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Clause No. 14.7.15
Conversion of Old Project into New Project
i) “Projects, where LOI has been granted, shall be treated as per the provisions existing on the date of LOI. In case such a project comes up for revised LOI or change of developer or any other change, including recording and resubmission without change in slum boundary, these regulations shall apply. Provided further that for amalgamation of schemes being sought and for schemes that have been sanctioned under different regulations (earlier as well as current one), FSI calculations shall apply as per these regulations”
a) Schemes approved prior to coming into force of these Regulations:- The slum rehab schemes where LOI has been issued by SRA prior to the date of coming into force of these Regulations and which is valid may continue to be governed by the regulation applicable prior to these Regulations.
b) Wherever the S.R. Scheme sanctioned by CEO (SRA) is under progress on reservations shall be valid & continue.
iii) In case of conversion of old SRD Scheme to new S.R.Scheme on land owned by Govt. Semi Govt. undertaking and local bodies, the developer shall pay the premium at the rate of Twenty Five percent of land value as per the ASR in proportionate to difference of FSI sanctioned in old SRD Scheme and new S.R.Scheme. Payment of premium shall not be applicable to those schemes wherein lease already executed by concerned authorities.