Redevelopment policies revised,civic body to earn more revenue

The controversial market redevelopment policy has been revised in a way that the BMC will earn more revenue out of it. The existing policy allows deals on its prime market properties without even calling for bids. A majority of 70 per cent licensees of the markets can appoint a developer and the civic body’s role is limited to verification of consents given by the licensees. The FSI sharing ratio between the BMC and the developer is 1:0.6 in the city and 1:1 in suburbs irrespective of the market value of the prperty. The FSI used to be between 1.33 and 2.5.

As per the new policy,bids will be called from developers so that the process is more competitive and transparent. Moreover,the BMC will not have to share the FSI. The civic body will call for tenders under Section 33 (21) of the Development Control Rules,which allows the BMC to avail itself of an FSI of 4 and offer Transfer of Development Rights (TDR) to the developer. As many as 25 markets,including the Crawford Market for which the civic body has issued an Annexure-II (eligibility list of occupants who will be rehoused),will be redeveloped by the developer brought in by the licensees,but the FSI sharing will be inversely proportionate to the market value of the plot.

“For the remaining municipal markets,the developer will be allowed to develop the market with an FSI of 1.33. For FSI more than that,he will have to pay a premium to the BMC,” Kumar said.

The open space policy has also been reworked to ensure that 75 per cent of an open plot that the developer is supposed to maintain for public is not usurped by him. As per the caretaker policy,an open plot can be handed over to a private body. A maximum of 25 per cent of the plot can be commercially exploited by the developer and 75 per cent has to be maintained by him.

Additional commissioner Aseem Gupta admitted that in most cases,this 75 per cent would be usurped by the private party. “The new policy is more competitive and a preference will be given to the local associations. The 75 per cent area will have to be developed and handed over to the BMC by the private party and he will also have to pay the BMC for its upkeep. This area will be guarded by the BMC so that it is not misused commercially.”

The estates policy has been reworked. The leased civic properties were redeveloped by private players earlier and after rehabilitation of tenants,the surplus area was given by the BMC to the private party at 50 per cent of ready reckoner. As per the new policy,it will be given at 100 per cent rate of the ready reckoner. There are 4,000 leased out BMC properties in the city at present.