brihanmumbai Municipal Corporation (BMC) to develop amenities. Experts say it could affect a project’s viability from the builder’s perspective.

Originally, the EP removed floor space index (FSI) incentives, but the proposed modification reintroduces additional FSI for reservation plots (land in which a portion belongs to the BMC under the accommodation reservation policy).

A senior official said, “This will maximise DP [development plan] implementation, as the city will get more public amenities. We have deliberated a time frame of five years for this reason, instead of keeping the FSI incentive on reservation plots in the open time frame as before.”

Architect Vilas Nagalkar said, “The state’s decision reduces the capacity of in-situ utilization of FSI. This will greatly affect the project viability, in case of a residential or commercial project, as the builder will get less built up area.” BMC officials say the additional FSI is an attraction. “Plot owners with reservation on their land, who hand over amenities to BMC within the first five years of the DCPR implementation, will get an additional FSI benefit of 1, over and above the FSI potential of the plot.” According to the BMC, the development potential of a reservation plot would equal that of a non-reservation plot of the same size.

Plots across Mumbai are picked by the civic body and reserved under the accommodation reservation policy, for public amenities such as gardens, old age homes, hospitals, schools. Plot owners can develop the amenity and hand it over to BMC, in exchange for benefits in FSI.

First Published: Sep 26, 2018 00:14 IST