While island city is a gold mine for builders and developers, there is more good news for them, as well as for residents. The Brihanmumbai Municipal Corporation (BMC) has proposed to give 2.66 floor space index (FSI), comprising additional FSI of 1.33. The BMC has also proposed uniform transferable development right (TDR) of .8 to development projects.
A BMC deputy commissioner informed , “There is no scope for redevelopment with that much FSI. Therefore, the BMC has proposed additional 1.33 FSI including TDR of .8. This will put the redevelopment of existing buildings on the fast track and help us increase the housing stock.”
The BMC, meanwhile, has also allowed construction in the no development zone (NDZ), which also includes salt pans. But, the civic body has kept a condition in this, where the land owner will have to construct affordable homes, create open space and amenities and sell part of the housing stock in the open market.