SRA sanctions deferment in payment of premium for fungible FSI

fsiBy Accommodation Times Bureau


The Slum Rehabilitation Authority (SRA) has decided to sanction deferment in payment of premium for fungible Floor Space Index (FSI) under Regulation No. 35(4).

Confederation Real Estate Developers’ Association of India (CREDAI) had urged SRA Chief Executive Officer Deepak Kapoor to extend the similar facility for SRA scheme, a circular said.

According to the provisions of Regulation No. 35(4) of sanctioned Development Control Regulation of Greater Mumbai, Fungible compensatory Floor Space Index, not exceeding 35% for Residential and 20% for Industrial / Commercial Development, over and above admissible Floor Space Index, is permissible by charging premium @ 60%, 80% and 100% of stamp duty Ready Reckoner Rate, for Residential, Industrial and commercial development respectively.

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