What is FSI?
Floor Space Index (FSI), also known as Floor Area Ration (FAR) is the maximum area that can be constructed on a piece of land. The municipal or local authorities of the respective State Government regulate it. The concept of FSI or FAR was introduced in America for building control to help architects design buildings according to the given ratios. FSI is also used to calculate the built-up area of the plot and to calculate the number of floors that can be constructed. While the higher value of FSI or FAR indicates that the construction is denser, the lesser value means a sparse type of construction.
FSI Calculation formula:
FSI = (Total constructed area) / (total land area)
FSI or FAR impact on property price
FSI or FAR has a major impact on the price of land. It helps in knowing the parameters of a plot like the size and width, thus helping us understand how much land can be utilized. But, it doesn’t remain the same for all locations, it differs from area to area. If FSI or FAR goes up, the chances of getting a better utilization, housing stock and space also goes up. This, in turn, impacts the price of the property. Because, if the builder can construct more and they will sell more, and thus they will charge reasonable charges from the home buyer. It is suggested that if you are planning to buy a flat or land in Bangalore or Chennai then buy from a branded developer as they have expert architects and designers who help them get better FSI.
Why FSI is it important?
Before FSI was in the play the building activities were happening without control. Thus, to regulate vertical building growth and living conditions, especially in metro cities, governments introduced FSI norms to set limits on construction. This limit also plays a crucial role in controlling the burgeoning of buildings. While determining FSI, along with carrying capacity of land other related aspects such as adequacy of water supply, solid waste disposal, sewerage system, and road capacity are taken into consideration and that’s the reason why it varies for each state as well as each region within a state. FSI varies even with the type of building.
Advantages of FSI or FAR
– FSI or FAR helps maintains the ratio of open space to built space
– FSI or FAR help maintain the city skyline
– An average FSI or FAR value ensures a good development of the project
– With the help of FSI or FAR we can maintain an equilibrium between sustained, planned growth and development is important
Disadvantages FSI or FAR
FSI is often considered as a poor predictor of physical form. Less FSI values impact the employment and accommodation options for the population. Thus, with average FSI, it is required to be turned into an asset and design the end product that caters and solves all the problems.
Choosing between building homes for the aspiring and preventing cities from turning into concrete jungles is always a tough call.