There may be valid political and sociological reasons for increasing the Floor Area Ratio (FAR) in HUDA’s colonies in Haryana’s new emerging towns, but only a blind leap of faith can justify the conclusion that this move will help pull the property market out of recession. Logic indicates otherwise. FAR is the ratio of a building’s total floor area (gross floor area) to the size of the plot of land upon which the house is built. In a decision announced recently, the Town and Country Planning Department said that home owners would be allowed to ‘purchase’ space over and above the existing permissible limits.
Read more: Economic Times
