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Extra FAR charges likely to be based on type of properties

The UT administration is going to adopt different formula for calculating charges for different types of properties in connection with availing additional floor area ratio (FAR). In the coming days, the UT will also form a sub-committee in this regard.

The UT administration is going to adopt different formula for calculating charges for different types of properties in connection with availing additional floor area ratio (FAR).

In the coming days, the UT will also form a sub-committee in this regard. Recently, the 11-member committee on property matters, which was formed on the directions of the Supreme Court, and is headed by MP Kirron Kher, had made the same suggestion in their set of recommendations.

The committee, in their recommendation, which was also submitted before the Supreme Court, had stated that for availing additional FAR, the administration should adopt a different formula for different type of properties. It had directed that a sub-committee comprising assistant estate officer, secretary CHB and MC joint commissioner recommend a different formula. Currently, rates of additional purchasable FAR are same for commercial, residential, institutional properties.

The minutes of the meeting read, “It was discussed that rates of additional purchasable FAR are same for commercial, residential, socio religious properties. Chandigarh administration should re-examine rates and different formula shall be adopted for different type of properties”.

Meanwhile, traders of Chandigarh, urged the UT administration that rates should not linked with collector rates and rather with allotment rates of the properties.

Chander Verma, president, Chandigarh Business Council (CBC), said the rates the rates of additional FAR were Rs 200 per square feet, which were recently hiked to Rs 3,500 per square feet. The industry and trader bodies were demanding to increase FAR but the administration didn’t increase the FAR, rather it linked the charges with collector rates. “If the administration wants to help the industry and business, it should link additional FAR charges with allotment rates,” he suggested.

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