The move for Mumbai’s development proposes to repeal a
rule that led to a flurry of construction in the distant northern
suburbs at the expense of the city’s upmarket south
The latest blueprint for the development of
Mumbai proposes to repeal a 24-year-old rule that led to a flurry of
construction in the distant northern suburbs at the expense of the
city’s upmarket south and central parts, which stand to benefit if the
suggested change is implemented.
Builders typically seek to maximise earnings
by adding more built-up area on the same plot. In Mumbai, a builder who
might need more than the permitted floor space index or FSI—a measure of
the construction permitted in an available plot—can purchase additional
development rights from someone who has such rights.
Anyone who surrenders a piece of land in
Mumbai for public purposes, say slum rehabilitation, can offer to
rehabilitate the slum dwellers at his own cost and get land development
rights (called transferable development rights or TDRs) in return from
the municipal corporation.
The TDR is essentially a certificate that
confers the right to build up to a specified area. The TDR holder can
either develop the land himself, or sell it to any developer who needs
additional FSI.
Read entire article on http://mchithane.org/South-Mumbai-realty-may-soon-get-a-boost.html
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MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.
Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.
Contact us at - (+91) 9833 4583 23 or Email us - mchithane@gmail.com
501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India
MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.
Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.
Contact us at - (+91) 9833 4583 23 or Email us - mchithane@gmail.com
501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India
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