MUMBAI: An amended BMC parking lots policy submitted for state government approval, could earn it several hundred crores a year from builders. The developers , who build parking lots free in return for incentive construction rights, will now have to share 40% of their profits with the BMC. “Each new parking lot could get us Rs 50 crore to Rs 60 crore. Municipal commissioner Subodh Kumar overtake the original policy a few weeks ago because it was delayed in accusation of favoritism and corruption.

In March, CM ordered the BMC to review it after criticism that the scheme only helped builders enjoy unusually high profits under the appearence of executing a public scheme. Developers used this scheme which is very well known Parking FSI to build 50-60 storey-high luxury skyscrapers, mainly in central Mumbai.

Critics said developers spend hardly Rs 1,500 a sq ft to build parking lots, but the incentive as additional FSI from the government was worth Rs 20,000 –  Rs 25,000 per sq ft.

The amended policy will constrain the height of the parking lots to ground plus 04 storeys and two basements. The original scheme sanctioned parking towers of 10-15 storeys high. The BMC committee wants the traffic police department to evaluate peak level actual parking on all roads over 60 feet wide and 250 m in length as well as on station and public assembly areas.

The BMC issued starting certificates to 11 public parking towers, eight in the Parel-Dadar belt and three in Goregaon for 15,845 vehicles. Only these projects are given go ahead.