BMC makes use of FSI bonanza

After the state government on Monday announced an FSI of 4 for development of low cost housing on mill lands, it is now the turn of the Brihanmumbai Municipal Corporation (BMC) to accord higher FSI to developers, with some deviations from the existing market redevelopment policy.

The BMC plans to develop a vacant plot at the Colaba municipal market by according an FSI of 2.5. The market falls under the Coastal Regulatory Zone (CRZ) and the permissible FSI over the land is 1.33. Deviating further, the municipal body has decided not to invite tenders for the redevelopment process. The market redevelopment policy approved by the state in 2005 requires the civic body to invite competitive bids awarding development rights to the highest bidder. The BMC has appointed M/s Aloka Commercial Pvt Limited and M/s Leena Builders as developers and M/s Mhatre & Associates as architects.

Going by the BMC’s proposal —  to be put up before the Improvements Committee on November 9 —  the deviations would facilitate its commitment towards accommodating 120-odd fisher folk and vegetable vendors doing business in and around the market, but highly placed civic sources suggested that money had changed hands.

The rationale given for not inviting tenders is that the administration had twice attempted to develop the partly-vacant plot through private party partnership by inviting tenders. The attempts, however, received little response. The existing building with the developed area will be leased to the developer for 60 years at a rate of Rs1,001 annually. The developers, after rehabilitating the vendors, will derive a saleable component of 981.63 sq m, while the BMC will get 1227.96 sq m.  A gift to private parties?