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You'll get 3 flats at the price of one if builders get more FSI
Updated On: 21 September, 2012 07:41 AM IST | | Varun Singh
Real estate industry representatives claim if government increases FSI in the city to 13 from the existing 1.3, apartments now worth Rs 20,000 per sq ft will cost only Rs 7,000 per sq ft
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Imagine having to pay around Rs 35 lakh for a flat, the likes of which cost over a crore now. Sounds too good to be true? The president of Confederation of Real Estate Developers Association of India (CREDAI) claims that if in Mumbai a developer is allowed a floor space index (FSI) of 13 — instead of the current 1.3 — property prices will come down dramatically. FSI is the buildable area on a plot of land.
Representation pic
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