What is the government’s reaction? Is it amending the town planning Act to enable higher FSI?
The government had taken a bold decision to increase the FSI to 1.33 from 1 against a premium in the suburbs. FSI in the suburbs was a pragmatic economic policy in favour of citizens. The premium charged will generate funds for development of infrastructure in the city. The high court order has really hurt us. There is a need to review the high court order as there is every possibility that realty prices will go up further. Further, the state government will amend the Maharashtra Regional Town Planning Act of 1966 to insert the term “premium” in the relevant sections. This will allow higher FSI for a higher price. However, the government has done little to curb cartelisation of the Transferable Development Right, or TDR? I disagree with this. In fact, the government’s intention to increase FSI at premium to 1.33 from 1 in suburbs was with a sole objective to control cartelisation. The government, as I said earlier, is open for a legal review of the high court order. Slum rehabilitation
