In­cen­tives for Re­de­vel­op­ment for So­ci­ety Build­ings

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The Gov­ern­ment of Ma­ha­rash­tra sanc­tioned the mod­i­fi­ca­tion to the Devel­op­ment Con­trol Reg­u­la­tions for Greater Mumbai-1991, un­der sec­tion of 37(1AA) (c) of MRTP-Act, vide Govt. No­ti­fi­ca­tion No. CMS-4311/452/ CR-58/2011/UD-11 dt. 6th Jan­uary 2012, grant­ing cer­tain en­cour­ag­ing in­cen­tives in re­spect to re­de­vel­op­ment of age old build­ings-owned by co-op­er­a­tive Hous­ing So­ci­eties in the lim­its of Greater Mumbai (City and Sub­ur­ban lim­its), to en­able to make re­de­vel­op­ment pro­posal fi­nan­cially vi­able. The said in­cen­tives are de­scribed in brief for the ben­e­fit of Co-op­er­a­tive Hous­ing So­ci­eties as un­der:1) Ad­di­tional 0.33 F.S.I. in Sub­urbs and Ex­tended sub­urbs :The Gov­ern­ment of Ma­ha­rash­tra vide its No­ti­fi­ca­tion un­der No. 7PB-4308/776/CR-127/2008/ UD-11 dated 24-10-2011 (mak­ing cer­tain mod­i­fi­ca­tions in its ear­lier No­ti­fi­ca­tion dated 10- 04- 2008) sanc­tioned the mod­i­fi­ca­tion pro­posal un­der sec­tion 37( 2) of MRTP Act and thus the pending is­sue of grant­ing ad­di­tional 0.33 F.S.I. for Mumbai-Sub­ur­ban ar­eas, is fi­nally cleared and now 0.33 ad­di­tional F.S.I. (1.00 + 0.33) is per­mis­si­ble for the devel­op­ment in the Sub­ur­ban and Ex­tended Sub­ur­ban ar­eas of Greater Mumbai against pay­ment of pre­mium. The mod­i­fied No­ti­fi­ca­tion and area wise pre­mium ap­pli­ca­ble is al­ready ex­plained in Chap­ter No. 4 of this book for the ben­e­fit and knowl­edge of the con­sumer. 2) Fun­gi­ble Com­pen­satory F.S.I.:As per sanc­tioned mod­i­fi­ca­tion to the Devel­op­ment Con­trol Reg­u­la­tion for Gr. Mumbai-1991 vide Govt. No­ti­fi­ca­tion dt. 6th Jan­uary 2012, Fun­gi­ble Com­pen­satory ad­di­tional F.S.I. hence­forth will be per­mit­ted over and above present ad­mis­si­ble F. S. I. for all type of de­vel­op­ments in the Greater Mumbai Lim­its with the spe­cial per­mis­sion of the Mu­nic­i­pal Com­mis­sioner sub­ject to the terms and con­di­tions men­tioned therein against the pay­ment of pre­mi­ums. The sailent fea­tures of the said per­mis­si­ble in­cen­tive Fun­gi­ble com­pen­satory F.S.I. re­lated to user/zone are de­scribed as un­der :a) Ex­tent of Per­mis­si­ble Fun­gi­ble Com­pen­satory F.S.I.:Zone & Users Fun­gi­ble F.S.I. per­mis­si­ble i) Res­i­den­tial Devel­op­ment : 35% over ad­mis­si­ble F.S.I. ii) Com­mer­cial Devel­op­ment : 20% over ad­mis­si­ble F.S.I. iii) Industrial Devel­op­ment : 20% over ad­mis­si­ble F.S.I. b) Com­pu­ta­tion of Ad­mis­si­ble & Fun­gi­ble Com­pen­satory F.S.I.:In view of item No. (a)(i) to (iii) above fol­low­ing will be per­mis­si­ble F. S. I. for dif­fer­ent devel­op­ment and users in City and Sub­ur­ban lim­its of Gr. Mumbai :• City Limit :Ad­mis­si­ble F.S.I. Fun­gi­ble F.S.I. To­tal Per­mis­si­ble F.S.I. i) Res­i­den­tial Zone 1.33 + 35% = 1.7955 ii) Industrial & Com­mer­cial Zone 1.33 + 20% = 1.596

• Sub­ur­ban Lim­its :i) Res­i­den­tial Zone 1.00 + 35% = 1.35 ii) Industrial & Com­mer­cial Zone 1.00 + 20% = 1.20 c) Pay­ment of Pre­mium :The in­cen­tive Fun­gi­ble Com­pen­satory F.S.I. will be per­mit­ted by the Cor­po­ra­tion against the pay­ment of pre­mium. The pre­mium rates are di­rectly linked to the prop­erty rates of dif­fer­ent ar­eas men­tioned in Ready Reck­oner for the pur­pose of Stamp Duty de­clared by the State Gov­ern­ment from time to time. The said pre­mium will be charged ac­cord­ing to the per­cent­age de­cided for dif­fer­ent users is de­scribed as un­der:i) Res­i­den­tial Devel­op­ment : 60% of the Stamp Duty Ready Reck­oner Rate of the re­spec­tive-Lo­ca­tion. ii) Industrial Devel­op­ment : 80% of the Stamp Duty Ready Reck­oner Rate of the re­spec­tive-Lo­ca­tion. iii) Com­mer­cial Devel­op­ment : 100% of the Stamp Duty Ready Reck­oner Rate of the re­spec­tive-Lo­ca­tion. d) Ap­pli­ca­bil­ity of Pre­mium:i) In the case of re­de­vel­op­ment un­der reg­u­la­tion No. 33(7), 33(9) & 33(10) (ex­clud­ing clause No. 3.11 of Ap­pen­dix-IV of Devel­op­ment Con­trol Reg­u­la­tion-1991) the Fun­gi­ble com­pen­satory F.S.I. ad­mis­si­ble on re­ha­bil­i­ta­tion (of Ten­ant / Mem­bers) com­po­nent shall be granted with­out charg­ing of Pre­mium. ii) The re­de­vel­op­ment un­der D. C. Reg­u­la­tion No. 33(5) i.e. Low Cost Hous­ing Schemes of MHADA, as well as re­de­vel­op­ment pro­pos­als of ex­ist­ing build­ings in sub­urbs and ex­tended sub­urbs by avail­ing of Trans­fer of Devel­op­ment Rights (TDR), the fun­gi­ble com­pen­satory F.S.I. ad­mis­si­ble on F.S.I. con­sumed in ex­ist­ing build­ing for only re­ha­bil­i­ta­tion com­po­nent shall be granted with­out charg­ing pre­mium. iii) The pre­mium will be charged for fun­gi­ble com­pen­satory F.S.I. to be used or uti­lized for Sal­able Com­po­nent of afore­said re­de­vel­op­ments men­tioned in item (d) (i)& (ii) above. 3) Im­por­tant Pro­vi­sions of Fun­gi­ble Com­pen­satory F.S.I. :i) In the re­de­vel­op­ment schemes, the Fun­gi­ble com­pen­satory F.S.I. to be uti­lized for the Re­ha­bil­i­ta­tion Com­po­nent shall not be

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