Punjab favors higher FAR for factories

Chandigarh : In its attempt to turn the state more investors' friendly, the Punjab government has decided to push the floor area ratio (FAR) for industrial plots from the current 1:1 to 1:2 and also allowing industrialists to use 10 percent area of industrial plot for commercial purposes, State Industry Minister, Tikshan Sud said, adding that the government has already constituted a committee of experts to technically examine the technicalities of the issue and submit its report as quickly as possible. He said adding that the government is allowing 10 percent space of the plot for building extra showrooms, factory outlets to display their product to encourage their business activities. The government is also doing away with the prevailing practice of securing permission or undertakings from the government agencies regarding zoning alterations at the time of registration of conveyance deeds and during the conversion of lease hold plots to free holds for residential and commercial plots developed by the Punjab Small Industries and Export Corporation (PSIEC) so that the plot buyers be spared of hardship they normally undergo while getting these clearances. Besides, the government has also decided to allow extra entry gate to each extra unit added to the existing plant on the same industrial premises.