With increase in floor space index, Gujarat paves way for Dubai-style skyscrapers

In a major incentive for the recession-hit real estate industry, Gujarat chief minister Vijay Rupani on Monday announced higher floor space index (FSI) and gave assurance of special permission to Dubai-style skyscrapers in the four major cities — Ahmedabad, Surat, Vadodara and Rajkot.

After the incentive aimed at promoting vertical development, an FSI of four will be allowed in Ahmedabad, Surat, Vadodara and Rajkot along 45-metre or wider roads. Similarly, an FSI of 3.6 will be allowed in projects along 36-44 metre-wide roads. FSI is the maximum area that can be constructed on a plot of land. It is calculated by dividing the total covered built-up area on all floors of a building by the area of the plot it stands on.

Announcing the higher FSI, the chief minister, at a function organised by Gujarat chapter of Confederation of Real Estate Developers Associations of India (CREDAI), said he had signed a notification pertaining to new common General Development Control Regulations (GDCR) which would remove discrepancies in different areas in the state.

The chief minister asked developers to work on vertical development, stating his government was willing to provide additional FSI for the purpose. “The state government wants iconic skyline buildings, just like Dubai and Hong Kong to come up in Gujarat. Special approvals for such iconic structures will be given to encourage development of such buildings,” he said.

Rupani claimed that the new GDCR would bring greater transparency and enhance ease-of-doing business. Till now, every city or local body had its own GDCR but now there will be a common set of rules for construction across the state. The new rules would be applicable in all eight municipal corporations, 162 municipalities and areas governed by 23 urban development authorities of Gujarat.

Terming the state government’s decision a win-win situation for every stakeholder in the real-estate segment, Credai Gujarat chairman Shekhar Patel said that with this initiative residential as well as commercial properties would become cheaper.