500 industries planning to use increased FSI for growth
After the Maharashtra Industrial Development Corporation (MIDC) recently sanctioned the implementation of 1.5 floor space index (FSI) for its industrial estates, around 500 small and medium enterprises in Satpur and Ambad are planning to use the hiked FSI for the expansion of their existing facilities.
According to the new industrial policy, the state government raised the FSI from 1 to 1.5 in the industrial estates of the MIDC. While the Implementation of increased FSI was delayed as the MIDC has not issued any officially notice regarding this issue. On March 10, the MIDC issued the notice for the implementation of increased FSI.
In the words of Industry
Mr. Manish Kothari, president of Nashik Industries & Manufacturers’ Association (NIMA) says that as both the places are fully occupied and there is no land available for the industries, the increased FSI will help the existing companies to go towards the vertical expansion. The MIDC has just issued the notice regarding this issue. Currently, the industries are engaged in finalizing their financial statement of this financial year. The SMEs are expected to get their expansion plans from next month.
A senior government official says that almost 500 SMEs from Satpur and Ambad have stopped their expansion plans because of lack of available land. The total expansion cost of these companies is about Rs 700 Crore.
Mr. Sunil Chitre, chairman of Spire Tank & Vessels Pvt Ltd, says that their company had put on hold the expansion plans due to land shortage. But with the increase in FSI from 1 to 1.5, they are now planning to increase our facilities. They plan to utilize the ground floor for development process and the administrative set up and testing labs shifted to the first floor. They plan to put in Rs 50 Lakh to expand over the existing facilities.
Mr. Shrikant Navandar, CEO and managing director of Satish Injecto Plast Pvt Ltd, says that because of shortage of land, they had transferred their development set up to Chakan near Pune. They also have plans to expand in Haridwar. The company has current expansion plans of cost Rs 10 Crore over the existing plant in Ambad.
There are almost 3,500 small, medium, large industrial units in Satpur and Ambad. Both the industrial estates are full and have no land to use. The MIDC has point out 5,000 hectares of land for the industrial use at different locations.
Source: The Times of India
500 industries planning use FSI for growth, Ambad, Chakan, Floor Space Index, FSI, FSI for growth, Haridwar, Land, Maharashtra Industrial Development Corporation, MIDC, Nashik Industries & Manufacturers' Association, NIMA, Pune, Satish Injecto Plast Pvt Ltd, Satpur, Shrikant Navandar, Small and medium enterprises, SME, Spire Tank & Vessels Pvt Ltd
