FSI, Floor Space Index, FAR or Floor Area Ratio, in Lucknow, is a major factor to consider while constructing a building since it is the maximum area in a plot to be used for construction.
Whether you’re a builder or an individual in Lucknow wanting to construct a house or any building on a plot of land, you must be aware of the FSI laws of your city. Floor Space Index (FSI), also known as Floor Area Ratio (FAR), is the maximum area in a plot you can use for construction. This value varies with each city; the local municipal authority usually sets the value.
How to Calculate FSI in Lucknow?
The Floor Space Index in Lucknow is calculated as below.
Formula: The total buildup area across different floors/The total area of the plot in sq.m
The constructed area includes all the basic structures, including patios, balconies, basements, and stairways.
The Floor Space Index value in Lucknow also depends on other factors, including:
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The type of building
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The total size of the plot
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The size of the roads surrounding the plot
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The availability of essential factors like sewer lines, running water, and power
Importance of FSI
FSI is super important in crowded cities like Lucknow to handle congestion and ensure that the city’s resources are distributed evenly. Most cities want to dedicate a certain percentage of the area to public places like parks and roads. Without FSI restrictions, these cities will get overcrowded with buildings. Floor Space Index in Lucknow also helps control vertical building growths and prevents people from having to fight for amenities like water and electricity.
When the FSI value is high, the plot value is also high. Most people buy plots in high FSI areas to construct commercial or residential structures and rent/lease them out.
Floor Space Index in Lucknow
According to the Lucknow Development Authority (LDA), the average Floor Space Index in Lucknow ranges between 1.25 and 1.5.
Before 2016, the LDA had a minimum plot size requirement of 2000 sq.m to build apartments. Since 2016, though, the minimum plot area requirement has been reduced to 300 sq.m. This has given rise to several smaller residential apartments in the city since then.
Purchasable Floor Area Ratio in Lucknow
The charge for purchasing the extra Floor Space Index in Lucknow is calculated as below.
Charge (C) = Le X P X Rc
Le – additional floor area required (in sq.m) X 100/ Actual FAR
P – Purchasable Factor
Here are the purchasable factor limits for different buildings:
Rc – Current Residential rate of the land decided by the local government authorities
Unitary residential buildings and industrial buildings cannot make use of the purchasable Floor Area Ratio.
Why is FSI Important for Real Estate Developers in Lucknow?
Real estate developers in Lucknow typically favour a higher FSI to increase their profit margin. One way to increase the FSI value is to encourage the emergence of apartments. If the FSI were greater, a real estate developer would undoubtedly build a high-rise structure and sell more homes to customers.
Developers would profit more from the overall urbanisation of developing regions and housing for all schemes, which would also assist in closing the current imbalance between supply and demand for real estate.
Wrapping UP: FSI or FAR in Lucknow
Disclaimer:
Magicbricks aims to provide accurate and updated information to its readers. However, the information provided is a mix of industry reports, online articles, and in-house Magicbricks data. Since information may change with time, we are striving to keep our data updated. In the meantime, we suggest not to depend on this data solely and verify any critical details independently. Under no circumstances will Magicbricks Realty Services be held liable and responsible towards any party incurring damage or loss of any kind incurred as a result of the use of information.
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