Now, you can buy a posh apartment at a 5-star hotel in Delhi
Taking luxury living to new heights, Delhiites will now be able to buy posh ‘service apartments’ in high-end hotels.delhi Updated: Aug 05, 2015 23:36 IST
Taking luxury living to new heights, Delhiites will now be able to buy posh ‘service apartments’ in high-end hotels.
Delhi’s civic planners have modified some key rules in the capital’s Master Plan to enable people to buy such property.
The urban development (UD) ministry has approved the changes in the development control norms for hotels in master plan for Delhi-2021, which would not only allow hotels to use 20% of the floor area as service apartments but also sell the apartments as residential units if the hotel land is freehold.
But if the hotel land is leasehold, the transfer of ownership of residential units will be allowed only after Delhi Development Authority (DDA) frame rules for this purpose.
In all, the proposal cleared by the UD ministry would allow hotels to keep aside a maximum of 40% of the floor area ratio — as against 20% earlier — for commercial offices, retail and service shops. Of the 40%, the hotelier would be allowed to keep aside 20% FAR for service apartments.
FAR is the ratio of a building’s total floor area (gross floor area) to the size of the piece of land upon which it is built. FAR is used by local governments in zoning codes. Higher FARs tend to indicate more urban (dense) construction.
The DDA will issue a formal notification in this regard shortly.
The changes would benefit the category of travellers, including business delegations, who have to stay for longer duration in the city.
“While those buying the service apartments would be able to get home-like facilities in five-star environs, the hoteliers can generate more revenue by selling off service apartments and using 40% of the area for commercial purposes,” said a DDA official.
Presently, many developers provide standalone service apartments in the Capital but it would be the first time that hotels would be able to earmark 20% area for service apartments within their premises.
First Published: Aug 05, 2015 23:33 IST