News

FSI BONANZA FOR BKC – UNION DEVELOPMENT MINISTRY SANCTIONS ADDITIONAL 4 FSI FOR OCCUPANTS

bkc-1Mumbai’s central business district Bandra-Kurla Complex has just got bigger. Maharashtra’s urban development ministry has cleared a proposal by MMRDA, which presides over the BKC, to raise floor space index (FSI) for commercial properties from 2 to 4. MMRDA’s proposal over raising the FSI for commercial properties from 2 to 4 in Bandra Kurla Complex has been approved by the state’s urban development ministry. A number of business houses including RIL, IL&FS and Jet Airways would immensely benefit by the state’s decision. The additional FSI is said to be made available on payment of premium prescribed by the MMRDA. The decision will very likely address the demand for more space made by several corporates and financial institutions who can build more commercial space if they want. For MMRDA, the provision for additional FSI could be a major source of revenue too as the corporates would have to purchase the additional FSI at the floating rates prescribed by MMRDA. Nilofar Shaikh NMTV

Tags

Related Articles

Back to top button
Close
Close