In a significant move that would cheer the plot holders and house owners, the Nagpur Municipal Corporation (NMC) on Friday increased the area of Floor Space Index (FSI) by 33 percent for residential purpose. The General Body Meeting of NMC gave its stamp of approval for the proposal to increase the FSI. The decision will facilitate construction in wider areas.
A proposal to increase area of FSI by 33 percent for plots over 200 sq mtr except in conjested and thickly populated areas was tabled in the General Body Meeting of NMC. However, the Meeting summarily increased the FSI to all the plots forbidding the minimum size area limits for providing benefits to wider sections of the people. For receiving the additional FSI, the plot holders will have to pay 33 percent premium of Ready Reckoner for residential purpose and 66 percent premium for commercial purpose. The additional premium revenue will go into the NMC coffers on the lines of Kolhapur Municipal Corporation. Earlier, 50 percent revenue to State Government and 50 percent premium revenue to NMC was proposed by the members stuck to the Kolhapur line and approved the proposal in NMC’s favour.