Potential F.S.I. for your society redevelopment
By Adv. Vinod Sampat and Adv. Dharmin Vinod Sampat
Q. Please give an idea of the FSI available under different schemes?
Ans: The FSI granted is as under.
|1||33(4)||Starred category residential hotels:-1 To 3 Starred category hotels.
4 Starred category hotels.
5 Starred category hotels.
|3.00 + 0.50 TDR
3.00 + 0.50 TDR
3.00 + 0.50 TDR
|33(5)||Development/ Redevelopment of Housing scheme of Maharashtra housing and Area Development Authority.
|2.5(Incentive F.S.I of 50% will be given to area up to 4000 Sq.mt. and 60% for above 4000 Sq.mt)+ TitBit F.S.I + Entire Layout F.S.I + Fungible F.S.I||2.5(Incentive F.S.I of 60% will be given to area up to 4000 Sq.mt. and 75% for above 4000 Sq.mt)+ TitBit F.S.I + Entire Layout F.S.I + Fungible F.S.I.
|3||33(6)||Reconstruction of building destroyed by fire or which have collapsed or which have been demolished||F.S.I in New Building not to exceed that of Original Building.|
|4||33(7)||Reconstruction or Redevelopment of Cessed building in the Island City by Co-op Hsg. Society or of old building to corporation or of old building belonging to police department.
|F.S.I of more than 3.00 for chawls/ building constructed before 1940 and additional incentive F.S.I of 50% for utilized area for rehabilitating existing Tenants||NIL
|33(7)||In many buildings FSI is consumed to the tune of 2 to 2.40. I have been given to understand that Oberoi hotels has been granted 9 fsi. If one presumes that the FSI which is consumed is 2.40. The fungible fsi would be .35% approx. The Rehab component with lift and other available incentives can result in fsi up to 4.If there are three or more plots incentive fsi of up to 70% is permissible. Gross construction area of up to 8 is possible.It is advisable to ask for a feasibility report as regards the construction that would be done by the builder.
Your agreement should be drafted in such a way that you are adequately protected preferably by a professional who is aware of the ground realities.
|5||33(8)||Construction for housing of Dishoused.||4.00||4.00|
|6||33(9)||Reconstruction or redevelopment of cessed building, urban schemes on extensive area||4.00 + Incentive F.S.I for rehabilitation of existing tenants|
|7||33(10)||Slum Redevelopment Scheme||2.5 + discretionary F.S.I for difficult area|
|8||33(13)||Development for project affected persons of slum Dwellers/ Pavement Dwellers||2.5||2.5|
|9||33(9)||Provision relating to Transit Camp Tenement for Slum Rehabilitation Scheme.||2.33||2.50|
Why property redevelopment on BMC LAND in Sion / Matunga is not taking place.
- Lease period is reduced from 60 years or higher to 30 years.
- Lease rent is very high.
- Premiums have to be paid in advance by developer.
- Compulsory open space to be left.
- Corpus fund does not take care of the increased maintenance costs.
- Getting consent from tenants is not easy.
- There are some tenants who create nuisance value.
- Property card is not in the name of the legal entity.
- There are disputes amongst legal heirs.
- Properties with clear and marketable title are a scarce commodity.
- If it is a CHS the court fee that has to be paid could be Rs. 3 Lakhs which adds to the budget of the builder plus approx. 5 Lakhs lawyers fee accompanied by uncertainty as regards the quantum of time that would be taken.
POINTS TO BE TAKEN INTO CONSIDERATION BY TENANT/CHS BEFORE ENTERTING INTO AN AGREEMENT WITH LANDLORD / DEVELOPER WHEN BUILDING IS GOING FOR REDEVELOPMENT
- ACCEPTANCE OF LANDLORD OF TENANTS RIGHTS
- AGREEMENT SUPERCEEDS EARLIER OFFERS
- AMOUNTS PAID BY DEVELOPER TOWARDS LEGAL FEES OF TENANTS ADVOCATE
- ARBITRATION AND COST OF ARBITRATION TO BE BORNE BY DEVELOPER
- ASSIGNMENT OF RIGHTS BY TENANTS
- BENEFITS IN EXTRA FSI/TDR
- CAR PARKING
- CAR PARKING RIGHTS
- CARPET AREA & AMENITIES OFFERED BY DEVELOPER TO TENANT
- CARRYING OUT FURNITURE WORK IN PREMISES BEFORE TAKING POSSESSION
- CERTIFIED SOFT COPY TO TENANTS ADVOCATE
- COMMON UTILITIES TO BE PROVIDED
- COMPLETION OF THE PROJECT BY TENANT IF THERE IS DELAY BY DEVELOPER
- COMPLIANCE OF RULES AND REGULATIONS OF STATUTORY AUTHORITY
- CONSENT OF TENANTS FOR BECOMING MEMBERS OF C.H.S LTD
