STATE TO HIKE FSI FOR REVAMP OF MHADA COLONIES

MUMBAI: In a bid to add to the city’s housing stock, the state government has hiked Floor Space Index (FSI) for redevelopment of Mhada houses from 2.5 to 3, which will add 1 lakh affordable houses to the city.

The state has also announced that it will put a cap of 35% to 90% as incentive area to be given to existing residents. This is being done to put a stop to the unrealistic promises made by builders to residents in order to bag redevelopment rights.

Chavan also announced that in view of shortage of houses, the state has also asked Mhada to remove the clause which restricts winners from renting their flats for the first five years. He said there were 2.25 plus flat owners who kept their homes locked for various reasons.

1 LAKH MORE FLATS, P7