(image source : Internet)
AB’s Juhu VileParle and ST’s Cater road Bungalow, and Mumbai’s Skyline will get bigger now. Against the common apprehension - it has nothing to do with their incomes.
So, what has changed now? All these properties fall under Coastal Regulation Zone (CRZ) and it is regulated by CRZ Rules 1991, further amended in 2011 and eventually in 2019. CRZ are zones closer to the coast and based on the distance from the coast, the zone are divided into 4 viz. CRZ I, II, III and IV (1, 2, 3 and 4).
In 2019, properties under CRZ II (2) were given relaxation in terms of FSI, hence giving owners the option to utilise the additional FSI resulting in increased floors.
While the individual units i.e Bungalows etc. can be easily revised due to single/same family ownership but only time will tell how the existing societies will utilise this relaxation.
Environment activists are terming this relaxation a threat to the already sensitive and additionally this probably will draw more population to already densed Mumbai, in the event of additional units being up for sale.
Looking for more such advice? Or, RERA consultation on your new home? Contact us today!
The information relayed in this blog should not be construed as legal advice. The applicability of information varies on the basis of the circumstances of each case. But feel free to call us for similar advice.
ความคิดเห็น