After scrapping the earlier additional floor space index for public parking policy, the state government has framed a new policy with some precautionary changes.
After scrapping the earlier additional floor space index for public parking policy, the state government has framed a new policy with some precautionary changes. It will bring in more revenue for the state exchequer and restrain developers from constructing excess floors for parking to get additional FSI that would be used to construct sky-scrapper towers and sell them at exorbitant rates.
The Development Control Rule 33 (24) for incentive parking FSI has been amended with these new provisions that will keep developers on tenterhooks. Earlier, developers were eyeing to make big money by constructing high rise towers in central Mumbai. Consequently, out of the 28 earlier approved public parking proposals, 20 were from South Mumbai and the remaining eight from the suburban district.
According to senior civic officials, the new provision will not permit developers construct more than four floors of public parking, since they would put additional burden on existing infrastructure.
“We have also decided to charge premium from developers against the use of additional FSI. It will be charged on the basis of that area’s ready reckoner rate. As per the requirement of parking in that particular area, projects will be approved or rejected. Projects will not be passed indiscriminately now,” said officials on the condition of anonymity.
Earlier, the developers collectively constructed parking at one place only even when there was no demand. The aim of the old parking policy was to ease the street parking problem by constructing maximum parking slots. “Now, developers have to hand over public parking to BMC and there will be a restriction on the number of parking floors. Due to the earlier high FSI policy, some city developers had tabled 50 to 70-storey towers. Now, paying premium to the government will cut down developers profit margin. It will help government to earn at least Rs 2000 crore,” said an official.
The corporation plans to publish the newly-framed policy to invite suggestions and objections from people. Then it will be forwarded to the urban development department for final approval.
The state government has set up a committee that will screen all submitted proposals and forward to the government for final approval. Then, it will be sent back to the BMC, which will issue an intimation of disapproval or commencement certificate to the developer.
When contacted, a city-based prominent developer said it is unfortunate that the same government is framing and re-framing a policy after a gap of two years. “What prompted them to make amendments in the policy? We are disappointed with the government’s decision. The new policy does not seem motivating, because in return we will not get anything to encourage us to go for it,” he said.
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