What Is the Floor Space Index (FSI) in Elan Projects

Buying a property is a complex process as it entails a lot of technicalities. You must do thorough research before booking a unit to ensure that you are making the right decision. The renowned developers in Gurgaon like Elan Group are customer-centric and they always ensure that the buyer has a fair deal with them. 

Elan Group in Gurgaon has a vision that every common home buyer must have the right information about the details of buying a property. He also must be aware of the technicalities of the measurements, government guidelines, and his rights regarding purchasing a real estate property. The buyers get comfortable with the daunting process of purchasing by becoming aware of the technical terms. Here, the blog discusses about Floor Space Index for Elan Projects.     

Overview of FSI

FSI stands for ‘Floor Space Index’ which in simple words refers to the maximum permissible floor area, on which the builder can carry out the construction process. FSI is one of the crucial terms that a home buyer must know about because it gives an idea of the open and constructed area, he will get to use. 

The Floor Space Index varies from place to place and sometimes it depends on the local area because the authorities at different places permit different Floor Space Indexes.  The index helps the buyer to get an idea about the density of the residential area because a higher ratio means a higher population density of the place.      

What Is the FSI Formula for Elan Projects

Using the formula for FSI, you can calculate the area permissible for construction.  This way, you can easily check that the builder has constructed property in the permissible area only.     

FSI = Total constructed Area on All Floors / Gross Plot Area  

If the permissible Floor Space Index is 1 and the plot size is 500 square feet then according to this formula, you can construct a house or any building on a total 500 square feet area.  

Factors Impacting Floor Space Index

The common factors impacting FSI are the type of the building, the size of the plot, the location of the plot (city zone), and the essential facilities that will be made available for the building, etc. When you say FSI depends on the location, it means different states or cities in the country have different FSI. Elan Group in Gurgaon maintains FSI according to the authorities of Gurgaon.   

It has a simple math formula to calculate but there are many complexities involved. Different regions have different rules for calculating the area to be constructed as per the permissible index. For example, in Mumbai, covered parking areas whether it is basement or stilt parking are not included in FSI. The developer has planned Elan Projects after paying attention to the fine details of the permissible ratio.  

Each city keeps revising the index as per the situation and requirements. They also change the ratio depending on the development Status of the area. If the area is developed and requires more people to live there, it can allow the ratio as per the requirement.         

Difference Between Floor Space Index and Floor Area Ratio for Elan Projects 

The Floor Space Index is also regarded as the Floor Area Ratio. Both these terms are used interchangeably by the people but, both of them have the same meaning.  These are governed by the municipal corporations or jurisdiction of urban local planning authorities.

Conclusion 

Being aware of the technical terms of real estate helps you to make better decisions and keeps you at bay from fraud. Some builders may put you at risk by selling you a property that does not meet the conditions put by the relevant authorities. Renowned developers like Elan Group always fulfill all the requirements by paying attention to every fine detail.       

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