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Developers
in urban center will build a lot of if they put aside some area for public
parking. The geographic region government has initiate with an incentive floor
area index (FSI) provision that encourages developers and housing societies to
earmark area for a public cause reciprocally of permission to make a lot of. This
may not solely release some in private owned plots or surplus area in housing
societies for public parking however even has some impact on the property market since the developers can get additional FSI to make a lot of.
In areas
wherever the FSI has been capped at one or 1.33, this provision would nearly be
a windfall for developers if they will put aside the desired area for public
parking. Extra FSI is large enough an incentive for developers. Within the
island town, the utmost permissible FSI, that determines vertical growth of a
building in proportion with the plot space, are four below the new parking
policy projected by the govt... In suburbs and extended suburbs, the utmost
permissible FSI are three, in line with a change created by the state to the
section 37(2) of Development management Rules (DC Rules). The final FSI within
the island town and suburbs is one.00 and 1.33.
The
provision says the minimum space of a plot being offered for public parking
ought to be a thousand sq m within the island town and 2000 sq m in suburbs.
The minimum variety of cars public car parking zone mustn't be but fifty
subject to minimum parking space of 700 sq m. the utmost permissible FSI that
the policy offers is inclusive of the FSI really employed by the developers or
societies. The policy are enforced by the Brihanmumbai Municipal Corporation
(BMC).
The
provision can work like this. Suppose a developer or housing society offers a 20,000
sq m plot for public parking, afterward building or society has consummated
parking necessities of the residents, to the municipal corporation and if the
corporation accepts the proposal, the developer or the society involved can get
an extra FSI (depending upon location) over and on top of the FSI granted
earlier. individuals victimisation the parking lot can have to be compelled to
pay charges to the BMC. However the developer or society won't claim any share
during this revenue and also the solely incentive are additional FSI.
The
provision makes a distinction for areas close to railway stations, bus depots,
railway stations, water jetties, government offices, and distinguished places
of worship. If the parking lot projected by developers or societies is at
intervals 500m distance from any of those places, the permissible extra FSI are
out there on five hundredth of the engineered of parking lot. In alternative
elements of town and suburbs, this may be four-hundredth. This provision has
been enclosed to facilitate public parking around distinguished places of
worship like Siddhivinayak, Mahalaxmi temple, Haj i Ali, Mount mother church
etc.
The
provision wouldn't solely produce parking lot round the common places of worship
however conjointly cause creation of extra housing stock by providing
additional FSI. The availability at places of worship conjointly takes under
consideration the protection side since shortage of parking has perpetually
been a security threat.
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