Higher FSI benefits at large

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

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