Increase in FSI by 0.5 value in Mumbai

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In a good news for Builders, the Maharashtra state government has approved 0.5 additional FSI (Floor Space Index or also called as FAR – Floor Area Ratio) in Mumbai for plots facing road with minimum width of 9 m. This additional FSI will be available at a premium of 60% of current guidance value (or ready reckoner rate) in the region where FSI is increased. FSI determines the usability of land area for construction and is calculated by = Total Built Up Area / Plot Area. This is directly linked to how tall a residential apartment can get.

Government is seeking feedback from residents in Mumbai on its decision.

With an increase of 0.5 FSI, the total FSI limit now stands at 2.5 FSI from 2.0 FSI for Mumbai metropolitan region. Mumbai suburbs had been approved with additional 0.5 FSI in December 2015 itself but Mumbai metropolitan area was untouched then. The minimum road width constraint of 9 m should prevent the abuse of this extra construction permission but it is yet to be seen if all areas with 9 m or more road width can even take more residents in the locality.

Understanding how this benefits builders:

-With old FSI value of 2.0:

Assume Builder has following land area: 10,000 sqft for construction

Builder chooses to construct only in: 1000 sqft of land to achieve higher floor height

Max Floors Builder could have built earlier: (2 FSI * 10000 sqft plot area)/ (1000 sqft construction area) = 20 Floors

-With new FSI value of 2.5:

New floor count limit: (2.5 FSI * 10000) / 1000 = 25 floors

0.5_increase_in_FSI_FAR_in_Mumbai

5 new floors can be constructed by the builder on same plot area. Which is a 25% increase in floor count. Builders are surely going to benefit commercially from this increase in FSI. It will be interesting to see if at all this increase in revenue translates to any decrease in apartment cost by builders for home buyers. 

Read how Bangalore is shaping its FAR and future developments in RMP 2031 article.

To get more insights on how to buy a perfect home, read our Home Buying Guide.

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