Every one of us harbors a dream of owning residences and living in a home that we can call ours. Today, increasing numbers of home investors are entering the residential real estate market and looking toward buying their own homes. However, this process of buying a home may seem overwhelming, especially because of all the terms used in the market.
One term that is used most often in the real estate market is FSI, the abbreviation for Floor Space Index. Also known as the Floor Area Ration (FAR), this factor determines the total number of floors allowed on a plot. FSI is the ratio of the total covered area contained on all floors to the gross area of the plot.
The Floor Space Index is determined and implemented by the local municipal authorities and will vary from place to place. The FSI is calculated based on different factors, which will include the size of the plot and type of building. The zone of the city and essential amenities in the area will also play a role in determining the FSI.
The FSI of a plot will be dependent on its location and will differ between different areas of the city. Permissible FSI in a newer, developing area may be different from the FSI in a well-established area of the city. The FSI value can be revised depending on the growth and development of the city and the current land value.
Basements and service areas may or may not be counted toward the calculation of FSI, making this a complicated process. Every city has its own regulations, and it is absolutely necessary to familiarize oneself with the local rules regarding FSI. Knowledge of this real estate term will help you to make an informed decision upon the purchase of your home.
The Prestige City new launch township at Sarjapur Road, East Bangalore.