Recently, the Municipal Corporation of Greater Mumbai (MCGM) revised Development Control Regulation No. 30, also referred to as the Crown Policy. The new policy allows architects and developers to:
• Build ornamental projections and architectural features
• Connect terraces of separate wings within a building complex
• Utilise the connected terraces as a recreational space
The major highlight of the policy is that the connecting space will not be counted in the Floor Space Index (FSI) as long as it adheres to the light and ventilation norms prescribed in the Development Control Regulations (DCR).
Colliers Project Management View
Linking the rooftops gives the developers an opportunity to create a contiguous recreational space, which shall give a definite boost to the sale component of the building, thereby greatly benefiting the developers. Besides, the policy has also permitted construction of pergolas on these rooftops widening a scope for landscaped gardens and further enhancing the aesthetic quality of the building. It will be an attractive feature among the buyers in Mumbai, and they might be willing to bear additional costs to avail such features in a building.
Colliers Research View
The government in several countries like Singapore and Hong Kong has induced aesthetic liberties to private developers in their building norms. The newly approved Crown Policy shall help promote the creation of innovative recreational spaces in the city of Mumbai. Apart from the currently popular amenities like swimming pools, clubhouses, community theatres, etc., terrace gardens or recreational areas shall also become a huge attraction among buyers in a land-starved city such as Mumbai. Consequently, developers may also charge a premium over the market rate for such features. Hence, this sanction is a welcome move not only for the developers but also for the buyers.