Fungible FSI

D.C.Regulation 35(4)

Compensatory Floor Space Index (FSI):-

Notwithstanding anything contained in the D.C.Regulations 32, 33 & 34, the Commissioner may, by special permission, permit fungible compensatory Floor Space Index, not exceeding 35% for residential development and 20% for Industrial/Commercial development, over and above admissible Floor Space Index,by charging a premium at the rate of 60%, 80% and 100% of the Stamp Duty ReadyRecknor Rate, for Residential, Industrial and Commercial development respectively.

Provided in case of redevelopment under regulation 33(7),33(9) & 33(10) excludingclause no.3.11 of Appendix-IV of Development Control Regulation 1991, thefungible compensatory F.S.I. admissible on rehabilitation component shall be granted without charging premium.

Provided further that redevelopment under D.C.regulations no. 33(5) and redevelopment proposal of existing buildings in suburbs and extended suburbs by availing TDR, the fungible compensatory F.S.I. admissible on F.S.I. consumed in existing structure shall be granted without charging premium.

Provided further that such fungible compensatory FSI for rehabilitation component shall not be used for free sale component and shall be used to give additional area over and above eligible area to the existing tenants / occupants.

Provided, that this regulation shall be applicable in respect of the buildings to be constructed or reconstructed only.

There are many myths about Fungible FSI, or some people interpret the definition differently in their calculations , my suggestion to all members of housing societies to calculate this Fungible FSI in Toto rather than on individual flats , at the same time the effect of 35% excluding 10% balcony area comes lesser than what people expect of pure 35% on their respective carpet areas. 

Redevelopment First Step Conveyance/ Deemed conveyance

List of Documents Required for Deemed Conveyance Procedure

    

Following documents are required to be submitted along with the Deemed    Conveyance Application in Form VII to the Competent Authority.

From Society Records

·Copy of Society Registration Certificate

·List of Members & their Share Certificate Details

·Copies of Registered Agreements (Chain of Registered Agreements in case of Re- Sale) for all Flats/ Shops with Stamp Duty, Registration Receipts & Index II details

·Title Devolution Statement of all the Flats/ Shops

·Registered Partnership Deed of the Partners of the Developer Firm

·Registered Development Agreement/ Conveyance Agreement between Land- Owners & Developer

·Registered Power of Attorney given by Land- Owners to the Developer

·Will & Probate Copy, in case the Development Agreement is signed by Legal Heirs of Land- Owners

·Death Certificate of Land- Owners, wherever necessary

Land Revenue Records

·7/12 Extract

·Village Form No.6

·Property Card

·City Survey Map

·N. A Order

·U. L. C Order

·Latest Property Tax Paid Receipt

·Latest N. A. Tax Paid Receipt

From BMC Records

·BMC Approved Plan

·BMC (IOD)

·BMC (Commencement Certificate)

·BMC (Building Completion Certificate)

·BMC (Occupation Certificate)

·BMC (Latest Property Tax Paid Receipt)

·Location Map

   

From Professionals

·Survey Report – From an Architect

·30 Years Search Report & Title Certificate – From an advocate

Following documents are required to be submitted along with application for deemed conveyance, by the society.

-  List of Flat Purchasers along with All the registered Agreements for sale entered into with the promoters or with previous members, along with Proof of payment of Stamp Duty.

-  7/12 Extract and Village form No.6 (Mutation entries) Property card,

-  Location Plan and Layout Plot plan approved by the local authority

-  City survey plan or survey plan from the revenue department.

-  Architect certificate about the constructed areas, FSI details of the entire Layout Plot, common areas and the facilities, structure constructed or to be constructed on land.

-  Latest Title and Search Report for last 30 years from an advocate,

-  N.A. Order

-  ULC Certificate under Urban Land Ceiling Act, 1976

-  Building Plans approved by the BMC and other authorities,

-  Commencement Certificate, Occupation Certificate and Completion Certificate,

-  Society Registration details,

-  Development agreement or power of attorney or agreement for sale executed by the landlord with the promoter/builders for development or for transferring the right, title and the interest in the land .

-  Legal notices reminders send to the builders Promoters and other interested parties to execute the conveyance deed in favor of the Society.

-  Draft conveyance deed / Declaration proposed to be executed in favor of Society.