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fsi-1Developers in Mumbai can build more if they set aside some space for public parking. The Maharashtra government has come out with an incentive FSI provision that encourages developers and housing societies to earmark space for a public cause in return of permission to build more. Sources have stated that this initiative of more FSI if more parking for builders would not only free up some privately-owned plots or surplus space in housing societies for public parking but also have some impact on the property market since the developers will get extra FSI to build more. In the island city, the maximum permissible FSI, which determines vertical growth of a building in proportion with the plot area, will be 4 under the new parking policy proposed by the state. In suburbs and extended suburbs, the maximum permissible FSI will be 3. The general FSI in the island city and suburbs is 1 and 1.33. The provision says the minimum area of a plot being offered for public parking should be 1000 sq m in the island city and 2000 sq m in suburbs.

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