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    Metro corridor gets new FAR in Noida

    Metro Corridor Floor Area Ratio in Noida
    In order to provide more realty space available for builders along the Metro corridors in Greater Noida, the state government in a recent move has increased the floor area ratio (FAR) by 0.5. The new FAR will be applicable within a 1,000-metre radius of Metro corridors and that the amendment in Greater Noida's building regulation came through a cabinet meeting held by the state government. The Greater Noida Industrial Development Authority (GNIDA) had proposed to revise its building by-laws and enhance the FAR in February last year and that the nodal agency also sought objections and suggestions on the modified plan from the local residents. Following this, the proposal was forwarded to the state government for approval, GNIDA is expected to issue the notification within a fortnight. According to officials, once the gazette notification is issued declaring the increases of FAR in Greater Noida, the sale of the additional realty space is expected to go up generating Rs 3,500 to Rs 4,000cr. This amount will be used for funding the Noida-Greater Noida Metro track, which is under construction, claimed official sources.
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