City Beat: Want To Construct Over Permissible FSI In Mumbai Suburbs? Pay An Additional Cess [Video]
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City Beat: Want To Construct Over Permissible FSI In Mumbai Suburbs? Pay An Additional Cess [Video]

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In a recent development, the state government proposed an additional cess on construction over the permissible FSI or floor space index. A cess of Rs 5,000 for every additional square metre will be levied on those planning to redevelop old and dilapidated buildings in the suburbs of Mumbai. This will have to be paid during the construction period and will be used to develop the offsite infrastructure of the building. The state government recently issued a draft notification and invited objections and suggestions for the proposal.

In a similar development, according to Brihanmumbai Municipal Corporation or BMC, the terraces of high-rise buildings in Mumbai will now be allowed for ornamental projections and architectural features. This was announced as a part of the 'Crown Policy' that will be soon introduced by BMC. So, if you are a developer who wants to join two towers by a walkthrough steel beam on the top, you could do it as a part of this new policy and thus, utilise the terraces for recreational events for the residents.

Meanwhile, after the Bombay High Court banned all new constructions in Mumbai from March 1, 2016, the submission of redevelopment proposals between May 2016 and December 2016 have dropped by 50 per cent when compared to previous years. While BMC receives nearly 1,300 proposals every year, there were only 600-650 proposals during this period. With this dip, BMC is likely to lose Rs 600 crore as there will be a shortfall in construction premiums and development charges developers pay to the authority.

On the other hand, City and Industrial Development Corporation of Maharashtra or CIDCO collected Rs 190 crore by selling eight plots located in Kharghar, New Panvel and Kalamboli via a bid. These plots are located in proximity to the proposed airport at Navi Mumbai. While the Kharghar plots were sold to the highest bidders at Rs 1.37 lakh per sq mt and Rs 1.22 lakh per sq mt, the plots in New Panvel fetched Rs 1.13 lakh per sq mt and Rs 1.02 lakh per sq mt.

Additionally, CIDCO also allocated Rs 11.76 crore for infrastructural development in Navi Mumbai's Ulwe. The allocated money will be used to develop sectors 20, 21 and 23 as a part of the second stage of developmental projects. The work is expected to be done in the next 24 months.

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@@Thu Sep 14 2017 19:23:23