When a redevelopment project is done, an increase in the Floor Space
Index (FSI) happens, there can be several potential benefits that are passed on
to society indirectly. Here are some possible advantages:
Increased housing availability: One of the primary benefits of
increasing FSI is the potential to create more housing units within a given
area. By allowing for taller and more densely constructed buildings, developers
can accommodate a greater number of residential units. This helps address
housing shortages and increases the availability of affordable housing options.
Efficient land use: Higher FSI enables more efficient utilization of
land resources. By allowing for taller structures and increased density,
redevelopment projects can make better use of available land, especially in
densely populated urban areas. This is particularly valuable in cities where
land is scarce and expensive.
Enhanced urban infrastructure: Redevelopment projects often involve improvements
to urban infrastructure such as roads, utilities, parks, and community
facilities through TDR via BMC. When FSI is increased, developers may be
required to contribute to infrastructure development or upgrades, which can
lead to enhanced amenities and services for the surrounding community. This can
include the construction of better roads, public transportation systems, green
spaces, and community centres and more importantly parkings.
Economic growth and job creation: Redevelopment projects driven by
increased FSI can stimulate economic growth and generate employment
opportunities. As construction and development activities increase, there is a
demand for labor, creating jobs for construction workers, architects,
engineers, and other professionals. Additionally, the presence of new housing
and commercial spaces can attract businesses and contribute to local economic
activity.
Improved public transportation: With increased population density
resulting from higher FSI, there is a greater likelihood of improved public
transportation infrastructure like Metro train and Coastal Road. As more people
live and work in a particular area, there is increased demand for efficient and
accessible transportation options. This can encourage investments in public
transportation systems, including the expansion of bus routes, the
establishment of new train or metro lines, or the enhancement of existing
infrastructure.
Environmental considerations: Redevelopment projects that incorporate
higher FSI can promote sustainability and environmental consciousness. By
concentrating development in urban areas, it reduces the need for urban sprawl
and the associated destruction of natural habitats. Additionally, developers
may be required to adhere to green building standards, incorporate renewable
energy sources, and implement measures to mitigate environmental impact.
It's
important to note that the actual benefits realized can vary depending on
various factors such as the specific context, local regulations, and the
implementation of the redevelopment project. Therefore, careful planning,
community engagement, and effective governance are crucial to ensure that the
benefits of increased FSI are maximized and equitably distributed among
society.
Utkarsh Jani
