In an attempt to go vertical, the state government in Haryana is all set to increase the floor area ratio (FAR) to 500 from exiting 250 for the IT sector, providing a much-needed impetus to the industry. This is so because real estate costs in Gurgaon are very high, which often acts as a deterrent for the sector. Hence, the government is working on increasing the floor area ratio (FAR) as part of the new IT and ITES policy launched recently. It is the only sector where buildings can be expanded vertically, which is why the state has decided to increase the FAR, providing some buffer against the increasing real estate prices, said Devendra Singh, additional chief secretary (industries), Haryana. The government had increased the FAR last year too, from 175 to 250. But, the increasing real estate prices offset the advantage. However, experts said that the challenge would be to develop infrastructure keeping pace with the increase in FAR. With the proposed FAR, the area will have huge towers coming up across the city.
📅Published on:
29 September 2017
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