Ever thought of living in a hotel, not for a day or two, but actually like a home in a hotel? This dream of yours might come true. The ministry of urban development of Delhi has come up with a brilliant idea under its review of Delhi Master Plan- 2021. Hotels will be allowed to use 40% of their Floor Area Ratio (FAR) for other purposes like commercial, retail and for residential purposes as well. However, the residential part will only be allotted an FAR of 20% of the total.For the readers who do not know what FAR is, here is a brief description. Floor Area Ratio is the total area of all the floors of the building divided by the total area of the plot on which the building is erected. Every locality has its own FAR set by the municipal authorities and the developers have to follow the same while planning and constructing their projects. Builders coming up with Real Estate in Noida have to follow the FAR listed by the municipal authority of that locality. Lesser is the FAR, more can be the number of floors in a particular building.
In this case, it is said that the hotels will be allowed to use 40% of their FAR for other purposes. This means that if the hotel is built on a 10,000 sqft. plot, 4,000 sqft. can be used for commercial and other purposes. But only 800 sq.ft, that is 20% of 4,000 sqft., can be utilized for providing residential units in the hotel premises. Earlier, this percentage was reckoned at only 20% which was later increased to 40%. If builders want to utilize a higher FAR of their hotel building for other uses, they will have to pay a certain amount to the authorities. The rate is yet to be determined.
Another rule laid down by the DDA in this regards is that the building should be freehold in order to allow transfer of ownership of the residential units built within it. If it is leasehold, rules are yet to be framed in this regards.
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