Wednesday, August 03, 2011
Builders exploit FSI rules, buyers face music
MUMBAI: In several upmarket areas, builders get proposals sanctioned for smaller flats than they actually sell. In such instances, the buyer, or flat owner, can end up becoming the lawbreaker, making him vulnerable to extortion by corrupt civic officials in the long run.
The builders pay the civic body a pittance in development charges and scrutiny fees for the BMC-approved carpet area, and then 25% of the Ready Reckoner rate as premium for the extra Floor Space Index (FSI). They, however, charge flat buyers market rates for both the carpet and additional FSI areas. The BMC building proposals department has reportedly approved plans for such buildings in areas stretching from Malabar Hill to Gamdevi, Girgaum, the Parel mill areas, Elphinstone Road, Dadar, Bandra, Khar,Santa Cruz and the Juhu Vile Parle Development Scheme.
Drawings with TOI show that the intention is clearly to amalgamate extra spaces with the original carpet area to create one large flat. A 1,500-sq-ft flat can grow to 2,500 to 4,000 sq ft and cost Rs 10 crore to Rs 16 crore.
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