NEWS

Mumbai: Parking lots under open spaces to get builders more FSI

March 26, 2019

Mumbai

Builders have the option to construct public parking spaces underneath private plots reserved for open spaces under the city's new development plan, the BMC said on March 25. In return, they will receive more construction rights on the portion of the plot.

The policy will come up for discussion before the civic improvements committee on March 28. Civic sources said it will benefit developers in upmarket localities and areas near railway and Metro stations. A senior civic official justified the new policy, stating that it will create more parking spaces around existing and upcoming stations.

Civic engineers said construction of underground parking is expensive and builders will go for it only in areas with high property prices.

The BMC, as part of the accommodation-reservation scheme under the new development control regulation (DCR-2034), allows developers to construct a building on 30% of a plot after consuming its developable potential and hand over the remaining 70% to the BMC as public open space. To make it more attractive for builders, the BMC has now added another feature to the scheme by giving builders additional FSI-TDR (transfer of development rights) for constructing up to two floors of underground parking beneath the open space portion. The lure is that developers can use the extra FSI-TDR to add more floors to the building.

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BMC hopes that builders will opt for the scheme as their buildings will get adjoining open spaces, which should be an attraction for buyers, helping builders secure higher rates on such flats. But an engineer said builders may opt for the scheme only in prime areas. "In such areas, builders can use the scheme and get more FSI to construct additional flats and make a profit after recovering an underground parking lot's construction cost," he said.

Civic officials said the BMC has created a parking authority that will examine requests keeping in mind the demand for parking in an area before a proposal is approved. They will also ensure that after constructing underground parking, the builder lays a proper garden on the ground above the parking lot, by using specified soil-sand layers of adequate depth to allow for the planting of trees.

The new DCR already has a provision of underground public parking under existing gardens and grounds in the BMC's possession, excluding prominent open spaces like the Oval and Cross Maidans.

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Source: content.magicbricks.com