When you’re looking to buy a new home or an apartment in Chennai, there are many things you have to consider - location, price, size, and more. However, one of the most important factors to consider is the Floor Area Ratio (FAR). FAR determines what percentage of the land can be built upon and how much space your property can have. Understanding FAR is crucial to making an informed decision about the right property for you. In this blog, we will look in-depth into the Floor Area Ratio in the Indian market and help you understand what it is and how it can affect your home-buying experience.
What is the Floor Area Ratio (FAR)?
In simple terms, Floor Area Ratio or FAR is the ratio of the floor area of a building to the area of the land it is built on. It determines how much space you can have in a building relative to the size of the land it is built on. The FAR varies according to the zoning laws of the area. An area with a high FAR allows for taller structures with larger built-up areas, while an area with a low FAR limits the height and size of any buildingconstruction.
How does FAR impact my home-buying experience?
Every city has its zoning laws that determine the FAR for a particular zone. For instance, Delhi has a FAR of 1.5 in most areas, while Mumbai has a FAR ranging from 1.33 to 5. FAR plays a crucial role in determining the size, construction, and design of properties in a particular zone. The higher the FAR, the more built-up area you can have in a building, and subsequently, the more floors you can construct. Understanding FAR plays a vital role in deciding the size, number of floors, price, and long-term value of any property.
What are the implications of High FAR?
High FAR sounds like a great option when it comes to getting more space, but it comes with some implications. A high FAR means that you can build a larger building on a smaller piece of land, which increases the density of the population and decreases green space. A high FAR area can also lead to more traffic congestion and strain the infrastructure of the locality. Therefore, a high FAR might be desirable when you need a bigger house in a small area, but it might only be an optimal choice in some areas.
What are the benefits of Low FAR?
Low FAR areas have their advantages too. A low FAR provides more open spaces, better ventilation, and a lesser burden on the infrastructure of the locality. Such areas offer homeowners better quality of life, lesser traffic congestion, and better greenery. Low FAR also helps maintain the character and ambience of the locality.
FAR plays an essential role in determining the size, construction, and value of properties in Chennai and any city for that matter in India. Its impact on the urban landscape of any city makes it one of the most crucial factors to consider while making any real estate investment. Therefore, homebuyers need to be aware of the FAR in the area they plan on investing in. Being aware of your FAR can help you make a more informed decision when deciding on the right property for you. Understanding FAR in the Indian market is critical for any homebuyer who wants to make a smart investment in their dream home.
