Summary:
The incentive will give a push for redevelopment of such structures in the old part of the lake city. The increased FSI would bring in more players and could also impact the realty rates here.“This is a welcome decision for residents of old tenements. The incentive will give a push for redevelopment of such structures in the old part of the city. Naupada ward, which is part of old Thane has 61 extremely dangerous buildings which is the highest in the city while Mumbra, Wagale Estate and Diva also have more unsafe structures. Presently, developers have to purchase TDR and premium FSI for the redevelopment.The cap of 0.5 FSI made the redevelopment less feasible for the developers keeping majority players out..