50% reduction in FSI for apartment buildings built near metro rail project in Chennai!!
Posted on: 24/Aug/2022 9:47:47 AM
The news now is that the fee for additional floor space or the premium FSI has been reduced by 50 percent for those apartment buildings that are built within 500m along the metro rail routes.
It is known that there are two metro train lines in Chennai. The construction works have started on 3 routes for the metro rail services. Apart from Chennai, metro rail projects would also be implemented in cities like Coimbatore and Madurai etc. The feasibility reports are being prepared for implementing metro train projects in the above said cities in TN.
To accommodate a large number of people on the metro rail routes, the government of TN has decided to give additional FSI and the research works for this have been carried out in the previous rule itself. The present government has decided to provide a discount on the FSI on those buildings near the metro rail route.
Mr .Hitesh Kumar Makhwana, minister for housing and urban development had issued an order. It was mentioned in the order that in the metro rail routes that are currently in use and in those routes where metro rail work is going on, the FSI for the buildings that would be constructed within the distance of 500m has been reduced by 50percent.
What is the benefit:
It is worthy to mention here that according to the general building rules if an additional FSI was obtained while constructing the apartment buildings( of less height) in TN, then 50 percent of the land guide value fixed by the registration department for the area must be paid as fee amount. For those high rise buildings for obtaining additional FSI 40 percent of the amount must be paid.
The officials have revealed that due to the new notification by the TN government for those multi storey buildings that would be constructed on the metro rail routes 25percent and 20percent fee would be collected.
