MIDC vide its Circular No. MIDC/CP/A65142/2014 dated 10 Mar, 2014 has brought out the sanction accorded by the Government to enhance FSI for MIDC Industrial Plots, the Additional FSI up to 0.5 over and above the basic FSI of 1.00 permissible for MIDC Area.
The Govt. has also declared the New Industrial Policy-2013 for Maharashtra State vide Resolution no. III-Policy 2010/CR-768/ Industry-2 dt.22 Feb 2013,wherein the State Govt. has announced its decision to permit additional 0.5 FSI for MIDC area by charging premium.
The issue was discussed in MIDC Board Meeting & it is decided to recover premium for FSI for MIDC Industrial Plots as under:
- Additional premium for industrial activities / industrial plot: 25% of prevailing industrial rate of MIDC Plot in that area.
- For Residential Use: 50% of prevailing residential rate of MIDC in that area.
- For Commercial Use: 75% of prevailing commercial rate of MIDC Plot or Ready Reckoner rate whichever is higher.
To view the MIDC Circular No. MIDC/CP/A65142/2014 dated 10 Mar, 2014, click here
MIDC vide its Circular No. MIDC/CP/C48101/2014 dated 26 Aug, 2014 regarding additional FSI up to 0.5 as per New Industrial Policy – 2013 has further clarified that the plot holder can apply for building plan approval in parts or an application can also be made for total 1.50 FSI at the very first instance and it is not mandatory for the MIDC Plot holder to apply for additional 0.5 FSI only after completion of construction up to basic FSI.
To view the MIDC Circular No. MIDC/CP/C48101/2014 dated 26 Aug, 2014 click here
ASCC Analysis:
The enhanced FSI in MIDC industrial areas will spur growth by allowing more industrial expansion and mixed-use developments. While it offers greater space for business, it comes with higher premiums for commercial and residential uses. This policy can boost economic growth and increase infrastructure demand. The flexibility in building plan approvals will help plot holders maximize the FSI, enhancing MIDC zone development, but managing the added infrastructure needs will be essential for sustainable growth.
FSI Articles:
We recommend you to go through following blogs written by ASCC to get the holistic view on FSI of Industrial Plot.
| Sr.No | Article | Article Link |
|---|---|---|
| 1 | Floor Space Index ( FSI ) / Floor Area Ratio ( FAR ) IN MAHARASHTRA (Year 2018) | Click here |
| 2 | Development of MIDC plots by utilization of minimum 40% FSI (Year 2020) | Click here |
| 3 | Revision of Development Period & Utilization of FSI in MIDC Plots (Year 2023) | Click here | 4 | FSI For Industries In Maharashtra (Year 2024) | Click here |
About Us:
We are a well-established industrial broking company operating across India, offering a comprehensive one-stop solution for all industrial consultancy services. With in-depth knowledge of industrial policies and regulations, we have successfully closed over 550 industrial transactions. Our expertise has earned us the trust of more than 50 large multinational corporations, including 22 Fortune 500 companies. We pride ourselves on providing clear and marketable titles, ensuring time-bound and hassle-free transactions. Additionally, our dedicated legal and liaison teams work meticulously to support each transaction, guaranteeing smooth and efficient processes for our clients. We also assist in getting the Industrial Permits and Licenses which are required to run any industry.
Contact Us:
Ascent Supply Chain Consultants Private Limited (ASCC),
406 Raheja Arcade, Sector-11, CBD Belapur,
Navi Mumbai – 400614, MH – India.
Tel: 022-4897-4888
Email: info@ascc.in
Disclaimer:
Our company has neither been appointed nor authorised by MIDC to make this blog. However, we have done in-depth study of various MIDC circulars and provided information on this blog in the public interest especially for the people holding MIDC Plots. While every effort has been made to ensure the accuracy of the information provided by us but we still advice you to kindly go through the relevant MIDC Circulars or seek professional guidance before taking any decision. The information provided on this blog should not be construed as legal advice or a substitute for professional consultation.
Leave a Reply