PROPOSAL.

Ladies and Gentlemen, As suggested earlier, we were waiting for this Diwali before moving ahead. The wait is over and the new policy which was to have been announced before Diwali has come into being and also in the news yesterday. The article is printed below this billet and was published in the Times of India, dated: 28th. November 2012. You could use the link below... http://m.timesofindia.com/city/mumbai/Township-FSI-hiked-to-boost-economic-hubs/articleshow/17379710.cms As discussed amongst us, we propose to buy reasonably priced land in excess of a 100 acres for a special township project.. The lands identified would be around Karjat, Pen, Nagothane, Kolad, Roha and/or Mahad. This land would be converted and sold/developed in a phased out manner. These areas have been identified as areas with growth potential in the near future and apart from connectivity to National Highways also afford connectivity to railheads. Just as a matter of information, Panvel should also be becoming a terminus. Kindly re-advise your interest in this proposal alone to harishkhosla@gmail.com

Thank you for bearing with us and also your time, Warm regards, Harish

Bungalow No. 22, Kahun Road,

Pune. 411001. India.

+91 9823088480

Township FSI hiked to boost economic hubs

Nov 27, 2012, 01.09AM IST TNN [ Sandeep Ashar ]

MUMBAI: To encourage creation of new economic hubs, the state government has decided to

make it mandatory for township projects to set aside up to one-fourth of the land for economic

activity.

Chief minister Prithviraj Chavan recently approved a fresh policy for special township projects,

which contains this provision of setting setting aside land for economic activity.

Special township projects are those where a developer is permitted to set up a township along

with all necessary infrastructure and amenities in a composite plot spread across 40 hectares

(around 100 acres).

The idea is to create employment opportunities for citizens near their residences, an official said.

Besides improving the quality of life of citizens, the move will also enable decongestion of

developed economic centers like Mumbai, the official added.

The government has categorized businesses centered around education, hospitality, healthcare,

and entertainment, among other activities as economic activity. Townships spread across 40-100

hectares will have to set aside 15% of its area for such activity, those over 100-200 hectares will

have to reserve 20% and those above 200 hectares 25%, a source said. Meanwhile, the fresh

policy also aims at redesigning the skyline of townships by raising the floor space index (FSI).

Depending on the size of the plot and its location, an FSI of 1.3-1.7 will be provided under the

new policy. The same benefit ranged between 0.2 and 1 previously.

While allegations that the policy was being designed to benefit a couple of major developers who

are developing townships in MMR, Chavan denied it. Claiming that the policy was aimed at

promoting planned development, Chavan said that his government had studied existing policies

implemented in Gujarat, AP, Haryana, and Uttar Pradesh before taking a decision.

For developable areas in the MMR, the FSI available will range from 1.5 to 1.7. A maximum FSI

of 1 was previously provided. It will be 1.5 for townships spread across 40-100 hectares (100 to

247 acres), 1.6 for 100-200 hectares and 1.7 for townships above 200 hectares.

Chavan however said that the government has imposed a fresh condition requiring developers to

build small-sized house for economically weaker sections and low income groups on 20% area

of the plot. To be handed over to Mhada after being constructed, Chavan said that these would

boost affordable housing stock. The government will charge premium at ready reckoner value for

the additional incentive FSI (excluding one used for public housing).

A state-appointed panel had recommended the hike in FSI to incentivize township projects

arguing that the existing policies had failed to elicit desired response from developers. The panel

also recommended doing away with multiple policies for townships. Chavan said that the

government has accepted the panel's report. While different incentives were provided to

urbanizable areas within and outside municipal limits, this has been withdrawn in the new

regime.

No township will be permitted in ecologically sensitive zones. But, the government has hiked

FSI for development of other 'green' zones existing alongside transport corridors. Existing

townships where 20% area is yet to be developed could also avail the new policy, sources said. A

notification will be issued this week. "We will invite suggestions and objections from the

public," said Chavan. The FSI incentive for such projects was last hiked in 2008.