Greater Noida: No sale of additional floor area ratio, says Yamuna authority
Floor Area Ratio (FAR) means the proportion obtained by dividing the total covered area (plinth area) on all floors by the area of the plot.noida Updated: Sep 06, 2017 10:42 IST
The Yamuna Expressway industrial development authority on Tuesday in its board meeting decided not to allow purchasable floor area ratio (FAR) to builders. It means a builder or plot owner can only use FAR maximum up to 3 in urban areas being developed along 165 km Yamuna Expressway.
The confederation of real estate developers association of India (CREDAI), a realtors’ body had demanded that the FAR should be increased from 3 to 3.75. In 2015, the Yamuna authority had sent CREDIA’s proposal to the Uttar Pradesh government for approval, which was yet to be done. But now the Yamuna authority has turned down their realtors’ plea and took a policy decision in board not to allow purchasable FAR, an official said.
Floor Area Ratio (FAR) means the proportion obtained by dividing the total covered area (plinth area) on all floors by the area of the plot.
Purchasable FAR means a builder can cover more area and construct a taller building and population density in many residential areas will be increased thereby putting more burden on existing infrastructure.
“We have decided not to allow purchasable FAR in urban areas along Yamuna Expressway. The aim to allow low density urban areas so that residents do not face any problem,” said Dr Prabhat Kumar, chairman of the Yamuna Authority, who is also commissioner for Meerut division.
In Noida and Greater Noida a builder is allowed FAR up to 3.75.
“In some areas located along Noida-Greater Noida Metro link the builder enjoys FAR is up to 4. It means they can build taller buildings and cover more ground,” said a Noida authority official.
FAR for a plot is 2.75 and the same is hiked up to 3.25. It means that for a 100 square metre plot, an owner who was allowed to build up to 275 sq metre can now increase that to 325 sq m.
Homebuyers have been against the increase in FAR because it increases population density in a housing project and the builder delays finishing the project.
“The builder wants to purchase FAR even in under construction and already built realty projects to make more money. It troubles existing buyers and also affects the quality of life in a complex. The authority should contain this menace of purchasable FAR,” said Abhishek Kumar, president of Noida Extension flat buyers association.
First Published: Sep 05, 2017 21:45 IST