UP govt notifies rules for purchasable FAR fee, fixing levy
Hindustan TimesThe Uttar Pradesh housing and urban planning department has framed new rules for the assessment, levy, and collection of the purchasable floor-area ratio fee, providing a standardised framework for developers seeking additional FAR beyond the regular limit, officials said. Under the new rules, developers must pay the full FAR fee before obtaining permission under Section 15 of the UP Urban Planning and Development Act. To be sure, the charge payable for purchasing additional floor space in Uttar Pradesh is calculated as by the following formula, where the charge is equal to “ x Purchasable factor x current rate of land set by the local authority.” Under the new rules, developers must pay the full FAR fee before obtaining permission under Section 15 of the UP Urban Planning and Development Act. “The new rules will bring more transparency in purchasable FAR fee collection by the development authorities,” said Gaurav Gupta, secretary, CREDAI NCR.
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