FSI Hike in Pune

The new Development plan (DP) for the older areas of the city of Pune includes a hike in floor space index (FSI), cluster development for old wadas and new road network. The administration of Pune Municipal Corporation (PMC) has submitted the Pune DP in 24 years (last one being in 1987) to the City Improvement Committee (CIC). This DP also includes the proposal of allocating a higher FSI for redevelopment of old areas of the city, parking plots, old age home and parts of the city where the metro railway will run. The current rate of FSI, specified by PMC is 1.5 in old city areas (this includes all the peths). Because of the fast growing traffic problems of the city, PMC has also proposed new roads, tunnels and flyovers. The DP includes the metro railway plan.The state government has offered a rate of 2.5 FSI for Mhada schemes. This not only creates a better and larger number of housing stocks but also helps in recovering construction costs. This change in the policy will help the authority get large land and attract land owners by because of its better returns and its affordable housing agenda.Rajendra Nimbalkar, chief executive officer, Mhada, Pune region said “Purchase of private land at market rate was part of our guidelines, but it was rarely exercised as the authority relied on buying government owned land for the projects. Government owned land is used for housing projects, developing other infrastructure or remains unutilized due to some disputes. Shortage of land forced us to change the policy towards land purchase and follow land purchase and follow the market rules”.The state government has increased the budget for Mhada’s Pune region from Rs 15 crore to Rs 150 crore for utilization before March 2012. And the for 2012 the allocation is Rs 390 crore, Rs 300 crore of which is set aside for purchase of land in the region.Floor Space Index or Floor Area Ratio (FAR) is the ratio between the building’s total floor area on a particular location and land size of that location or the limit charged on such a ratio. The formula for calculating FSI is Floor Space Index= Total area covered including all the floors of all the buildings on a particular plot/ Area of the plot.займ на карту без отказов круглосуточновзять кредит онлайн