Who owns the future Floor Space Index: Builder or housing society? Bombay High Court clarifies

Bombay High Court ruled developers cannot delay conveyance of land and buildings to cooperative housing societies to retain rights over future Floor Space Index (FSI).

The ruling applies to societies in Mumbai and the Mumbai Metropolitan Region, strengthening homebuyers' legal position for timely conveyance.

In the case of Ariisto Cloud Co-operative Housing Society in Vile Parle (West), the court rejected the developer's argument that DCPR 2034 entitled it to exploit additional development potential, preventing conveyance.

The court stated that allowing such delays would let builders indefinitely postpone conveyance whenever development regulations are amended, defeating the objective of the Maharashtra Ownership of Flats Act (MOFA).