By Accommodation Times (www.accommodationtimes.com)
On Tuesday in a very robust move civic body has levied a hefty premium on developers those who wanted to construct more than the permissible Floor Space Index (FSI) the ratio of the total built-up area vis-a-vis the plot size.
According to the BMC officials, state government is expecting Rs.1000cr income per annum by levying premium on extra FSI. As per the amendments policy offers 35% compensatory floor space index for residential buildings and 20% for both commercial and industrial structures.
As per the new rules areas those are included in the FSI such as balcony, flower beds, etc. In this developers will get 35% FSI for residential housing and 20% for commercial buildings and 25% extra for parking lots as compensation, whereas levied premium 60% to 80% on residential complex and 100% premium of ready reckoner rates for extra FSI on commercial structures.