CREDAI-MCHI, body of 1,800 developers, said DCPR 2034 with regards to uncessed buildings gives the tenants their rightful privileges but fails to deliver incentive to the owners of such buildings
Realty players in the state have appealed to the state government to provide incentives in the form of additional floor space index (FSI) to both cessed and non-cessed building owners. This comes in a bid to kick off composite development plan consisting of cessed and un-cessed buildings under the single or multiple ownership of old and dilapidated buildings, that have come up before and after 1969 in the island city and suburbs.
For the cessed buildings, the state government in the recently released Development Control and Promotional Regulations (DCPR) 2034, has mentioned that the FSI will be equal to that required for rehabilitating existing lawful tenants plus 50 per cent incentive FSI. This means the tenant living in a 200 sq ft tenement will get 300 sq ft after redevelopment.
However, for non-cessed building on the same plot, as per the DCPR, the owner will get utilised or consumed FSI. The city-based CREDAI-MCHI, a representative body of 1,800 developers, said that DCPR 2034 with regards to non-cessed buildings gives the tenants their rightful privileges but fails to deliver any incentive to the owners of such buildings. The tenant will get 200 sq ft of dwelling unit but the owner will not get any incentive and this will effectively derail the redevelopment process in Greater Mumbai.
CREDAI-MCHI president Nayan Shah argued that if the owners of old buildings are not given any incentive, they will have no reason to part with their land and building. This will effectively not just stall the redevelopment of dilapidated buildings but also risk the lives of a large number of people. In his letter to the state urban development secretary, Nitin Kareer written on October 15, Shah has stressed on motivating owners to go for redevelopment.
Builders Association of India's Infrastructure Committee chief, Anand Gupta said that additional 50 per cent incentive is to be given to the landowner as compensation for his land and structure. "In such a scenario all landowners will come forward to cooperate with the tenants and developers for the faster redevelopment of nearly 26,000 old and dilapidated buildings from Greater Mumbai," he added.
Not Fair They Say
CREDAI-MCHI, body of 1,800 developers, said DCPR 2034 with regards to uncessed buildings gives the tenants their rightful privileges but fails to deliver incentive to the owners of such buildings
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