Builders angry on FSI premium plan in Mumbai

Published on by 7bighagroup


In perhaps his quickest decision till date, chief minister Prithviraj Chavan is believed to have given the go-ahead to the new building approval guidelines prepared by BMC commissioner Subodh Kumar in a move that could meet with strong resistance from builders.

A 100% premium is proposed to be levied on developers who utilize over 25% of the sanctioned FSI (the ratio of permissible builtup area vis-a-vis the plot size) for a residential project. The plan could earn the civic administration about Rs 3,000 crore a year.

Mantralaya sources said on Wednesday that the state government would issue a formal notification in a “day or two” inviting suggestions/objections from the public. Activists, NGOs, urban planners, architects and, more importantly, builders are expected to participate in the public hearing that will be held over 30 days. After the process is over, the government will formalize the policy.

Builders across the city, who spoke to this newspaper in private, said approaching the courts was a “very strong option”. “Why the hurry to push through a proposal which will affect the entire industry and increase property prices?” said one of them. allows Property listings all across the India. Just register YourSelf and List Properties all Across the India Absolutely Free and Recieve Genuine Clients for Your Property.

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