Flat buyers can be seen celebrating the fast pace of under construction Noida – Greater Noida Metro and Kalindi Kunj – Botanical Garden lines. These celebrations will be short lived for most of the homebuyers who are in the aerial distance of 500 meters from the metro route. Those who are not on the metro route shall be caught by under construction tag. Your under construction project may soon have up to 45% more apartments.
You heard it right, if the under construction project (OC/CC pending) is well within the radius of 500 meters from the Noida – Greater Noida metro route, the developer can purchase additional FAR (Floor Area Ratio) of 0.5. The developer also has an option to purchase additional 0.75 FAR. This is being made available to all new and under development sectors. This table demonstrates the effective FAR in Noida.
|Existing FAR in Noida||2.75|
|Metro FAR (projects in 500 meters of metro corridor)||0.50|
|Purchasable FAR (projects in developing and undeveloped sectors)||0.75|
Don’t be disheartened, there is a way out and we have explained the same at the end of the post.
How is it possible?
Noida Authority in early 2015 decided to raise funds for Noida – Greater Noida Metro by selling additional FAR to developers along the 29 Km metro corridor. They proposed that the developers can purchase additional FAR from the Noida Authority to construct more towers and apartments in the existing complex. The proposal also had a provision of additional purchasable FAR of 0.75 for all projects in developing and undeveloped sectors.
On 27th March 2o15, the Uttar Pradesh government through a gazetted notification approved the proposal of Noida Authority. A copy of the same is attached here – NOIDA_BUILDING_REGULATION_AMENDMENTS_2015_1–
What is the definition of Developing and Undeveloped sectors?
Definition of undeveloped sectors is simple, those sectors where authority is yet to sell the land to developers are called undeveloped. The developing sectors are what troubles the homebuyers. Our interpretation of the same is that all those projects which are under construction and/or those who have not obtained Completion Certificate (even if the building is fully complete) are eligible to purchase these FAR. Technically, most of the new sectors qualifies for the purchasable FAR. Is this the reason ready to move in projects are delaying completion certificates?
Our interpretation is already proving to be correct, some of the developers have applied for additional FAR and Noida Authority has invited the objection from the buyers.
On the left is the public notice issued for Supertech, Sector 94 who applied for additional FAR of 0.5 as it falls within 500 meters of Kalindi Kunj – Botanical Garden Metro corridor. On the right is the public notice for E-homes, Sector 75 Noida who has applied for Metro FAR (0.5) and additional purchasable FAR (0.75) effectively raising his FAR from 2.75 to 4.0.
What can the developer do with the new FAR?
Those with space available on the ground shall launch new towers or the commercial areas in the existing societies. Others may increase the height of the buildings if new towers are not possible. Remember the Supertech Twin Towers in sector 93? Residents claim the developer took over their park and raised two 40 storey buildings. Most of these new towers will come at your cost. Your common areas may shrink; your park may no longer exist; Can you do something about it?
What can the homebuyers do?
We keep reminding everyone to exercise their rights. The U.P. Apartment Act 2010 does not allow the developer to change the layout plan without the consent of the homebuyers. The Noida Authority is directed to publish the notices for such application by the builders. We know the entire process of the Authority is flawed but we must raise the objections to such FAR. We explained the process to do that here – How to handle Layout Plan changes in Noida – Greater Noida
Join hands and never allow the developer to take away your common areas. While some developers are genuine and clearly embark future development areas in their layout plans, there are other who shown big open parks and later raise tall buildings over it. The buyers must not allow the later one to succeed.