City to get one lakh more affordable houses - 0 views
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Pranali N on 24 Apr 13In a boost to redevelopment of Maharashtra Housing and Area Development authority (mhada) colonies, the state government has hiked its Floor space Index (FSI) to 3, which will mean an extra 1 lakh affordable house in the City. In another major step, the state also announced that it would put a cap of 35% to 90% as incentive area to be given to existing residents. Chief minister Prithviraj Chavan announced the new guidelines in the legislative assembly on Thursday. Chavan said, "We have decided to hike FSI to 3 from the existing 2.5.Also, we noticed builders making unreasonable offers and hence, have decided they can give an additional area of 35% to 90% to the existing tenants." He said in case Mhada itself redevelop the colonies, an extra 10% incentive area would be given to tenants. However, he clarified that the minimum area given to tenants would be 300 sq.ft.