NAVI MUMBAI: In a key development this election year, Cidco has mapped out the need for granting floor space index (FSI) of 3 for redevelopment of old and dilapidated buildings it has developed in its own and the Navi Mumbai Municipal Corporation area.
It has also proposed that it would not charge any lease premium for redevelopment projects as the increased FSI would enable it to apportion its own share from the developed properties. The current proposal includes buildings that are more than 30 years old.
A source said, "The proposal was under discussion with principal secretary, urban development, NMMC, and other nodal government bodies for the last two months. If the board passes the resolution, then it will be forwarded to the state government as it would require change in the development control rules."
Sources said, "The grant of enhanced FSI had earlier been proposed only for Cidco areas from Kharghar onwards where it is the planning and development authority. But, it now wants to include old structures it had developed in the NMMC area also."