Development charges calculation at MIDC
Understanding development charges calculation at MIDC.
Development charges are fees levied by MIDC for development activities within industrial areas, contributing to infrastructure and amenities..
Factors Affecting Development Charges
The calculation of development charges depends on several factors, including:
1. Type of development: Industrial, commercial, residential, or mixed-use.
2. Plot size and location: Different MIDC areas have varying rates.
3. Floor Space Index (FSI): The permitted built-up area on a plot.
4. Proposed construction: The type and size of the building.
5. Applicable government regulations and circulars.
6. General Calculation Process
While specific calculations can vary, the general process involves
Determining the base rate – per square meter for the specific zone and type of development.
1. Calculate the space that can be built on: This includes the land area and the area approved for construction.
2. Adjust for FSI: The space that can be built on is changed based on the allowed Floor Space Index (FSI).
3. Consider extra costs: There could be extra costs for facilities, infrastructure, or other reasons.
4. Total development charges: Multiply the space that can be built on by the base rate and add any extra costs.
Please remember: The rates for development charges can change often, Understanding the various rules and exemptions can be challenging.
Professional assistance: Engaging a consultant can save time and ensure accurate calculations.
Example ( Understanding Purpose Only)
Plot size: 10,000 sq. m
FSI: 2
Base rate: Rs. 1000 per sq. m
Calculation:
Plot size * FSI = Chargeable area
10,000 sq. m * 2 = 20,000 sq. m
Chargeable area * Base rate = Development charges
20,000 sq. m * Rs. 1000/sq. m = Rs. 2,00,00,000/-
Please note: Calculating development charges at MIDC can be complex and involves various considerations. This response provides a general overview. It’s strongly recommended to consult or lawful expert for precise calculations based on your specific requirements and location.
Regards,
9819992310 – Sushant Bhilare
9819997500 – Atul Borse
help@midcwala.com
www.midcwala.com
