State govt nod for 2 parking FSI projects

Bldrs To Fork Out 150cr For Construction Mumbai: The state governmenthasclearedtwo public parking projects in Mulund and Worli under its parking floor space index (FSI) policy and will earn nearly Rs 150 crore as premium from builders developing them.      The policy stipulates that a developer who builds a public parking lot on a part of his land and surrenders it free of cost to the BMC, will receive additional construction rights as compensation on the remaining portion.      Allegations of graft were levelled at the policy, which was introduced in 2008, forcing chief minister Prithviraj Chavan to scrap it in 2011. New guidelines formulated by BMC chief Subodh Kumar levied a premium on builders opting for the scheme. Last month, the state government sanctioned Runwal Group's proposal to build a parking lot spread over one million sq ft in Mulund. The land is part of a 20-acre plot where the builder is setting up a residential complex. The amenity will have ground and two underground basements. As compensation Runwal will receive an FSI of 3 for constructing the facility free of cost for the civic body. The builder will also pay a premium of Rs 40 crore, which will be shared equally by the state government and the BMC.      "The parking lot will have a separate entry and exit from the residential complex," said group director Subodh Runwal.      The state government and the BMC will earn Rs 108 crore as premium fromdeveloper K Raheja Corp, whose plan was cleared sometime ago. Raheja will build the public amenity on a portion of its two-acre property in Worli. Late last year, the BMC withdrew the initial permission to 10 of the 15 developers and asked them to submit their proposals under the amended policy framed by Kumar.      The new policy devalued the price of their lands by 30% to 40% because thesedeveloperswereentitledtohefty building concessions under the original policy. The original policy allowed developers to build public parking towers as high as 15 to 20 storeys. In return,thebuilder received a bonanza in the form of additional FSI.      Using the extra FSI, some builders who benefited, announced plans to build luxury skyscrapers. Activists slammed the policy saying it would benefit builders under the guise of providing public parking.  On The Cards  • Runwal Group's proposal to build a parking lot for 1,700 vehicles in Mulund • K Raheja Corp's parking lot for 800 vehicles in Worli

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Now, BMC pushes TDR in island city

Mumbai: A BMC proposal seeks to completely overhaul the transfer of development rights (TDR) policy to make it more equitable, in a move that is expected to have far-reaching repercussions on the city's development plan. 

    In his plan which is to be submitted to the state government soon, BMC chief Subodh Kumar has proposed that TDR be allowed anywhere in the city, not be restricted to the suburbs. Its selective use in highend areas of the western suburbs has led to lopsided development, especially in the Bandra-Khar-Juhu belt. 
    A construction boom due to TDR in these localities has put a severe strain on the civic infrastructure, with towers rising on narrow roads with inadequate parking.
PLOTTING A CHANGE 

• Plan says TDR must not be restricted to suburbs. Move to check lopsided development and quicken land acquisition for public welfare 

• Owners to get 1.3 times the plot potential as TDR 

• Non-cessed buildings in island city to get extra 1.33 FSI as TDR 

• Ready reckoner rates of area to determine TDR Activists may oppose new TDR proposal 
Mumbai: With construction boom in some parts of the city putting a strain on infrastructure in those areas, civic commissioner Subodh Kumar is keen to put an end to this "serious distortion" that has been going on for two decades. 
    TDR, introduced in 1991, is a compensation given to private land owners whose properties are reserved by the BMC for public amenities like parks and playgrounds. The owner receives equivalent construction rights which can be used anywhere north of the plot he has surrendered. However, most land owners with high-value properties in the island city were reluctant to hand over their lands because the TDR value in the suburbs was not lucrative enough. As a result, the BMC failed to acquire such amenity plots and the policy faltered. On the other hand, builders redeveloping slum pockets in low-value localities (Mankhurd--Trombay for instance) made obscene profits by using the TDR entitled to them in premium areas like Bandra, Khar and Juhu. 
    The BMC has now proposed that land owners be offered 1.3 times the plot potential as TDR. "This will ensure that compensation is in line with the actual market value, or marginally less or more…the development plan will get implemented speedily without financial cost to the BMC and land acquisition will not be long-drawn,'' the corporation's proposal said. 
    Kumar refused to comment on the new policy, but a developer who has procured a copy of the proposal told TOI, "The new policy may help improve availability of open spaces and reduce discrepancies in the TDR business." However, the proposal is likely to be opposed by urban experts and activists, who fear that allowing TDR in the island city will aggravate the problem. 
    But Kumar's plan says TDR should be generated and consumed uniformly across the city, "reversing imbalanced development in the suburbs". It has recommended that non-cessed buildings in the island city—currently allowed a floor space index (FSI) of just 1.33 during redevelopment, be sanctioned another 1.33 as TDR, taking the total FSI to 2.66. However, cessed buildings, most of which were built more than 70 years ago, today receive virtually unlimitedFSI when they are redeveloped. The commissioner has suggested that FSI up to 4 be allowed on such plots. "The balance, if any, shall be given in the form of TDR'' which can be utilized at another place. "The new policy will take into account relative values of the stamp duty ready reckoner from the area where TDR is generated, the place where it is used and the year in which it is utilized,'' it says. The TDR value will now be linked to the place where it is generated.

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