Additional 2.5 FSI to PMPML for construction of plots
By proposing additional FSI for the Pune Mahanagar Parivahan Mahamandal Limited (PMPML), the Pimpri-Chinchwad municipal corporation has earned brownie points for itself. For developing its properties, the PMPML is likely to cash in on the additional 2.5 floor space index. The proposal for additional FSI by the civic administration, has been forwarded to the state government for its final approval.
The extra FSI can put to use by a private developer or by the municipal corporation for additional construction. However, in order to allow extra FSI, it is imperative for the municipal corporation to usher in certain amendments in its present development control (DC) rules.
Use of the FSI
Lack of adequate infrastructure still hails as one of the primary reasons for the mediocre transport facility in the city. The additional FSI has come in as a breath of relief that will aid the PMPML in bringing to pass better infrastructure for transport utility. In addition to it, raising funds via commercial use of the properties established using the extra FSI, will also be in store for the cash-starved transport company.
According to market sources, the additional FSI will be authorized for construction, only on plots that are earmarked for PMPML bus depots and terminals.With 2.5 FSI, the transport body will construct properties where the first two floors are reserved for parking PMPML buses and the remaining ones will be used by their commercial counterparts.
Revenue for PMPML
In its earlier meetings, the civic administration highlighted that it is high time to adopt adequate measures and take PMPML out of the sinking ship. Lands held by the utility are situated in prime locations within the municipal limits and can turn out to be a big source of revenue if used for commercial purposes.
According to market reports, the total loss suffered by the PMPML in the fiscal year stands at Rs 107 crore. The last financial year bore witness to an expense of Rs 600 crore, while the income earned by PMPML stood at Rs 493 crore. Rising diesel and fuel prices have further made matters worse for PMPML and it was compelled to cut short 160 buses.
