HC order brings hope for Bldrs on scrapped parking lots

Mumbai:
As in the beginning of this year state government has cancelled the ‘Parking FSI’ policy of the builders whose parking tower projects come under this policy. But the fresh order has been passed by the Bombay High Court and it brings the new ray of hope for the builders in this issue. In the aftermath of the HC order the Brihanmumbai Municipal Corporation (BMC) is supposed to have written to these developers and asking them to resubmit their proposals.
This policy offers incentive construction rights to developers who build public parking towers on a portion of their land and surrender them free of cost to the BMC.
According to the senior officials “in the recent March Chief Minister Prithviraj Chavan have cancelled the number of proposals more than two dozen, which had received letters of intent (LoI) but still awaiting to get commencement certificate (CC) from the BMC. Whereas only those projects which had received CC were permitted to go-ahead.
Earlier the court said that “the government was not justified in directing the BMC to cancel the developer’s LoI and set aside its directive.” After this the court has issued an order to BMC to accept new proposals. In addition to developers those first their proposals have accepted and then rejected so they also wanted to get benefited by the HC order.