50% Covid rebate for additional FSI remains until project completion

20 Nov 2023 CW Team

The Bombay High Court declared that the 50% discount granted by the state government to developers for purchasing additional Floor Space Index (FSI) during the pandemic would remain applicable until the completion of projects. The court directed the BMC to revalidate or renew building permissions without requiring payment of the differential premiums.

According to a Government Resolution (GR) dated January 14, 2021, a 50% rebate on additional FSI was offered for on-going and new projects, provided the premium was paid by December 31, 2021. The GR also mandated builders to cover the entire stamp duty for buyers in the economically-weaker section, as well as those in the lower, middle, and higher-income groups.

Nine developers, including Prestige Estate Projects, Sugee Two Developers LLP, Ankur Premises Developers, Mayfair Housing, and Evershine Builders, approached the court, alleging that the BMC was not renewing permissions that had lapsed after a year, despite projects having commenced. The BMC was demanding a substantial premium for additional FSI.

In an October ruling disclosed earlier this month, a bench of Justices G S Patel and Kamal Khata observed that the rebate was a "one-off" and applied only to projects that had paid premiums by the deadline and had undertaken full absorption of the stamp duty liability.

The BMC argued that, according to the GR, developers had to initiate construction within a year of obtaining the Intimation of Disapproval (IoD) certificate, followed by the Commencement Certificate (CC). The builders contested that this was not specified in the GR. The High Court remarked, "Very often, developers are unable to obtain CCs for reasons out of their control."

Real Estate

23 Sep 2025

Hyderabad Financial District Evolves into a City Within a City

The Financial District in Hyderabad is rapidly transforming into more than just a business hub—it is evolving into a “city within a city,” a compact ecosystem where work, home, education, healthcare, and lifestyle coexist seamlessly. This vision was reinforced at a press conference hosted by ASBL, where data and insights highlighted why the Financial District has become one of India’s most resilient and future-ready real estate markets. Over the past four years, rental appreciation has consistently outpaced the city average, underlining genuine demand. In FY 2024–25 alone, 3BHK ..

TOTO Expands Bathroom Portfolio in India

TOTO India has expanded its product portfolio with the launch of season-inspired basins, premium faucets, and a new water-efficient WC range. The new additions reflect the brand’s philosophy of combining Japanese craftsmanship, technology, and design with sustainable living. The season-themed basins, enhanced with TOTO’s CEFIONTECT glaze, are offered in four shades—Forest Green, Mandarin Orange, Scarlet Red, and Ash Blue—each inspired by a season. Complementing these are faucets in Rose Gold and Graphite finishes, crafted with PVD technology for durability and manufactured using p..

India Sees 1 per cent Drop in Power Sector CO₂ Emissions

India’s carbon dioxide emissions from the power sector fell by 1 per cent year-on-year in the first half of 2025, marking only the second decline in nearly 50 years, according to a research report. The reduction was largely driven by record clean-energy capacity additions and lower electricity demand due to unusually mild weather, the analysis by the Centre for Research on Energy and Clean Air (CREA) for Carbon Brief found.The Helsinki-based think tank attributed 65 per cent of the decline in fossil-fuel generation to slower demand growth, 20 per cent to faster expansion of clean energy, and..