Buildings of Smart Fin Tech Centre in UDCPR 2020

Mar 30, 2024

Rule No.7.12 Buildings of Smart Fin-Tech Centre

i) The Authority may permit additional FSI up to 200% over and above the basic permissible FSI to Smart Fin-Tech Centre located in Residential/Industrial/Commercial Zone, which have been approved by the Directorate of Information Technology, proposed to be set up (hereinafter referred to as the "said unit") by charging premium of 20% of the land rate for the said land as prescribed in Annual Statement of Rates for the relevant year of granting such additional FSI.

Provided that additional FSI shall be permissible only on plots having an access road of a minimum of 18.0 m. width and subject to approval by a committee chaired by the Principal Secretary, Information Technology, and comprising representatives of Industries, Finance and Urban Development Department (UD-1).

Provided further that, the premium so collected shall be shared between the Planning Authority and the Government in the proportion of 50: 50. The share of the Government shall be deposited in the Fin-Tech Corpus fund which is being set up by the Director of Information Technology.

(Explanation: Premium charges shall be calculated based on the value of lands under such zones, determined by considering the land rates of the said land as prescribed in the Annual Statement of Rates (ASR). These charges shall be paid at the time of permitting additional FSI by considering the ASR for the relevant year without applying the guidelines).

ii) The total maximum permissible FSI shall not exceed the limit of 3.00. In case of plot fronting on roads having a width of 24.0 m. or more, the FSI may be permitted to be exceeded upto 4.00.

iii) No amenity space is required to be left for the development of plot/land up to 2.00 hectares for the Smart Fin-Tech Centre.

iv) At least 85% of the total proposed Built-up area (excluding parking area) shall be permitted for the business of Fin-Tech (start-ups, incubators, and accelerators), banking and financial service including NBFC and insurance, and IT/ITES with focus on Fin-Tech.

v) The Directorate of Information Technology will develop a web portal on which the developer of every Smart Fin-Tech Centre will be bound to provide/update detailed information about the names of the units in the park, utilization of built-up area, and activities being carried out, manpower employed in the Smart Fin-Tech Centre on a yearly basis.

vi) If a Smart Fin-Tech Centre has availed additional FSI as per the provisions of this regulation and subsequently it is found that the built-up space in the Smart Fin-Tech Centre is being used for non-Fin-Tech / commercial activities / any other activity, not permitted as per the Smart Fin-Tech Centre policy under which the said Centre was approved, a penal action as below will be taken, the payment shall be shared between the Authority and the Government in the ratio of 3:1.

a) The misuse shall be ascertained by physical site verification of the said Smart Fin-Tech Centre policy by a team of officers from the Directorate of Information Technology and the Authority, which has approved the building plans of the said Smart Fin-Tech Centre.

b) A per day penalty equal to 0.3% of the prevailing ready reckoner value of the built-up area that has been found to be used for non-Fin-Tech activities, shall be imposed.

c) The penalty will be recovered from the date of commencement of unauthorized use till the day of non-Fin-Tech activities.

After payment of the penalty to the Authority, which has sanctioned the building plans of the concerned Smart Fin-Tech Centre, the said Smart Fin-Tech Centre will restore the use of premises to the original purpose for which LOI / Registration was granted. If the Smart Fin-Tech Centre fails to pay the penalty and/or restore the use to its original intended use, the Authority will take suitable action under the Maharashtra Regional and Town Planning Act, 1966, against the erring Smart Fin-Tech Centre under intimation to the Directorate of Information Technology. These provisions will be over and above the penal provisions of the M.R. & T.P. Act, 1966.

vii) In this regulation the terms and expression shall have the meaning specified in the Fin-Tech Policy declared by the Directorate of Information Technology vide Govt. Resolution No.DIT- 2018/CR-17/D-1/39, dated 16th February, 2018. Notwithstanding anything contained in the existing regulation, the above provisions shall be applicable to the Smart FinTech Centre.

Other provisions of existing regulations, which are not specifically mentioned in this regulation, shall be applicable.