NASHIK: Deputy Chief Minister Eknath Shinde announced on Thursday that Nashik will soon enjoy incentive Floor Space Index (FSI) benefits similar to those of Thane and Pune to promote the redevelopment of aging buildings.
This pledge was made during an interactive meeting hosted by State Industries Minister Uday Samant with industry and trade associations in Nashik.
Members of the Confederation of Real Estate Developers Association of India (Credai) expressed their concerns regarding obstacles in redevelopment initiatives. In response, Samant promptly contacted Shinde and briefed him on the issues.
Shinde committed to formulating a policy that would implement additional FSI for redevelopment in Nashik, aimed at assisting urban renewal and enhancing aging infrastructure.
Udag Ghuge, Vice-President of Credai Nashik, highlighted that the city has over 6,000 housing societies and apartment buildings situated along 9-meter-wide roads.
“Many of these structures are decades old and urgently need redevelopment. However, the current FSI for such projects is lower than in Thane and Pune, rendering redevelopment financially unfeasible,” he stated, emphasizing that a 50% increase in FSI, similar to Thane, would significantly boost redevelopment efforts and elevate housing quality and civic amenities.
Ghuge also raised the need for height relaxations for smaller plots up to 1,500 sq. mt. Developers requested permission to raise the building height from 24 meters to 30 meters along 9-meter-wide roads, subject to Fire NOC compliance.
Additionally, they asked for a 6-meter exemption for podium/parking height from the overall building height calculations, in line with Pune Municipal Corporation regulations. Ghuge noted that these changes would alleviate design constraints and expedite project approvals.
Although the Unified Development Control and Promotion Regulations (UDCPR) apply in Nashik, certain elements are not enforced locally, creating barriers to redevelopment. Stakeholders believe that prompt action will modernize Nashik’s aging infrastructure and meet the increasing housing demands.
Shinde, also heading the Urban Development Department, assured that a meeting with Credai members would be convened soon to address all concerns, including the enhancement of FSI for redevelopment projects in Nashik.
