Tamilnadu : Higher FSI For LIG & MIG Flats, Reduce cost ..!

To insulate the poor &  the middle class from rocketing property prices, the Tamilnadu state government has announced additional FSI * (Floor Space Index) for housing projects catering to the LIGs (Low Income Group) and MIGs (Middle Income Groups).   

Reduce cost of Flats..!

The state government will not levy any premium FSI charges while sanctioning additional FSI for LIG and MIG projects.

In effect, the builder/promoter/developer -  the TNHB (Tamil Nadu Housing Board) or private developers — will be able to construct more built-up area without incurring additional cost on land.

It would reduce the cost of such flats (apartments), state finance minister Mr. O. Panneerselvam reasoned out in the budget.

FSI 2.5..!

The FSI for MSBs (Multi Storeyed Buildings) is 2.5 while that for a ground floor plus 3 floors is 1.5. The new FSI guidelines are yet to be announced.
  
Major builders and promoters of Tamilnadu  welcomes the increase in FSI for LIG & MIG housing. It will bring in more housing stock at affordable rates.

 
* FSI is the ratio of land area to the built-up area.
Src: TOI
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