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Floor space ndex for house constructions increased
Posted on: 01/Oct/2018 4:38:06 PM
The Chief Minister of Tamil Nadu has announced that the area allotment index for houses in Chennai and other cities has been increased and this will be effective from today (Monday, 1st October).
With this proposal, there are prospects of construction expenses coming down and the prospects of housing prices coming down as well.
For the construction of houses or multi-storeyed apartments in Chennai Metro, the regulation of Floor Space Index (FSI) is followed.
For the construction of buildings under the category ‘Special Construction’ which have less than 4 floors, this FSI has now been increased by 2 times. In other words, the construction area of 2.0 times more than the plot/floor area can be used for construction.
For example, as per the regulations until now, in an allotted are of 1000 sq. ft. plot, a construction of 1500 sq. ft. can be built. However, there have been demands that this increased FSI is not still sufficient and it must be further increased to bring down the construction expenses.
In this scenario, while addressing the gathering at the MGR Centenary celebrations, the Chief Minister announced that for all category of constructors, the FSI has been increased from 1.5 times to 2 times. This would be effective from today (Monday, 1st October).
As regards the benefits of this revised FSI, it is ok to construct an area of 2000 sq. ft in an allotted floor area of 1000 sq. ft. Further, it is possible to construct new houses with a higher area of constructions in the old plots without buying additional land. Thus, a substantial expense for the expense of buying additional land is saved. This would enable the construction traders to sell the houses at lower prices. So, this benefit will directly reach the public.
It will now be possible to build taller buildings in Chennai Metro. A situation of the reduction in land requirement will be thus created in a city like Chennai which is having a dense construction rate.
It is worth noting here that in Ahmadabad, capital of the state of Gujarat, FSI prevailing is 3.5 times.
In countries such as Singapore and Malaysia, FSI is 5 times. In New York, FSI is 9 times.
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