FSI hiked for new creation
Mumbai- The state government has made it mandatory regarding township projects to create approximately one-fourth of the area for economic activity to boost creation of new economic hubs.
Exclusive township projects usually are those when a developer is allowed to create a township as well as offers all the necessary amenities and infrastructure in a composite plot expand over 40 hectares.
The concept is to build employment opportunities for individuals in close proximity to their homes. Government has categorized business centered around schooling, food, healthcare, along with activity, among other activities as economic activity.
To help a couple of major developers who are developing township in Mumbai Metropolitan Region (MMR), the policy was made mandatory but Chief minister Prithviraj Chavan denied it saying that the policy was targeted at endorsing planned development.
Pertaining to developable areas from the MMR, the FSI available will range anything from 1. 5 to 1. 7. A maximum FSI of one had been offered. It will be 1. 5 regarding townships spread over 40-100 hectares, 1. 6 regarding 100-200 hectares as well as 1. 7 regarding townships preceding 200 hectares.
Chavan even stated that the government has added a new condition requiring builders to construct small-sized houses for economically weaker sections and also low income groups on 20% area of the plot. After the construction is being completed the houses have to be handed over to Mhada. This will also boost the stock of affordable housing. Government entities will charge fee premium at ready reckoner value with the added incentive FSI.
Not any township is going to be acceptable inside ecologically sensitive zones. However, the government has hiked FSI for growth of other ‘green‘ specific zones current alongside transport corridors.
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Affordable Housing, Amenities, ecologically zone, economic hub, Floor Space Index, FSI, Green zone, Infrastructure, Mhada, MMR, Mumbai, Mumbai real estate, Prithviraj Chavan, Realty News, State government
