Wednesday, September 22, 2010

Higher FAR To Help Realtors In Developing More Apartments

The higher floor area ratio (FAR) announced for the suburb of Noida is likely to help real estate developers there build more apartments on a plot. It is also expected to lower prices in a market which is described as having "excess supply". There are more than a dozen builders like Jaypee Greens, Supertech, Earth Infrastructure, Gaursons, Prateek Buildtech, Nirala Developers, Anthem Infrastructure, Logix Group, 3C Company, Amrapali and Assotech who have recently announced projects here. "There are so many builders now who have come up with projects in and around Noida. Every builder wants to cash in on the demand in the housing space. Prices have more or less stabilised, but one can expect it to go down, as every week we witness one or another project getting launched," said Mr Manu Goswami, head, business development and strategy, Jaypee Greens. The New Okhla Industrial Development Authority (Noida) recently announced an increase of FAR from 2.5 to 3. For 'green' buildings, it has been increased from 2.75 to 3.75...


4 Sep 2010 Business Standard

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