City to get 32 four-storeyed parking lots State Revises Builder-Driven FSI Policy

Mumbai: The state government has approved 32 public parking lots under the revised parking floor space index (FSI) policy, creating space for over 30,000 vehicles in the city. 
    Of the 32 approved parking spaces, 20 are located in the island city, nine in the western suburbs and three in the 
eastern suburbs. 
    In all, the BMC received 70 proposals, of which 32 have so far been approved by the state government. Another 11 proposals cleared by the BMC are awaiting the government's approval. 
    To encourage private developers to build public parking lots, the state government in 2008 had announced a policy under the Development Control Regulation (DCR) 33 (24) which would grant the developer up to four FSI in exchange for construction of parking lots. But the original policy had to be revised after experts termed it as builderdriven. 
WHAT IT MEANS 

• According to the revised policy, any developer who builds a public parking lot and hands it over to the BMC for free, will get up to FSI of 4 on a new construction on a plot of over 1,000 sqm in the island city and over 2,000 sqm in the suburbs 

• Developer has to pay 40% premium for additional FSI 

• Developer can build only ground-plus-four levels of parking floors 

• The civic corporation has so far collected over Rs 250 crore as premium