Property in Pune in the cities old and congested regions may soon become an attractive destination at which to own real estate . In the city of Pune, New Development Control Norms will lead to a higher Floor Space Index (FSI) allowing builders to construct higher on the same amount of land in the cities old and congested regions. These New Development Control Norms are also to be introduced at regions that have developed due to the flow of a large amount of traffic (Transit-Oriented Development Zones). A higher FSI will allow builders in Pune to construct buildings that are significantly higher on the same area of land, allowing builders the leisure to sell or lease more floors and increase revenues.
The announcement, one acted upon by local authorities and builders and developers in Pune will not only lead to a gentler and easier flow of traffic in these regions, but will also, simultaneously, feed the appetite for rising urban housing in Pune.
Builders and developers in Pune have breathed a sigh of relief due to the announcement by the state government allowing higher FSI in busy regions of Pune. Homebuyers are also pleased by the decision of the state government.
According to the New Development Control norms, a minimum FSI of 1.5 has been granted at regions of Pune where the width of the road is 9 meters whereas the busiest transit roads and corridors i.e.; along the metro and Bus Rapid Transit System, have been allowed a maximum FSI of 4.