Additional FSI Sample Clauses
The "Additional FSI" clause defines the terms under which extra Floor Space Index (FSI) or development rights may be obtained or utilized in a real estate project. Typically, this clause outlines the process for acquiring additional FSI, the party responsible for associated costs, and how any resulting benefits—such as increased buildable area—are to be shared between stakeholders. For example, if new regulations permit higher FSI, the clause may specify whether the developer or landowner is entitled to the extra space and how profits from its use are distributed. Its core function is to preempt disputes by clearly allocating rights and responsibilities related to future increases in permissible construction area.
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Additional FSI. If any additional FSI is available for the Schedule Property or for the use for which the land is leased as on the date of Agreement to Lease or if the same becomes available after the execution of the Agreement to Lease or the Lease Deed, the Intending LESSEE may use the same with prior permission of the LESSOR subject to payment of additional lease premium and other charges as may be determined by the LESSOR from time to time.
Additional FSI. In case if any Additional FSI over and above the Development Potential under DCPR 2034 accrues on or becomes available for utilisation on the Land prior to receipt of occupation certificate in respect of the Project, then:
10.1 The Developer, with the prior written consent of the Society, shall be entitled to utilize and/or deal with the Additional FSI on the Land in such manner as it deems fit. The Parties shall mutually discuss and enter into a supplemental agreement to record the terms in respect of the Additional FSI.
10.2 However, in the event such Additional FSI becomes available after receipt of full occupation certificate in respect of the Project, then such Additional FSI shall belong to the Society.