Aakar Realty Enterprises '_____ Realty Mediators

The commissioner of Mumbai Metropolitan Region Development Authority (MMRDA) planning to introduce flexible Floor Space Index (FSI) norms to developers in order to enable them to construct with viable rental housing tenements. FSI defines the permissible built-up area on a plot. According to the commissioner of MMRDA Rahul Asthana, “usually developers found the FSI of 4 obligatory in the rental housing scheme which is not suitable in several areas. While reviewing the rental accommodation schemes Asthana spearheaded the experts panel had proposed to the state government in a bid to improve the project. The board is planning to make more flexible and effective to rental housing plan. Whereas, state government is planning to build around 5Lakh affordable rental housing units which ranges from Rs 800 and Rs 1,500 per month. “Approx 30, 000 housing units measuring 160 sq ft each are under construction, but the scheme has run into a hurdle. “Under the scheme, 15 to 20% of the units shoul...

 The city of Mumbai has a reason to smile as the Mumbai Metropolitan Region Development Authority (MMRDA) is ready with the draft development plan for 43 square kilometers of recreation and tourism zone in and around Gorai, Manori and Uttan. “The development plan has been prepared keeping the environmental and heritage sensitivities in mind. The heritage culture of the area includes age old churches, temples etc. Fishing and fishing related trade is the livelihood of the locals and that was on top priority while preparing the plan”, said Mr.Dilip Kawathkar, Joint Project Director (PR), MMRDA. The 43 square kilometer zone will provide for various environment friendly projects such as botanical garden, mangrove park besides recreational facilities. The monumental Global Pagoda will remain the key attraction for the tourists and the city people alike for its sheer size, glamour and the calming effect. The mangrove park is certain to provide vital shelter belts to protect inland homes...

An amendment in the Development Control Regulation 33 (9) pertaining to cluster redevelopment has given tenants of old, cessed buildings in the island city the right to select their own builder. However, the ultimate power to sanction such schemes still rests with the landlords as without their consent no redevelopment can take place. Last week in Nagpur, the state urban development department issued a notification amending the rules. According to the amendment, if 70% of tenants come together, they can select a developer of their choice. Once this process is done, the department would give them a letter of intent (LoI). Before this amendment, the right of selecting the developer rested only with the landlord. “It is possible that tenants would have been forced by the landlords to select the developer. The only reason to amend the existing rules was to give tenants a choice to select the developer,’’ said T C Benjamin, principal secretary, urban development. According to the ear...

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