Mumbai: Maharashtra chief minister Prithviraj Chavan announced major changes in additional floor space index (FSI- indicates permissible construction on any plot of land) in lieu of creation of public parking lots. Now builders will have to pay 40% premium on market value of additional FSI, which they will get in lieu of creating a public parking lot.
State government came out with a policy of creating giving additional FSI to builders in lieu of creating parking lots in 2009. The policy was severely criticized by town planners as it created additional pressure on civic amenities in already congested area.
After Chavan took over reins of government in November 2010 he ordered review of policy. The chief minister made this announcement while speaking with reporters in New Delhi said a press release issued by state government’s publicity department on Wednesday.
