Industry urges govt to review new FAR

Kochi, Jan 22 (UNI) The construction industry today urged the Kerala Government to review the new Floor Area Ratio (FAR) stating that it was detrimental to the development of this city.

According to an industry spokesperson here, various organisations in the construction industry protested the new FAR on the grounds that it would stall development of the state's financial capital.

The restrictions imposed exclusively on Kochi would adversely affect the ensuing mega projects earmarked for the city.

The regulations while keeping mum on urban issues like new roads, widening existing roads, fly overs and parks, was over enthusiastic in implementing unscientific zone regulations and structural reforms, he said, 'While the prevailing FAR application in other urban areas in the state is four, it has been restricted to 1 to 2.5 in Kochi. The illogical regulation restricts FAR as 1.25 in developing areas like by-pass and Seaport-Airport road and generously gives 2.5 FAR to already saturated area like MG Road,' he alleged.

The advent of new FAR rules would result in a steep hike in construction cost, which is estimated to be Rs 500 per sq ft, he said.

The attraction for IT enterprises to the city was comparatively lower construction costs and lower rentals but the new FAR regulations will adversely affect the growth of tourism and hospitality industries, he added.

UNI