- CONTRIBUTION BY TENANT WHEN HE ACQUIRES FLAT AS OWNER TOWARDS SOCIETY FORMATION,VAT SERVICE TAX
- CORPOUS FUND PAYABLE BY DEVELOPER TO TENANT
- COVENANTS BY TENANT
- DAMAGES TO BE ADJUSTED AGAINST AMOUNT PAYABLE BY TENANT TO DEVELOPER
- DEBRIS OF BUILDING
- DEVELOPER NOT TO CREATE THIRD PARTY RIGHTS
- DEVELOPER TO BEAR ENTIRE COST RELATED TO REDEVELOPEMENT
- DEVELOPERS DECLARATION WITH REGARDS TO PARTNERS
- ENCUMBRANCES AND CLEAR TITLE OF PROPERTY
- EXCLUSIVE RIGHT OF TENANT WITH REGARDS TO FLAT
- EXECUTION OF FURTHER DOCUMENTS
- FLAT PURCHASER LIABLE TO PAY OUTGOING OF THE SAID FLAT
- FORMATION OF COOPERATIVE SOCIETY
- HANDING OVER OF DOCUMENTS TO LEGAL ENTITY BY DEVELOPER
- HANDING OVER OF FLAT
- HANDING OVER POSSESSION OF FLAT WITH OCCUPATION CERTIFICATE
- HEIGHT OF FLAT
- LIEN FOR PERFORMANCE OF DEVELOPERS OBLIGATION
- MODE OF COMPENSATION FOR ALTERNATE ACCOMMODATION
- MOF ACT APPLICABILITY
- OBJECTIONS FROM REPRESENTATIVE OF TENANT WITH REGARDS TO TENANTED PREMISES
- PAYMET BY TENANT TO DEVELOPER FOR ADDITIONAL AREA
- PLANS AND OTHER DOCUMENTS TO BE GIVEN TO TENANTS ADVOCATE
- PLANS TO BE SUBMITTED TO MUNCIPAL AUTHORITIES TO BE SHOWN TO TENANTS
- POSSESSION OF FLAT FIRST TO BE OFFERED TO TENANT
- POSSESSION TO BE HANDED OVER TO LEGAL HEIR ON DEMISE OF TENANT
- PROPERTY TAX ASSESSMENT
- RAISING OF LOAN BY TENANT FOR PURCHASE OF EXTRA AREA
- REDEVELOPMENT AND INCEDENTAL EXPENSES TO BE BORNE BY DEVELOPER
- RENT NOT PAYABLE BY TENANT FROM THE DATE OF VACATING PREMISES
- REPAIRS AND MAINTENANCE OF THE BUILDING
- SIGNING OF NOC AND OTHER DOCUMENTS
- SIMILAR AMENITIES TO EXISTING TENANTS AND NEW FLAT PURCHASER
- STAM DUTY AND REGISTRATION FEE
- TENANT MONTHLY TENANT AS REGARDS FLAT NO._______
- TENANT TO VACATE PREMISES AND SHIFTING TO ALTERNATE ACCOMMODATION WITH RENT PAYABLE BY DEVELOPER IN ADVANCE
- TENANT UNDERSTAKES TO COOPERATE WITH DEVELOPER
- TENANTS NOT TO DAMAGE THE STRUCTURE OF THE BUILDING
- TENANTS RIGHTS GET CONVERTED AS OWNERSHIP RIGHTS IN FLATS
- TERRACE OWNERSHIP AND HOARDING RIGHTS
- THIRD PARTY RIGHTS IN FREE SALE COMPONENT BY DEVELOPER
- TIME FOR SANCTION OF PLANS
- TIME LIMIT FOR VACATION OF PREMISES AFTER RECEIPT OF IOD
- TIME LIMIT WITHEN WHICH PREMISES WILL BE HANDED OVER TO TENANT AND DAMAGES FOR DELAY
- TRANSFER OF TENANCY RIGHT NOT TO BE EFFECTED ON VACATING THE PREMISES
- USE OF PREMISES
- WAIVER OR BREACH
APPROXIMATE TIME TAKEN FOR DIFFERENT STAGES OF CONSTRUCTION
Q.: Please give an idea as regards the approximate time taken for different stages of construction.
Ans.: The approximate time that is taken for different stages of construction could range between 2 to 3 years. It would depend on the number of floors. The modalities pertaining to the same are as under:
The first stage i.e. Intimation of Disapproval takes approximately 4 months. In these particular stage elementary calculations pertaining to the property is done. This includes looking at the potential as regards development of the property. Basic calculation being to the size of the plot, permitted construction thereon, Once this stage is over one has to go to the second stage. The second stage is Commencement Certificate up to plinth level. The Commencement Certificate up to plinth level is given when the premises have been vacated by all. The existing structure is demolished. There is no construction on the site. In this particular stage, before granting permission, N.O.C. from various departments and other documents have to be submitted like Garden N.O.C., Structural R.C.C. Plans and calculations, Traffic N.O.C., Fire N.O.C. Joint inspection by the Municipal authorities and the Architect is undertaken. For obtaining Commencement Certificate up to plinth level the approximate time is 1 month from the date of joint inspection.
Further C.C. is obtained normally within 15 days from inspection. Eg. Gr plus 4 floors. Further CC is given if the necessary compliances up to the relevant floor is obtained. When the building is fit for occupation up to a particular floor part occupation certificate may be granted. Normally builders take occupation certificate as the procedure for obtaining building completion certificate is tedious and expensive. Once the entire building is completed in all aspects then only full C.C. is obtained.