Move to add Rs 200 crore to coffers,says civic chief

Municipal Commissioner Subodh Kumar,who has been pushing for states approval to the additional 0.33 FSI in the suburbs,said on Wednesday that the move is expected to bring revenue worth Rs 200 crore to civic coffers in the current financial year.

Municipal Commissioner Subodh Kumar,who has been pushing for states approval to the additional 0.33 FSI in the suburbs,said on Wednesday that the move is expected to bring revenue worth Rs 200 crore to civic coffers in the current financial year. This is the second such policy decision recommended by Kumar,which will increase the BMCs revenue from the real estate sector.

While Kumars revised DCR policy,which proposes to include ornamental projections in buildings under FSI and charge premium on the same,has invited more than 900 suggestions and objections mostly from builders,the decision to grant 33 per cent additional FSI in suburbs is something the builders have been trying to get approved since it was first proposed in 2008.

Countering arguments that the additional FSI will cause a spurt of development in the suburbs and strain its infrastructure,Kumar said the overall cap on FSI,which is two at present,will remain the same. It is a wrong notion that the extra FSI will put a burden on infrastructure. Even now,all projects in the suburbs consume a total FSI of two by purchasing TDR. At least by allowing an extra 0.33 FSI,the state government and the BMC together are estimated to earn a revenue of Rs 1,000 crore in the next financial year Rs 500 crore each for the BMC and the state government, he said.

Following UDD Principal Secretary T C Benjamins note to the Chief Minister earlier this year,asking for scrapping the proposal to grant extra FSI,the latter directed Kumar to file a detailed report on BMCs stand. Soon after,Kumar opposed UDDs arguments,stating that there would be no significant change in the Development Plan owing to consumption of additional 0.33 FSI and will,in fact,boost the BMCs revenue and help control TDR rates.

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Move to add Rs 200 crore to coffers,says civic chief

Municipal Commissioner Subodh Kumar,who has been pushing for states approval to the additional 0.33 FSI in the suburbs,said on Wednesday that the move is expected to bring revenue worth Rs 200 crore to civic coffers in the current financial year.

Municipal Commissioner Subodh Kumar,who has been pushing for states approval to the additional 0.33 FSI in the suburbs,said on Wednesday that the move is expected to bring revenue worth Rs 200 crore to civic coffers in the current financial year.