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Now, FSI bounty for Panvel and Uran
Expat Properties (I) Ltd.
Hindustan Times - Mumbai, September 11th, 2008
 

After 19,000 cessed buildings in south Mumbai got a gift of extra FSI from the Supreme Court last week, a 400-sq km area in the Panvel-Uran belt will now get an FSI of four —thanks to the construction of the 22-km Mumbai Trans Harbour Link.

The extra FSI has been given in an attempt to recover the Rs 6,000 crore that the Mumbai Metropolitan Region Development Authority (MMRDA) will put to build the link connecting Sewri in Mumbai to Nhava in Raigad.

The MMRDA will put in Rs 4,000 crore for the project, of which Rs 2,000 crore will be used to start the project. It also plans to raise Rs 2,000 crore from institutional financiers.

"We need to recover the cost. The government has given us clearance for granting FSI of four within 400 sq km of the link," Metropolitan Commissioner Ratnakar Gaikwad said.

Deshmukh also gave a go ahead for giving all development rights within a 500 m width of the link to the MMRDA. This will also get an increased FSI of 4.

 
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