Small real estate developers in Ghaziabad set to benefit from new building by-laws

NEW DELHI: The latest amendments to building bye-laws by the Ghaziabad Development Authority (GDA) are expected to benefit small builders present in the region.

Under the new bye-laws, apart from changes to the minimum size of plots of which a builder can construct apartments and the heigh of such buildings, GDA has also also introduced the concept of purchasable Floor Area Ratio (FAR) for developers on economical rates near metro train systems.

Istiaq Ahmed, chief architect and town planner at GDA said that the new amendments will not offer any significant benefits to big developers and for large group housing projects but it will definitely benefit small developers in the region.

"The move will also help in optimum utilization of available land," he said.

According to recent amendments, the minimum plot size to construct stilt parking plus four floors has been increased from 120 sq metres to 150 sq metres. The provision to make the setback area a function of the plot size has also been added.

Gaurav Gupta, general secretary of industry body CREDAI Raj Nagar Extension said the new changes now define how many units are allowed to be constructed on a particular plot which brings in the much needed clarity for construction over plots.

Further, the purchasable FAR factor for commercial land use is reduced from 0.80 to 0.50, and office/institutional land use has been cut down from 0.60 to 0.45. The purchasable FAR factor for mixed land use near the metro train systems has been reduced to 0.45.

Amit Modi, director, ABA Corp and vice president of CREDAI Western UP said, that the move to introduce purchasable FAR for developers on economical rates, which in another words means more economy to procure purchasable FAR, will be very beneficial.

Apart from this GDA has also taken certain measures to improve the civic infrastructure of the region. In order to address the problem of roadside parking, stilt parking has been made mandatory in all buildings being developed in plots measuring 150 square meters and above. The ‘roads’ have been redefined with ‘roads, pathways and cycle-tracks’ which means construction from now on will include all three to be developed simultaneously.

SOURCE: ETRealty