Developer of India’s tallest residential building fined Rs 162 crore for violations

Developer of India’s tallest residential building fined Rs 162 crore for violations

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tallest residential building
Palais Royale

The developer of Palais Royale, India’s tallest residential building (294 m), will have to pay the BMC Rs 162 crore as premium and penalties for constructing a 15-storey public parking tower at Worli Naka without permissions. Municipal commissioner, Ajoy Mehta ordered the levy after the Bombay high court directed the commissioner to decide its fate following a petition challenging its legality.  The controversial project has been embroiled in litigation for the past four years after NGO Janhit Manch dragged the developer, Shree Ram Urban Infrastructure Ltd (SRUIL), to court for large-scale violations. The NGO said the public parking tower is illegal.  Under the state government’s cross-subsidy policy, the developer received permission to build a 15-storey parking tower in 2010, which it has to hand over free of cost to the BMC for public parking. In return, the developer will receive additional construction rights in the form of incentive floor space index (FSI) for the tower, Palais Royale.  However in 2011, the BMC changed its policy, restricting the height of public parking lots up to four floors. By then, SRUIL had procured construction permission only up to the plinth level.  However, it continued to build the entire parking tower. The developer’s plea against recalculating the FSI of the building, as it had already invested over Rs 2,000 crore in the project and completed construction, was also rejected by the court.

Source: realty.economictimes.indiatimes.com

Image source: junglekey.in

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