New FSI rules may lead to home price reduction in Mumbai
The state government has proposed to give 2.5 floor space index (FSI) to dilapidated buildings in the Mumbai Metropolitan Region.
With this decision the builders will get the chance to construct more apartments, which will definitely increase the supply of the properties in Mumbai region.
The government officials have confirmed that the decision to give 2.5 FSI against the present one is likely to be taken soon. The government has also completed all the official procedure to change the FSI.
With the rising demand for apartments at peripheral locations, builders are rising the cost of the apartments in Mumbai Suburbs. The new FSI will restrict the builders to increase the cost of the apartments in Mumbai and its surrounding areas, as more FSI will help in creating more houses.
The government is hoping that the builders should keep the transparency in deals and should transfer the benefit of additional FSI to the consumers. Along with allotting higher FSI, the government is also planning to develop the infrastructure of these locations.
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Source: DNA India
buildings in Mumbai, Floor Space Index, FSI, Mumbai Metropolitan, Properties in Mumbai, State government
