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The government's recent unveiling of proposed revisions to Bhopal's draft master plan has triggered a frenzied rush to finalize ongoing development endeavours for approved building construction within the state capital. Experts from the industry are meticulously scrutinizing the potential ramifications of adjustments to the base floor area ratio (FAR) and the associated construction premiums.
Manoj Singh Meek, the spokesperson for the Confederation of Real Estate Developers' Associations of India (CREDAI) MP chapter, expressed apprehension about the looming impact of the new FAR slabs and premiums, warning that they could potentially fuel an upward surge in housing prices. CREDAI has convened a meeting to comprehensively discuss the ramifications of these amendments to Bhopal's draft master plan, urging stakeholders to submit objections and suggestions within a designated 30-day timeframe.
In response to the proposed modifications, entities such as the Bhopal Development Authority (BDA) have called for the prompt commencement of construction activities pertaining to long-pending schemes, some of which have remained unresolved since 2014. Kishan Mohan Soni, Chairman of BDA, acknowledged that the approved construction for these schemes will be adversely impacted by the amendments made to the draft master plan. Soni highlighted a particular instance involving a development project by the BDA wherein a 23-meter road has already been designated, while the new proposal necessitates an expanded 45-meter thoroughfare, thereby impacting the existing layout of agricultural land.
While some experts argue that alterations in density norms and an increase in FAR could potentially benefit builders and buyers alike, developers hold a divergent perspective. They contend that Bhopal cannot be reasonably compared to a bustling metropolis, underscoring the fact that a change in the base FAR would inevitably curtail development potential on plots, thereby necessitating the acquisition of premium FAR for any additional construction.
Under the extant Bhopal master plan from 2005, a uniform base FAR of 1.25 prevails across all zones. Notably, the Residential General-4 (RG-IV) zone has been assigned a FAR of 0.25, encompassing the majority of new developments. The acquisition of premium FAR can be facilitated at a rate equivalent to 50 percent of the collector's guidelines for the specific area. It is worth mentioning that the CMU-1 and CMU-2 zones predominantly comprise preexisting older structures, which are slated to receive incentives for redevelopment by means of higher FAR provisions.
Importantly, it must be reiterated that the extant Bhopal master plan from 2005 continues to retain its legal standing. Nevertheless, the proposed amendments might cause a slight delay in the development process as the changes need to be incorporated. The new master plan is still in its nascent stage, being a mere draft version.
Floor Area Ratio (FAR), also known as Floor Space Index (FSI), is the measure of the relationship between the total usable floor space and the plot area of a building. The FAR is determined by the local municipal corporation based on factors such as population density, open space, environmental impact, and resilience to natural disasters. It is essentially the safe load a land parcel can bear, and it varies depending on the land usage, such as residential, commercial, agricultural, or industrial.
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