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STATE COLLECTS RS 250 CR IN PREMIUM PAYMENT FOR ADDL FSI

State-collect-4After the state’s decision of increasing the FSI in suburbs, the government has collected a whopping Rs 250 crore from a section of leading builders.State’s decision of increasing the base floor space index in the suburbs from 1 to 1.33 on the payment of premium has collected a whopping Rs 250 crore from a section of leading builders for the additional (FSI). In keeping with the policy decision, the entire amount will be used to develop infrastructure in the suburbs. The government also hopes that the new policy will check the prices of flats in the suburbs. The policy provided that additional FSI will be granted on submitting an application. Initially, there was a row over the premium on additional FSI as there were fears that it would be on a par with the ready reckoner rates for flats in the suburbs. Later, though, the state government made it clear that it would be between 20% and 70% of the ready reckoner rates.

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