Shot in arm: Total FSI for saleable residential projects increased up to 1.7

Over six years after it introduced the Special Township Project (STP) scheme to promote self-sustainable micro-economic hubs in and around urban centres in Maharashtra, the state government on Sunday finalised several modifications to the existing policy. While the total FSI for saleable residential projects has been increased from 1 to a maximum of 1.7, the government has also increased the component of low-cost housing and the area that has to be reserved for economic activities within the township.

Mumbai: The state government has decided to permit use of no-development zones (NDZs) for industrial, commercial and residential activity in the exit policy for special economic zones (SEZs).

A basic floor space index (FSI) of 0.5 on the gross area will be permitted in NDZ areas. As an exit route, the state’s new industrial policy permits conversion of denotified SEZs more than 100 acres to integrated industrial areas (IIAs).

Report says urbanisation will be the single-largest factor driving demand for real estate and housing in particular

Urbanisation will be the single-largest factor driving demand for real estate and housing in particular. This growing population has rapidly fueled the process of urbanisation. With 31 out of every 100 people in the country living in the cities or towns, India has a higher number of people living in urban areas. The retail space is currently witnessing excessive supply, however, the gap between demand and supply is narrowing.

Mumbai In a move that could give a further fillip to the economic reforms kickstarted by the Centre last week, the government has now told commercial banks to fund partially completed residential projects, as well as projects in small towns on a priority basis.

At a meeting between the secretary for financial services, DK Mittal, Indian Bankers Association (IBA) and developers’ apex body Confederation of Real Estate Developers’ Associations of India (Credai) in Mumbai, Mittal asked commercial banks to focus on funding under construction projects that are delayed due to want of funds, said Credai president Lalit Kumar Jain.

Having exhausted most of its land bank, the Tamil Nadu Housing Board (TNHB) is planning to take up joint ventures with private land owners in the city, as well as in other parts of the State.

According to sources in TNHB, the proposal has been initiated as there is a paucity of land availability in and around the city. Moreover, the Board is facing difficulties in acquiring land for housing development.

A committee appointed by the state government to study certain aspects of the ambitious rental housing scheme has recommended the introduction of affordable housing in special townships in areas outside the limits of municipal councils.

The committee, comprising the metropolitan commissioner, principal secretaries of housing and urban development, last week submitted a report to the state government at the behest of Chief Minister Prithviraj Chavan.

In a move that aims at providing more land for construction and increased sops to builders in the ecologically sensitive Coastal Regulation Zone (CRZ) areas, the Brihanmumbai Municipal Corporation

Mumbai State won

Sanjay Jog / Mumbai December 15, 2010, 0:42 IST

The Maharashtra government has scrapped its policy to grant additional floor space index (FSI) for public parking in Mumbai city under its Development Control Regulations 33 (24).

The government had notified the extra FSI for parking one-and-a-half years earlier following a rise in vehicle population and the need for parking in the city.

Mumbai Pollution monitor serves showcause notices, each project built parking lots for extra FSI

The Maharashtra Pollution Control Board has issued show-cause notices to 13 real estate projects on the ground that they haven