Parking spaces under private plots to get builders more FSI

Builders have the option to construct public parking spaces underneath private plots reserved for open spaces under the city's new development plan, the BMC said on Monday. In return, they will receive more construction rights on the portion of the plot. The policy will come up for discussion before the civic improvements committee on Thursday. Civic sources said it will benefit developers in upmarket localities and areas near railway and Metro stations. A senior civic official justified the new policy, stating that it will create more parking spaces around existing and upcoming stations. Civic engineers said construction of underground parking is expensive and builders will go for it only in areas with high property prices. The BMC, as part of the accommodation-reservation scheme under the new development control regulation (DCR-2034), allows developers to construct a building on 30% of a plot after consuming its developable potential and hand over the remaining 70% to the BMC as public open space. To make it more attractive for builders, the BMC has now added another feature to the scheme by giving builders additional FSI-TDR (transfer of development rights) for constructing up to two floors of underground parking beneath the open space portion. The lure is that developers can use the extra FSI-TDR to add more floors to the building.