Haryana DTCP Hikes FAR Rates

26 Sep 2024 CW Team

The Department of Town and Country Planning (DTCP) in Haryana has announced a significant increase in the Floor Area Ratio (FAR) rates for large plots, imposing a 20% hike. This revision, effective immediately, aims to optimize land utilization and promote balanced urban development in the region. FAR, a critical parameter in urban planning, determines the maximum allowable floor area that can be constructed on a given plot of land. By raising the FAR rates, the Haryana government is encouraging more efficient use of land, particularly in urban and semi-urban areas.

The increase in FAR rates is expected to facilitate the development of larger residential and commercial projects, potentially leading to a boost in real estate activities. Developers and builders are likely to view this hike as an opportunity to enhance the viability of their projects while addressing the growing demand for housing and commercial spaces. The DTCP has emphasized that this move aligns with its broader objectives of sustainable urban development and efficient land management.

Stakeholders in the real estate sector are closely monitoring these changes, as they could have implications for project financing, development timelines, and overall market dynamics. While the hike may pose challenges for some developers in the short term, it is anticipated to foster long-term growth in the region's property market. As Haryana continues to expand its urban landscape, the government's proactive approach to adjusting FAR rates reflects its commitment to facilitating organized and planned urban development in the state.

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