Higher Navi Mumbai FSI proposed to fund trans-harbour link

06 September 2008

Mumbai: The Mumbai Metropolitan Region Development Authority (MMRDA) is weighing the option of granting a higher floor space index (FSI) in the ''planned city'' of Navi Mumbai in a bid to raise funds for its trans-harbour link project that will connect the island city of Mumbai with the mainland.

The Mumbai Trans Harbour Link (MTHL), now being built by the state agencies after the MMRDA rejected initial bids by Anil Ambani Group firm Reliance Infrastructure (which was the lowest bidder), is estimated to cost around Rs7,600 crore project, according to sources.

Navi Mumbai reality will soon reach saturation point at the current FSI level, and a premium on extra FSI in Navi Mumbai, which is already a hot spot for realty, could be the easiest way of raising funds for the project, the report quoted MMRDA sources as saying.

The builders lobby is already pushing plans to redevelop old and dilapidated buildings built by the City and Industrial Development Corporation (Cidco) of Maharashtra over 20 years ago, as they think redevelopment could absorb much of the pending demand for houses in the developed nodes of Navi Mumbai.

MMRDA officials say the current infrastructure of Navi Mumbai could accommodate the increased flow of population since the city's plan has already factored in population growth.

Higher FSI in Navi Mumbai would also be a better option to permitting high-rises in South and Central Mumbai where the infrastructure is already stretched to its limits.