Increase Floor Area Ratio- Developers Request Government

January 9, 2008	(Be the first to rate this story!)  Loading ...
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Real Estate Industry requested the Government to increase the floor area ration while developing infrastructure across the country. The request was made to create more affordable housing, seeing the rise in demand.

The plea was made on Tuesday at the national conference organised by the Confederation of Real Estate Developers‘ Associations of India (CREDAI), various developers, consultants and experts emphasised the requirement to increase the Floor Area Ratio for creating housing for all.

Mr. Niranjan Hiranandani, Managing director, Hiranandani Constructions Pvt Ltd suggested that the FSI should be increased to around 4-6 in the country. Supporting the need to increase FSI he said that the same is very vital to give quality life to the poor masses and to create houses for them.

But according to Urban Development Expert Chandrashekhar Prabhu, it is necessary to develop infrastructure in the country before increasing FAR.

Global real estate consultant CB Richard Ellis Chairman and Managing Director Anshuman Magazine also opined in the same way and said: “Ideally infrastructure should have been developed first and then FAR be increased. But unfortunately in India, it is not happening, resulting into high property prices. The magazine is of the view that both FSR and infrastructure should develop simultaneously.

News Published Under:   Real Estate Developers |

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