Industry & Economy
-
Real Estate & Construction
States
-
Kerala
Kerala builders oppose curbs on floor area ratio
Our Bureau
Advertisement
|
|
Kochi
Jan. 23
Various organisations in the construction industry have protested against the new floor area ratio (FAR) restrictions imposed by the State Government in Kochi.
According to Mr George E. George, Secretary, Kerala Builders Forum, these new restrictions will stall the development of the city as the financial capital of the State. The FAR restrictions imposed exclusively on Kochi will adversely affect the ensuing mega projects earmarked for the city, he said at a press meet.
The regulations, while keeping mum on burning urban issues such as new roads, widening of existing roads, flyovers and parks, are overenthusiastic in implementing unscientific zone regulations and structural reforms. He alleged that the rapid development of Kochi, as an emerging metro, is about to come to a standstill because of the new regulations.
CONSTRUCTION COST
The advent of new rules will result in a steep hike in construction cost, which is estimated to be Rs 500/sq ft. The already skyrocketing prices in the city will rise further in addition to steep hike in rentals. What attract new IT enterprises here are comparatively lower construction costs and lower rentals.
The regulations will adversely affect the growth of tourism and hospitality industries as well, he added.
The Builders Forum pointed out that construction of high rises to make optimum utilisation of land is a universally accepted development policy including that of National Housing Policy.
The new rules will lead to more land utilisation, encroachments on green belts and ecologically hazardous developments, they said.
More Stories on :
Real Estate & Construction |
Industry Associations |
Kerala
Article
E-Mail
::
Comment
::
Syndication
::
Printer Friendly Page
|
