[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.|
Here I have important INDIA real estate news to share with you which is as mention under.
In order to stimulate growth in the real estate sector, the City and Industrial Development
Corporation (CIDCO) has decided to issue a provisional no-objection certificate (NOC) for
using additional floor space index (FSI) in Navi Mumbai. The use of additional is FSI allowed
under the ‘Unified Development Control and Promotion Regulations’ (UDCPR) 2020 across
Maharashtra, including municipal corporation and CIDCO areas.
The NOC will enable the licensee/lessee (plot or building owners) to obtain development
permission from the concerned planning authority like Navi Mumbai Municipal Corporation
(NMMC) or the Panvel Municipal Corporation (PMC) and CIDCO for its jurisdiction like Ulwe
and Dronagiri for the consumption of additional FSI.
CIDCO which has given the plots on lease in Navi Mumbai will allow plot lessee to use
additional FSI by collecting premium.
“The Provisional NOC for consuming additional FSI under UDCPR 2020, the licensee/lessee
will be able to initiate the development by obtaining development permission from the
concerned planning authority. This decision taken by CIDCO will surely stimulate growth
in the real estate sector of the region,” said Dr. Sanjay Mukherjee, Vice-chairman and
managing director of CIDCO.
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Have a nice day