Summary:
Until then, we are drafting a transition policy and we are seeking suggestions and objections from the stakeholders. We are hopeful that we will soon come out with it," he added. "We are aware that the implementation of the new DP will take some time. "Yes, the cost of getting a permit in Mumbai is expensive and there is no doubt that it is high as compared to any other part of the country. MUMBAI: Following complaints from real estate developers regarding the proposed premium to be levied in exchange for the extra FSI , the BrihanMumbai Municipal Corporation BMC ) has shown its willingness to look at reducing the rates, a top official said.The premium on fungible floor space index (FSI) currently is 60 per cent, 80 per cent and 100 per cent of stamp duty as per the ready-reckoner rate for residential, industrial and commercial development, respectively.One-third part of the premium is payable to the state, and the remaining to the BMC..