FSI (Floor Space Index) is a crucial term in the Indian real estate industry. It also holds great importance in a space-starved city like Mumbai.
What do we mean by FSI?
FSI measures the total building floor area in the relation to the land size on which it is developed. Hence, it is sometimes called the FAR (Floor Area Ratio) as well. It is a benchmark for controlling the building height in urban areas. The higher this ratio, the larger the building that may be built on the same quantum of land. FSI may vary across cities.
FSI regulations in Mumbai
Mumbai has stringent FSI regulations in place, with the FSI being notified for every zone within the city and also for various kinds of buildings including commercial, residential, and industrial structures. Residential buildings within the city should have an FSI of 3 versus 1.33 previously. For commercial structures, this should be 5 versus 1.33 earlier. For suburbs of Mumbai, it is 2.5 versus 2 earlier, while it is 5 versus 2.5 earlier for commercial buildings in this zone.
What determines the floor space index?
FSI is determined by the following:
• The land area
• Building type
• Structure location
• Amenities that are available
How to calculate FSI in Mumbai?
The total building’s built-up area should be divided by the total area of the plot. The ratio that you get is the FSI of the structure. For example, if the built-up area is 800 sq. ft. and the plot area is 1000 sq. ft., then the FSI will be- 800/1000 = 0.8.
Have the rules been revised?
The Maharashtra State Government scaled up FSI to 4 from 3 for rehabilitation projects in Mumbai across slum zones across the State. The maximum FSI was previously 4.5 prior to development control regulations being changed. Cluster redevelopment is now permitted for roads with a minimum width of 12 metres although the route should be an arterial thoroughfare that is within 500 metres of an 18 meter- road. The minimum site size should be 6,000 square metres while the construction age should be a maximum of 30 years.
Under the rehabilitation regulations, FSI may be allowed till 4.0 although the amount shared with the MHADA should be worked out based on the FSI usage of the community and the ready reckoner rate.
Can FSI be increased?
It may be increased in case the following are possible:
• FSI exemption from the MCGM (Municipal Corporation of Greater Mumbai) for semi-public and public structures.
• FSI bonus applications to the MCGM for specific building categories based on specific criteria.
• TDR (Transfer of Development Rights) which means that one can use FSI from one plot to increase it for another. This is only possible in some Mumbai areas.
These are some of the key points about the FSI (Floor Space Index) that you should make a note of.
