Navi Mumbai metro corridor to get additional FSI

The City Industrial Development Corporation (CIDCO) recently passed a resolution to amend the general development control regulations for its Navi Mumbai project areas to grant additional floor space index (FSI) for the metro rail corridor. This means more FSI in areas up to 500 m from the metro corridor. This is in line with the Centre and the state's transit-oriented development (TOD) policies. The cost of the Navi Mumbai metro rail is primarily to be met by CIDCO land monetisation. The move to increase FSI will enable better value capture and enhance the project's viability. The Maharashtra government has already approved such a policy for the Pune and Nagpur metros.Make in Steel 202124 February Click for event info4th Indian Cement Review Conference 202117-18 March Click for event info The Mumbai Transformation Support Unit (MTSU), a think tank of the state government, had first suggested this many years ago for areas around Mumbai metro. They had also suggested an additional cess in property tax for buildings around the metro. These amendments will be effective after the final approval of the state cabinet. Sanjay Mukherjee, Managing Director, CIDCO, said that FSI is generally granted as road width, but areas up to 500 m will be given additional FSI. The corporation is the planning authority for Navi Mumbai and certain areas of Raigad district. CIDCO has planned four metro corridors. The first one between Pendhar and Belapur is almost ready, but operations are yet to begin as civil works of stations have not been completed. Work on the other three corridors—Dighe-Turbhe-Belapur, Mankhurd-Navi Mumbai airport, Ghansoli-Mahape—is yet to start.Image: Cost of the Navi Mumbai metro rail is primarily to be met by CIDCO land monetisation.