The developers will get an increased incentive (saleable flats) as the floor space index (FSI) of rehab components goes up.
Mumbai: The Development Control and Promotional Regulations (DCPR) 2034 will hit affordable houses of Mhada in the island city. Mhada will lose its share of affordable houses, which it gets through the redevelopment of cessed buildings, with new carpet area rules. The developers will get an increased incentive (saleable flats) as the floor space index (FSI) of rehab components goes up. This will affect the surplus share the housing authority gets in terms of houses every year. These houses are sold under the Mhada lottery.
The housing authority has decided to take up the matter with chief minister Devendra Fadnavis and introduce modifications to the rules.
The cessed buildings located in south Mumbai are redeveloped under the DCR 33(7) policy once they are declared as dilapidated. There are 16,000 cessed buildings in the city, which houses 30 lakh residents. However, with DCPR 2034, there has been a significant change in the carpet area. “If the incentive goes up with the FSI, the surplus we get will be nil in future. We are planning to take up this issue with the CM and demand modification in the policy,” said Uday Samant, president, Mhada.
The authority gets surplus from the developers after a redevelopment project. Thus, bigger houses for tenants will cost Mhada its share of the affordable housing segment.
Mhada received around 50 houses for the 2018 lottery, as surplus from developers. The costliest flat of `5.80 crore at Grant Road was received by the authority as surplus.
The original cost of the flat in the market was between `7 and `8 crore. Home buyers will be able to purchase it under a lottery at cheaper rates. However, with new DCPR changes, the possibility of receiving surplus flats will be nil in future.
Meanwhile, NAREDCO (National Real Estate Development Council) had held a knowledge seminar on DCPR 2034 Wednesday, where Mr Fadnavis as well as civic chief Ajoy Mehta were felicitated.