Mumbai: The state housing board will prefer to demand tenements instead of money from developers, who have been allocated incentive floor space index (FSI) for redevelopment of low cost housing colonies, owned by the board.

The state urban development department recently amended a clause in the development control regulation 33(5) related to Maharashtra Housing amp; Area Development  Authority (Mhada) low cost housing colonies. It allowed the developers an option of paying a premium instead of 60% share from the incentive FSI allotted to them for redeveloping such colonies.

A notification issued by the urban development department (UDD) on December 6 stated that - in redevelopment schemes of Mhada colonies, the developer could either share the incentive floor space index with Mhada in a ratio of 40:60,or deposit a premium at state-decided rates for the additional area provided.

DNA was the first to carry a report in its November 29 edition elaborating on how the last minute revision will impact the creation of additional housing stock in the city. While announcing the incentive floor space index, former chief minister Vilasrao Deshmukh had promoted the move.

He had said that this would lead to creation of at least 2.5 lakh affordable homes.

Now, Mhada has made it clear that it wants to retain the land share over the premium. The body is expected to put forth this demand when it submits a presentation on Mhadas work and projects to chief minister Ashok Chavan, on Wednesday.

Gautam Chatterjee, vice president and CEO, Mhada said, "Even if both the options were available, the authority will insist that the right to exercise the option remain with Mhada."

More than 104 layouts covering 1,300 hectares of land and housing 2 lakh residents are in Mhadas possession.
Source : Central