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The Maharashtra government is looking to link the height of the buildings to the width of the roads. For builders, it may mean more FSI.
Chief Minister Devendra Fadnavis government has rolled out a revised policy for transferable development rights (TDR) in Mumbai.
The transfer of development rights certificate gives developers construction rights over and above the base FSI when they construct or redevelop buildings.
For existing projects, the policy could have a beneficial impact as it links construction on a plot to width of the road on which it stands.
BeneficiariesUnder the new policy, any project on the road along the site less than nine metres will get no TDR benefit whereas projects abutting roads over 30 metres wide will get a bonanza of 2.5 FSI .
The new proposal has 1.5 FSI for plots where the road is in the range of 9-12 metres wide, while for roads in the range of 12-18 metres, the FSI is 1.75.
The move benefits plots, the adjoining road to which is in the range of 24-30 metres, where the builder gets a FSI of 2.25 and for all plots above 30 metres road width, the builder gets 2.5 FSI.
Currently, for a project in the city, the permitted FSI is of 2.7. This can increase to 3.5 for wider roads. The built-up space permitted for constructions in the city will also rise proportionally.
Public amenitiesThe TDR is generated when a land owner surrenders lands for reserved public amenities or for road widening/new roads in built-up form or rehouses slum dwellers or the project affected persons free-of-cost.
As per data, about 54.31 per cent of Mumbai’s road network comprises roads wider than 12.2 m or 40 feet.
Previously, the TDR utilisation for suburban plots was restricted to 0.5. The revised policy raises this limit to 0.7 for plots fronting roads wider than 12.20 metres but less than 18.30 metres (60 feet).
Payment of premiumDharmesh Jain, CMD, Nirmal Lifestyle and President, MCHI-CREDAI, said, “MCHI welcomes the new policy as it will facilitate the handover of the reservations and amenities to the city. However, we would appeal to the government to re-look at the development available on roads nine metres and below as large number of roads in Mumbai are below nine metres and redevelopment of large number of old dilapidated roads and slums will be affected by the same.”
Builders can avail themselves of an additional FSI on payment of premium to the municipality
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