Gujarat government hikes FSI to boost realty sector

After central government's recent measure to bail out stalled housing projects, Gujarat government on Monday unveiled slew of measures to boost the state's real estate sector. Prominent among the measures were raising Floor Space Index (FSI) and special approval for constructing "Iconic buildings" in four cities. "Today morning I signed the final Comprehensive General Development Control Regulation (CGDCR) notification," Gujarat chief minister Vijay Rupani announced at CREDAI's Growth Ambassadors Summit 2019, organised by Gujarat state chapter of the industry body the Confederation of Real Estate Developers Association of India (CREDAI). According to the provisions contained in the final CGDCR, prepared after incorporating changes suggested by all the stake holders, developers will get an FSI of 3.6 on roads having width of 36 metres to 44 metres. The permissible FSI for projects along roads with the width of 45 metres and more now stands at 4.