STOCK MARKET BSE NSE

Realtors Seek Relook into BDA's FAR Move

Published: 07th February 2016 06:40 AM  |   Last Updated: 07th February 2016 06:40 AM   |  A+A-

BHUBANESWAR: The Real Estate Forum of the City on Saturday held a meeting with Bhubaneswar Development Authority (BDA) Vice-Chairman Krishan Kumar and raised concern over the reduced floor area ratio (FAR) and newly introduced transferable development rights (TDR) rules.

While the reduction of base FAR will lead to a surge in housing cost, the policy is not full-fledged and elaborative enough to be understood by the common man. “Any new policy which would come into force should be complete and self-explanatory, else there are chances of non-acceptance and eventually lead to failure of the plan,” AFORD secretary Nishit Nanda said.

The forum expressed grievance for not taking them in pre-policy discussion and reducing the existing FAR hastily from 2.75 to a flat 1.2. They insisted to maintain the existing FAR for the time being and if any reduction to base FAR is required, it may occur gradually taking the socio-economic, zoning, density and other parameters into account.

The realtors suggested to allow implementation of TDR on and above the existing FAR as an incentive to create a demand for purchasing FAR which would also supplement the Government’s requirement to acquire land for infrastructure development.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp