Noida Extension Latest News Update : Greater Noida body seeks to hike floor ratio
Source : TimesofIndia
The Greater Noida Authority (GNIDA) has cleared a proposal to increase the floor area ratio of group housing plots from 2.75 to 3.50, which if approved by the state government will enable promoters in Noida Extension-Greater Noida to build roughly 25% more flats.
The move is seen as a bid to help developers recover from the burden of a three-fold hike in land rates announced by GNIDA in the past few months.
“The purpose of increasing the FAR of group housing land in Greater Noida is to enable the building of smaller and more affordable houses, which are currently the need, rather than bigger units,” said a GNIDA official.
Source : http://timesofindia.indiatimes.com/city/noida/G-Noida-body-seeks-to-hike-floor-ratio/articleshow/10084812.cms
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