Real estate industry on Wednesday hailed increase in floor area ratio (FAR) and ground coverage for plots in Delhi, saying the move would allow more built up area on bigger land parcels, but felt that housing supply would not be boosted till height and density norms are eased.
Urban Development Ministry increased the FAR and ground coverage in Delhi. FAR in respect of plots of 750–1000 sq mt size has been raised from 150 per cent to 200 per cent while the same has been increased from 120 per cent to 200 per cent for plots of 1000 sq mt and above.
FAR is the ratio of a building's total floor area as compared to the size of the land upon which it is built.Ground coverage for plots of 1000 sq meter and above has been increased from 40 per cent to 50 per cent."The increase in FAR in Delhi is a welcome move. This will benefit plot owners of 750 sq meter and above who are mostly HNIs," CREDAI NCR President Rohit Raj Modi said.
However, Modi said: "There is a need for clarity on density norms and height specification. Hike in FAR would be effective in boosting supply if there is an increase in number of dwelling units, density and height."
Property consultant CBRE South Asia CMD Anshuman Magazine said: "This will lead to an increase in built up areas in colonies in South Delhi and some other parts of Delhi where there are plots of bigger size."