FAR – Concept favors realty sector fraternity

By Mr. Ashok Gupta, CMD, Ajnara India Ltd.

Earlier, the combination of government reforms, falling demand, and bad loans were hurting India’s realty sector. However, now with a lot of fixing the market pundits had their roots strengthen in the market.The challenging situation soon started developing and the sector got shaped tremendously since a couple of years as soon as regulatory body came into being. Gradually, the sector earned immense dignity and also the many professional players made their way forward. Post the introduction of RERA, the default and fraud transactions lost their way and were thrown out of the market which in turn is working towards the interest of the customers.

With realty sector evolving with time, the ethics and guidelines stated by the regulatory body should be taken care of. The use of good quality of raw material, right method of construction, timely delivery of projects and many more should be followed under the rules of government and respective authority. FAR (Floor Area Ratio) being a key determining factor for development in any country, has to be determined prior to the construction of any building. Every city has a limited capacity or limited space that can be utilized safely and if used beyond this point, puts undue stress on the city. The increased FAR is a positive upshot for the sector because it helps the builders to get more horizon and space to build the properties. It enables to complete more projects, which inevitably leads to greater sales, decreased expenditures per project and greater supply to meet demand.

The measurement of FAR and following the regulated ratio is indispensable for buyers as well as for builders as it maintains the transparency and keeps the reputation of builders intact. The complete detailing demonstrates the credibility of the land which further leads to elevate the confidence of buyers and builders. These will result into hassle free transactions and will turn out to be a win-win situation for builders, buyers and authorities as well. FAR depends upon the geography of the land and terrain, the quality of both decides the ratio. Industrial, residential, agricultural, commercial and non-agricultural spaces typically have different FAR’s and government ensures them to put into effect.

Corporate Comm India(CCI Newswire)