Jignesh Vira (Proprietor) 12 June 2016

Fungible fsi

we are tenants of a redevelopment property. Decree was passed between Tenants & Developers & Landlords in 16/06/2010 where as per Clause No. 34. is as follows

" The Defendants ( Tenants) agree that the Plaintiffs ( Developers) are entitle to utilize and consume the entire FSI and Other Advantages, benefit and privilege of the suit property which may be available at present or in future by way of amendment to rules, regulations, bye-laws and the Defendants hereto give their express, consent and no. objection to the plaintiffs to use and utilize such FSI and other advantages, benefits and privileges as the plaintiffs may deem fit and proper till the Possession of the permanent alternate accommodation is handed over to the Defendants. "

In Jan 2012 the law of Fungible FSI for Rehab purpose was announced by the Municipal Corporation. I just wanted to know as of till date the matter is subjudice. we have not entered in to agreement with developer, are we entitle to get benefit of Fungible FSI. ( The developer has Sanctioned his Plans With Taking Benefit of Fungible FSI )
your reply will be highly appreciable.
Thanking You.

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2 Replies

adv.bharat @ PUNE (Lawyer) 12 June 2016

As u had allrady given consent to builder for use of FSI u may work accordingly.

Jignesh Vira (Proprietor) 12 June 2016

D.C. Regulation 35 (4)
Compensatory Floor Space Index ( FSI ) :
Notwithstanding anything contained i n the D.C. Regulations 32, 33 & 34, the Commissioner may, by special permission, permit fungible compensatory Floor Space Index, not exceeding 35% for residential development and 20% for Industrial/Commercial development, over and above admissible Floor Space Index, by charging a premium at the rate of 60%, 80% and 100% of the Stamp Duty Ready Recknor Rate, for Residential, Industrial and Commercial development respectively.

Provided in case of redevelopment under regulation 33 ( 7 ), 33 (9) & 33 ( 10 ) excluding clause no. 3.11 of Appendi x-IV of Development Control Regulation 1991, the fungible compensatory F.S.I. admissible on rehabilitation component shall be granted without charging premium. Provided further that redevelopment under D.C. regulations no. 33 (5) and redevelopment proposal of existing buildings in suburbs and extended suburbs by availing TDR, the fungible compensatory F.S.I. admissible on F.S.I. consumed in existing structure shall be granted without charging premium. Provided further that such fungible compensatory FSI for rehabilitation component shall not be used for free sale component and shall be used to give additional area over and above eligible area to the existing tenants / occupants.

Provided, that this regulation shall be applicable in respect of the buildings to be constructed or reconstructed only.