The state government has cleared two public parking projects in Mulund and Worli under its parking floor space index ( FSI) policy and will earn nearly Rs150 crore as premium from builders developing them.
The policy stipulates that a developer, who builds a public parking lot on a part of his land and surrenders it free of cost to the BMC, will receive additional construction rights as compensation on the remaining portion. New guidelines formulated by BMC chief Subodh Kumar levied a premium on builders opting for the scheme.
Last month, the state government sanctioned Runwal Group's proposal to build a parking lot spread over one million square feet in Mulund. As compensation Runwal will receive an FSI of 3 for constructing the facility free of cost for the civic body. The builder will also pay a premium of Rs40 crore, which will be shared equally by the state government and the BMC.
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The policy stipulates that a developer, who builds a public parking lot on a part of his land and surrenders it free of cost to the BMC, will receive additional construction rights as compensation on the remaining portion. New guidelines formulated by BMC chief Subodh Kumar levied a premium on builders opting for the scheme.
Last month, the state government sanctioned Runwal Group's proposal to build a parking lot spread over one million square feet in Mulund. As compensation Runwal will receive an FSI of 3 for constructing the facility free of cost for the civic body. The builder will also pay a premium of Rs40 crore, which will be shared equally by the state government and the BMC.
....more info