Increase in FSI to help middle-class: Jayant Patil

Mumbai, Mar 19 (UNI) The Maharashtra Government has made an effort to make housing affordable to the middle-class by increasing the FSI, Finance Minister Jayant Patil said.

Talking to reporters after presenting the State's budget in the Assembly, Mr Patil said the increase in FSI will bring down the prices of houses.

''If the flat has been unsold for more than a year, the owner will have to pay the stamp duty on the house again when he wants to sell it, and this scheme will reduce the investor-based housing market to some extent and make it a need-based one,'' Mr Patil said.

He further added that the new rules will bring down the housing prices as the supply of flats will increase to some extent.

UNI JN MAZ BJR RN2012