New laws to under construction..!
The BMC (Bombay Municipal Corporation) insisted that the new laws will apply to even under construction buildings, which received permissions under earlier rules. Developers pleaded Municipal commissioner not to include under construction buildings.
Many builders said the new DCRs would affect their calculations and ruin the design of their projects.
The amended development control rules, approved by the state government, allows developers to utilize 35% extra area for residential projects and 20% for commercial buildings.
Rs. 1,000 crore ..!
The BMC will charge a premium for this compensatory FSI (Floor Space Index), the permissible built-up area vis-a-vis the plot of land size, and hopes to collect about Rs. 1,000 crore each year.
Many builders with ongoing projects are upset with the new policy & are believed to have sought legal advice.
Bombay Municipal Corporation
Tel:+91-22-22660883, Fax:+91-22-22660906
Email:portalfeedback.it@mcgm.gov.in
www.mcgm.gov.in
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