With this, the builders will be able to increase the FSI of their projects at other locations.
The Gujarat state urban development department has announced a bounty for builders, who contribute to slum rehabilitation and redevelopment. The government has changed the rules for Regulation for the Rehabilitation and Redevelopment of the Slums 2010. Now, builders and developers will be able to transfer their surplus floor space index (FSI) to other projects or persons.
With this, the builders will be able to increase the FSI of their projects at other locations.
The government issued a notification on May 22 this year changing the rules for utilisation of FSI. According to the notification, the FSI available after the rehabilitation of slum dwellers on the slum plot should be utilised on the portion of the same plot. However, if there is surplus FSI which cannot be used there, the builder can use it on any other plot in parts either on one or more than one plot. Previously, the builders had to use the entire FSI at the same plot.
The builders can even transfer this FSI to other developers or persons, though just once. This gives rise to possibilities that FSI may be sold under transfer. Further, the transferable FSI will be permitted in all-use zones having permissible FSI of 1.2 or more (zones are categorised depending on the plan for the land). The total maximum permissible FSI would include the permissible FSI of that plot and an additional 50% of this FSI. For example, if the permissible FSI in the particular zone is 1.2, the total maximum permissible FSI would be 50% more i.e. 1.8.
This additional or surplus FSI can also be used in projects like hotels and hospitals granted under the Regulation of Hotel 2011 and Regulation of Hospital 2011. No premium will have to be paid for the transferred FSI. Further, jantri rates on the transferable FSI would be considered as on the day on which permission for the project was granted.
However, transferable FSI cannot be utilised in township projects granted under Regulation of township – 2009.
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