Maharashtra government finalised several changes to the existing policy for the Special Township Project (STP) scheme.
The modified policy increases the contribution of the builder to low-cost housing to 20 per cent of the total built-up area from the current level of over 10 per cent.
It may be recalled that over six years ago, the state government introduced in the existing policy for the STP scheme to promote self-sustainable micro-economic hubs in and around urban centres in Maharashtra.
The modified policy raised the total FSI for saleable residential projects from 1 to a maximum of 1.7. The government also increased the component of low-cost housing and the area that has to be reserved for economic activities within the township.
Moreover, the area to be compulsorily brought under economic or commercial activity has been increased from 15 per cent to up to 25 per cent.
FSI for housing projects in STPs consisting of agricultural/green zone/no development zone has also been increased from 0.2 to between 0.8 and 1 depending on the size of land.
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