Maharashtra hikes FSI for Dharavi redevelopment project
As a major sop to the developer of the Dharavi Redevelopment project, the state government has provided an additional grant for construction rights (known as fungible FSI) free of cost. The decision could cost the government over ₹1,000 crore as it allows 0.35 fungible FSI for the rehabilitation component of all redevelopment projects. It, however, charges 50% of the Ready Reckoner Rate for the sale component in case it is a residential project, and 60% of the Ready Reckoner Rate in case of a commercial project. Dharavi is in the airport funnel zone so there are height restrictions on buildings to be constructed here. Further, all FSI generated in this project is to be consumed here. The Transfer of Development Rights is not applicable in the project area, said an official from the urban development department, which issued the fungible FSI notification. This notification to modify the Development Control Regulation to allow free fungible FSI was ready in March but objections/suggestions are being invited now as the model code of conduct is no longer in force.
📅Published on:
07 June 2019
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