Last few months have witnessed a drop in proposals for buildings in Mumbai, with developers keeping their plans on hold in anticipation of a policy that would give them a high vertical limit.

The Maharashtra government had promised an FSI increase on the eve of the Assembly elections, hence developers were eagerly looking forwards for it. Section 33 (7) of Development Control Regulations would be amended to incfease the FSI from 2.5 to 3 for development of 19,000 cessed structures in the island city.

In January, the department received 29 proposals against an average of around 80. G South Ward (Worli-Parel), which had 14 proposals in January 2009, got one in the same month this year. Wards E ( Byculla), B (Dongri), G North (Dadar- Mahim), F South ( Sion-Sewri) and D ( Malabar Hill- Napean Sea Road) have got one or two proposals each in January.

Once the government freezes on the policy, the saleable component for builders redeveloping such property will go up considerably.

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