25 February,2009 08:12 AM IST | | Agencies
In a major policy decision that will benefit star-category hotelsu2014both existing and those under constructionu2014the Congress-led Democratic Front government has decided to amend the development control rules to provide them with an additional floor space index (FSI), the Times of India reported this morning.
The present FSI of 2 will be hiked to 5. Since the government will be charging a heavy premium for the additional FSI by ready reckoner rates, it's expecting to mobilise at least Rs 1,500 crore.
"We have already promulgated a draft notification for granting additional FSI to star-category hotels. Since very few objections and suggestions were received, we will issue a final notification within a month," a senior official of the urban development department (UDD) told TOI on Tuesday.
