Ending confusion over collection of premium amount from the additional Floor Space Index (FSI) allowed in the transit-oriented development (ToD) zone of Pune Metro Rail, the state government has clarified that Pune Municipal Corporation (PMC) would retain 50 per cent of the amount collected from additional construction in the zone.
The remaining 50 per cent, it said, would be handed over to the Maharashtra Metro Rail Corporation Limited (MMRCL) for raising funds for Pune Metro Rail. As per a government resolution, the ToD policy has been adopted by the state, and in March technical rules were set for its implementation.
“It was necessary to fix the revenue-sharing model between PMC and MMRCL for revenue to be collected as premium charges while allowing additional FSI for construction of buildings in ToD zone,” the resolution said. The state government has maintained that PMC, which is the the planning authority, should fix the premium amount to be charged on additional FSI to be allotted in ToD zone, it said. “The 50 per cent of the premium collected should be retained by the civic body to undertake basic infrastructure project and the remaining half should be handed over to the Maharasthra Metro Rail Corporation,” the resolution stated.
It would be the responsibility of the planning authority to inform the land owner or developer about the premium amount payment after getting the application for additional FSI for construction purpose. The premium collection policy will not be applicable for government properties.
Floor Space Index (FSI) or floor area ratio (FAR) is the total ratio of the cumulative area of all the floors from all the buildings to the size of the land on which such buildings are made.
In March, the state government had decided to make ToD applicable for 500-metre radius of metro stations instead of earlier proposed metro corridor. The move came after PMC had raised a concern over ToD being made applicable for the entire metro corridor, while raising the issue of basic infrastructure development for the construction of
The state government has allowed a maximum of four FSI in the ToD which depends on road width and plot size. The bigger size plots, up to 4,000 sqm on the 30-metre-wide roads, would be applicable for additional four FSI in the ToD zone.
The concept of ToD was proposed by the Delhi Metro Rail Corporation (DMRC) in a detailed project report prepared for Pune Metro Rail so as to raise funds for the project. The Pune Metro Rail is being implemented by the Maharashtra Metro Rail Corporation Ltd for which money is raised through loans from international financial institutes. The Pune Metro Rail will have to repay the loans by raising funds from the ToD.