The Capital Development Authority (CDA) has implemented significant changes to the building regulations for high-rise buildings in the federal capital.
The CDA board has approved an increase in the floor area ratio (FAR) for large commercial plots, facilitating the construction of additional floors in commercial buildings.
According to the revised regulations, the FAR for plots ranging from 3,000 to 5,000 square yards has been increased from 1:8 to 1:10. For plots exceeding 5,000 square yards, the FAR has been raised to 1:12. These adjustments aim to accommodate more floors in commercial buildings, potentially transforming the urban landscape.
The new regulations also outline the financial requirements for plot acquisition and building plan approvals. The CDA will approve building plans upon the payment of 25 percent of the total amount. Plot possession will be granted upon the payment of 50 percent of the amount, however, the title of the plot will be changed after full payment.
A 15 percent discount will be available for full payment made in a single installment. For overseas Pakistanis, this discount will be increased to 20 percent if the payment is made in US dollars.
These changes in FAR will apply to both new and existing buildings, including those within housing societies. Buildings constructed after 2007 will be required to obtain a sustainability certificate to add extra floors. The cost associated with constructing additional floors will be determined by the CDA Finance Wing.
This move is expected to stimulate commercial development and attract investment, while also ensuring that new constructions adhere to sustainability standards.
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