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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Noida > Any chances of increase in FAR in near future
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Old April 15 2010, 07:41 PM   #1
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Default Any chances of increase in FAR in near future

Hi

I would like know, when was the last time there was a increase in FAR in NOIDA.
As right now it is 2.75 .
The reason I am concerned is in case if it happens then the builder might think of making few more towers. As it has already happend in lot of projects.
 
Old April 15 2010, 07:55 PM   #2
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Hey Nibha,

Just wana ask yu a question. Suppose FAR is 2.75 currently and builder has paid the price of the plot accordingly to Noida, once the FAR increases will it not be only for the new Plots? I a not sure if it appliciable on the old Plots also. Please correct me if i am wrong.
 
Old April 15 2010, 08:00 PM   #3
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I am not sure on this , just read on some thread that till a builder does not get the completion certificate he can build more flats ...
Builder pays the price just for the plot, not based on the FAR

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Originally Posted by vishal1880 View Post
Hey Nibha,

Just wana ask yu a question. Suppose FAR is 2.75 currently and builder has paid the price of the plot accordingly to Noida, once the FAR increases will it not be only for the new Plots? I a not sure if it appliciable on the old Plots also. Please correct me if i am wrong.
 
Old April 15 2010, 08:09 PM   #4
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Come on man. The FAR is also the term of the clause.
 
Old April 15 2010, 08:19 PM   #5
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Vishal1880 is correct.

FAR, Ground coverage and Height limitations - All of these are established even before plot is auctioned off for a Group Houshing. Any bidder will have to abide by the contract.
 
Old April 15 2010, 08:35 PM   #6
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Builder can add more flats until project is complete. Check the Buyer agreement of any project it's clearly written in document. Also project launched last year added new towers after that.
 
Old April 15 2010, 10:09 PM   #7
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Quote:
Originally Posted by vishal1880 View Post
Come on man. The FAR is also the term of the clause.
Vishal, far is also there but What I am asking is increase in FAR after the plot is sold.
 
Old April 16 2010, 12:25 AM   #8
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Default Increase in FAR

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Vishal, far is also there but What I am asking is increase in FAR after the plot is sold.
I read on one of the threads that Amrapali might be changing the master plan of one of its existing projects i.e. converting plots/villas to towers to take advantage of higher FAR - so yes offcourse even older plots/projects can take advance of lax NA rules.

and btw nowadays NA ads for auction of GH plots - clearly says 'HEIGHT NO LIMIT'.
 
Old April 16 2010, 09:36 AM   #9
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I may give the example of Gaur Grandeur Sec-119 Project, Where builder has completed the phase 1 towers of G+14 floors, i dont know the FAR of NOIDa at that time but during construction, Noida authority has increased the FAR to 2.75. As a result, Gaur has slight changes the Phase 2 layout of the tower and is building the G+21 floors Plus 10 flats per floor to get the max profit out of the noida authority decision. As a result, he has reduced the common area for the Phase 1 allotees as promised by him initially. Anyhow, all allottees are the puppets in the hands of the builders till the project is completed with all phases.
 
Old April 17 2010, 03:31 PM   #10
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Quote:
Originally Posted by nibha View Post
Vishal, far is also there but What I am asking is increase in FAR after the plot is sold.
Once a plot is sold the builder has to abide by the then FAR for construction.
There could be changes (increase) in FAR from time to time. Once FAR increase is announced by authority than builder has the option to 'purchase' FAR from authority.

Not sure as to how this would affect already build societies...
 
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