FSI in Mumbai needs review: Ajay Maken

The floor space index (FSI) in Mumbai needs to be reviewed on an urgent basis, according to union housing and urban poverty alleviation minister Ajay Maken.

He said though 50 per cent of the city population lived in slums, it contributed towards the economic  growth of the city as also of the country, he said, while addressing a conference organised by the Confederation of Indian Industry (CII) along with the Centre for Policy Research (CPR).

He said the current FSI policy needed to be reviewed and appropriate changes made to boost affordable housing in the city. ''The state government should do this. They should seriously consider increasing the FSI,'' he said.

''Affordable homes are needed even in premium locations. It can improve the urban housing as well. It can be treated as a real estate sub sector.''

According to Paras Gundecha, president of the Maharashtra Chamber of Housing Industry (MCHI), every now and then the government announces that FSI would be increased with the real estate industry given the infrastructure status, but it never happens in reality.

''Mumbai needs a minimum FSI of 4 where space crunch is a big problem,'' he said. ''Paucity of space leads to price rise. If the government allows us more FSI, we can create more inventories. It will bring down housing prices. Mumbai is the only city in the world which has a lower FSI despite high density.''