KOLKATA: The Bidhannagar Municipal Corporation's proposal to allow Salt Lake homes to add an extra floor, and allow elevators in all G+2 structures, will have a direct bearing on the township's estimated 26,000 homes. Till now, the floor area ratio (FAR) allows only two-storey buildings on plots under 4 cottah and a maximum of G+3 structures on plots above 4 cottah. The only leeway is to construct an additional room and an extra toilet.
The move, if approved, is expected to bring some windfall gains. Per square feet land in Salt Lake, on an average, is about Rs 5,000 to Rs 6,000. The prices sway from Rs 50 lakh-Rs 60 lakh per cottah inside blocks to Rs 1 crore-Rs 1.2 crore per cottah in prime locations. According to rough estimates, it will now take residents Rs 1,000 per square feet to add a floor if they have the foundation, but price will shoot up to Rs 1,500-Rs 1,600 per square feet if they have to bolster the foundation. Engineers estimate it will take Rs 10 lakh-Rs 12 lakh to build a floor.
