<p>Mysuru: Representatives of Mysuru chapter of Confederation of Real Estate Developers' Associations of India (CREDAI) have sought common Floor Area Ratio (FAR) norms for Mysuru and also extension of validity for building plan sanction to five years.</p><p>They have submitted a memorandum to the Commissioner, Mysuru City Corporation, seeking consideration of two important regulatory reforms that will support planned urban growth, improve ease of doing business, and align Mysuru with prevailing development norms in other districts of Karnataka.</p>.Poster on ancient manuscripts survey launched in Mysuru.<p>“We request the adoption of a common FAR framework for Mysuru, in line with norms followed in other comparable districts of Karnataka. Mysuru presently has comparatively restrictive FAR provisions. Variations in FAR norms across districts create imbalance in development opportunities,” the memorandum reads.</p><p>CREDAI has also requested for extending building plan sanction validity from two years to five years. “At present, building plan sanctions are generally restricted to two years, which is inadequate considering current project timelines. Large projects often require longer execution periods. Delays usually arise due to: statutory approvals; financing cycles; market conditions; material and labour constraints; and ‘force majeure’ (superior force) circumstances,” the memorandum states.</p>
<p>Mysuru: Representatives of Mysuru chapter of Confederation of Real Estate Developers' Associations of India (CREDAI) have sought common Floor Area Ratio (FAR) norms for Mysuru and also extension of validity for building plan sanction to five years.</p><p>They have submitted a memorandum to the Commissioner, Mysuru City Corporation, seeking consideration of two important regulatory reforms that will support planned urban growth, improve ease of doing business, and align Mysuru with prevailing development norms in other districts of Karnataka.</p>.Poster on ancient manuscripts survey launched in Mysuru.<p>“We request the adoption of a common FAR framework for Mysuru, in line with norms followed in other comparable districts of Karnataka. Mysuru presently has comparatively restrictive FAR provisions. Variations in FAR norms across districts create imbalance in development opportunities,” the memorandum reads.</p><p>CREDAI has also requested for extending building plan sanction validity from two years to five years. “At present, building plan sanctions are generally restricted to two years, which is inadequate considering current project timelines. Large projects often require longer execution periods. Delays usually arise due to: statutory approvals; financing cycles; market conditions; material and labour constraints; and ‘force majeure’ (superior force) circumstances,” the memorandum states.</p>