Conserving Heritage Sites To Be Lucrative
The urban development (UD) department is likely to announce revised incentives to make conservation of heritage structures and precincts a lucrative option. The Mumbai Heritage Conservation Committee (MHCC) has already submitted a proposal, chief minister Prithviraj Chavan indicated that the state government was likely to approve the proposal, when he stated that a notification on revised incentive guidelines for heritage preservation would soon be issued.
To make heritage conservation a lucrative option, MHCC has proposed to index transfer of development right (TDR) that a heritage property gains,equate it monetarily according to rates prevalent in the area and issue TDR certificatesbasedon this value. The TDR thus generated can be loaded for construction to the north of a property.
In most cases, however, it cannot be utilized in the island city and has to be loaded in suburban areas. MHCC has also proposed declaration of heritage precincts as special heritage zones, where the FSI use should be uniform and construction permitted in accordance with the existing heritage structure. Special incentives have been proposed for owners of heritage properties in these precincts.
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