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Home buyers in Mumbai have nothing to cheers over eased premium payment on FSI

Home buyers in Mumbai have nothing to cheers over eased premium payment on FSI

Recent relaxation in payment of premium towards fungible FSI by various authorities though will reduce the financial burden on developers and thus lead to a lot of inventory getting freed for sale, this will not lead to price reduction for home-buyers, say industry experts.Fungible FSI was first introduced by the BrihanMumbai Municipal Corporation (BMC) in 2012 to bring in added transparency towards usage and development of free FSI.Recently, the state administration, the BMC and the Slum Rehabilitation Authority had relaxed the payment premium on complementary FSI, to ease financial burden on developers and encouraging them to complete their projects in time.

Source :-ET Realty