India's hottest property market, Mumbai, could see some shakeup in the

Commercial realty space. In a significant development, the Mahrashtra

Government has decided to allow all upcoming IT parks and IT specific

buildings in the city to utilise 80 percent of the total constructed area

For financial services, besides IT and IT enabled services.

At present only 30 percent of the total constructed area can be given to

Financial services. In a notification issued last week, the state government

Said in order to develop Mumbai as an international financial hub and to

Generate additional employment, it has been decided that all such building

Which are eligible for additional FSI of 100 percent, can now utilise 80

 Percent of the total constructed area for financial services, apart from IT

And ITES.

                                                   Courtesy:- ET dtd:- 5th Sep 2008