PREMIUM FLOOR SPACE INDEX

PREMIUM FSI

Why Premium FSI?

Premium FSI is a tool to encourage vertical growth in a metropolis. In a city like Chennai, where every inch of space counts Premium FSI is expected to ease the pressure on land at least to a small extent by allowing construction of more floor area.

CMDA Guidelines 

Regulation 36 of the Development Regulations of Second Master Plan, provides for allowing Premium FSI, subject to the condition that the most Premium FSI allowed shall be 1.

The details of Road Width and corresponding Premium FSI allowable under the Regulations are as under:

i) Road width 18 metres and above Premium FSI- 40% of normally allowable FSI      

(60′ and above)

ii) Road width 12 metres – below 18 metres – Premium FSI- 30%of normally allowable FSI
                        (40′ & above-& below 60′)

iii)Road width 9 metres – below 12 metres Premium FSI- 20%of normally allowable FSI
                         (30’& above-below 40′)

(The other conditions about Setback Space, Road Width, Plot Coverage, Height of the building etc shall be taken into account in computing FSI/Premium FSI)

Premium FSI Charges

The CMDA Rules on Premium FSI charges are given below:

Additional benefit by way of Premium FSI accrued to the developer is related to the proportionate land extent.
For example,-
a)In case, where normally permissible FSI is 1.50, for every 1 sq.m additional floor area constructed availing Premium FSI, proportionate land required will be 2/3 or 0.66 sq.m,b)In case, where normally permissible FSI is 2.0 to 2.50, for every 1 sq.m.of additional floor area constructed availing premium FSI, proportionate land required will be 1/2 or 0.50 sq.m., to 2/5 or 0.40 sq.m., respectively.iii)The amount to be paid by the applicant towards the Premium FSI.(Premium FSI Charge) shall be equivalent to the cost of the proportionate land stated above, as per the Guide Line Value of the Registration Department.iv)The applicant shall remit the Premium FSI Charge in one lump sum to Metropolitan Development Authority before getting planning permission

(v) All the amounts collected towards the award of Premium FSI shall be remitted into Government account, to be allotted separately for this purpose. The shall be utilised for infrastructure development of the area as may be directed by the Government 

Impact of Guideline Value Revision on Availing Premium FSI

Till the Guideline value was revised steeply in 2012, the collection from the Premium FSI charge were quite high.Since the Premium FSI charges are to be paid as per the Guide Line Value, the promoters have slowed down a bit in availing Premium FSI.However it seems the collections have picked up since as could be seen from the reports.

Chennai’s Skyline is Set to Change

 Premium FSI and TDR are set to change Chennai’s skyline in the days to come. In 2012 a record number of skyrise buildings have been given approvals. The trend will pick up speed once the market has shaken its slumber and started moving up.

See post on FSI

ChennaiRealties

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