Floor Space Index: Everything to Know about FSI In Mumbai real estate

Are you planning to invest in a real estate project in Mumbai? Don’t forget to consider Floor Space Index (FSI) before making any decisions. FSI determines a building’s potential built-up area and significantly impacts property development.

In this post, we’ll shed light on FSI, including its meaning, calculation, and factors that affect FSI, particularly in the context of Mumbai’s redevelopment under DCPR 2034. 

What is FSI?

FSI stands for Floor Space Index. It is a ratio that determines the maximum total floor area you can build on a piece of land compared to the land’s area. FSI includes both commercial and residential areas.

In Mumbai, DCPR 2034 set FSI for all real-estate projects to manage the density of buildings in a locality. By setting limits on the total FSI allowed, they can control the population in a given area. 

This helps ensure sufficient infrastructure, amenities, and a balanced environment in the locality. FSI helps develop buildings according to the available essential utilities like water, electricity, public areas, and roads.

How to calculate FSI

The calculation of FSI includes basic math. You can easily calculate the FSI of a building using this formula:

FSI = Total built-up area divided by plot area 

For instance, if your plot has an area of 5,000 square meters and the total built floor area is 10,000 square meters. The FSI is calculated as follows:

FSI = Total built-up area/Plot area

FSI = 10,000 square meters (built-up area)/ 5000 square meters (plot area) 

FSI = 2 

(In this example, the FSI of your plot is determined to be 2, meaning the total built-up area is twice the size of the plot. This simplified example uses imaginary numbers; the actual FSI and built-up area depend on local regulations and the specific project.)

The built-up area in this calculation includes only commercial and residential floor sizes. Other amenities like the lobby, lift, rooftop, and staircase are generally not counted in the total built-up area used in the FSI calculation. This may vary depending on location and local authority. 

Types of FSI as per DCPR 2034 in Mumbai

Moving on, let’s explore different types of FSI in Mumbai

1. Basic FSI: The foundational FSI allocated to a plot, generally which is 1 as per DCPR 2034. This is the starting point for calculating the permissible built-up area.

2. Additional FSI: Developers can obtain additional FSI by paying a premium to the government. This additional FSI can vary depending on the location and specific regulations governing the area.

3. Transferable Development Rights (TDR): TDR allows developers to transfer unused FSI from one plot to another. This is particularly useful for plots in congested areas where the full FSI cannot be utilized. Developers can purchase TDR to increase the FSI of another plot, facilitating larger developments.

4. Other Regulation: Besides basic, additional and TDR there are many other regulations which can be used to increase FSI as per DCPR2034. Like 33 (9), 33 (11), 33 (12B), 33 (19) and 33 (20B) etc. which will increase Built-up area (FSI) up to 5 we will cover details in each regulation in our future blogs. 

5. Fungible FSI: Fungible FSI is an additional 35% built-up FSI over and above the basic and additional, TDR and FSI as per other regulations, which can be used more flexibly in the development. It is available on payment of a premium and can be used for areas that are normally exempted from FSI calculations, like balconies, flower beds, etc. 

Factors affecting FSI

Besides the plot area and floors, many other factors affect the FSI of a project. Here are a few:

• Road Width: According to DCPR 2034, the width of the road adjacent to the plot significantly impacts the FSI. Wider roads typically allow for a higher FSI, promoting more extensive development, while narrower roads may limit the FSI to prevent congestion and ensure adequate infrastructure support.

• Purpose of building: The type of building and its use case equally impact the FSI. The FSI limits of residential, commercial, institutional, and industrial buildings vary based on local rules. 

• Government policies: Local authorities set specific zoning rules. These rules include limits on land use, building setbacks, and height restrictions. The authority concludes all these rules and then sets an FSI limit for specific areas. 

• Environmental concerns: Land areas near valuable natural resources and prone to natural disasters often impact FSI limits. Controlling the FSI limit helps manage the population and potential damage. Besides, many local authorities prioritize open space and green cover. Limiting floor space index helps promote parks and green areas, improving air quality and urban planning. 

Importance of knowing FSI for Redevelopment in Mumbai

You know what FSI is and how to calculate it. Now, let’s discuss the importance of knowing the Floor Space Index before investing in the property.

• Optimizing Development Potential: Understanding the FSI limits for an area helps in planning the redevelopment potential of a property. This is crucial for maximizing the use of space and achieving the best possible returns on investment.

• Quality of Living: Lower FSI often means more open space and a less crowded locality, making it peaceful and comfortable to live in. For redevelopment projects, maintaining a balance between built-up area and open spaces is vital for ensuring a good quality of life for residents.

• Community amenities: Higher FSi equally impacts the quality of life in an area. A higher FSI means more crowding, affecting basic amenities like water supply, open spaces, and parking. Therefore, consider checking the FSI limit and know if they offer sufficient infrastructure.
  
• Market Conditions: Understanding the FSI helps in gauging the market conditions and potential demand for new developments. It provides insight into the allowable development scale, which can influence property values and the feasibility of redevelopment projects. In a high-demand market like Mumbai, optimizing FSI can lead to better utilization of space and higher profitability

Misconceptions about FSI

1. FSI is fixed for all areas: The FSI limit varies depending on different locations and local authorities due to various factors. There’s no fixed FSI for all areas.

2. Higher FSI always offers higher profit: Generally, higher FSI offers higher profit due to more potential development areas. Yet, this can be the opposite, as higher FSI also means more crowds, impacting infrastructure like parking facilities, water supply lines, and sewage systems. 

3. FSI only applies to residential areas: The Floor Space Index applies to all areas, including commercial, industrial, institutional, and residential. 

4. FSI determines building height: Floor space index only determines the built-up area of the real estate project. The height of the building is set by the local authority based on urban development aesthetics and environmental considerations.

5. FSI includes all areas of the building:  The total built-up area in floor space index calculation only includes commercial and residential floor areas. Public areas like the lobby, lift, staircase, and rooftop are not included in it. However, a few local authorities charge different premiums for that.

Conclusion 

Knowledge of the Floor Space Index is essential for understanding and developing real estate properties in Mumbai. The key benefit of the FSI limit is balanced and sustainable urban development. With the help of FSI, you can get a basic idea about the property’s development potential, quality of life needs, and open spaces. 

We Acres Developers understand the buyer’s emotions behind a home. Thus, our team plans projectst build considering different types of FSI, market conditions, building aesthetics, and amenities for residents.

We ensure to build a home by prioritizing your comfort, sustainable environment, and safety instead of merely focusing on higher built-up areas and profit. 

In this post, we covered all the essential points you must know about FSI as a homebuyer. However, consult an expert in your locality to understand the specific regulations in your area.