DLF, Unitech rally on approval of hike in ground coverage, FAR in Delhi

Shares of Delhi focused real estate developers DLF and Unitech gained by 4.68% to 8.89% at 14:48 IST on BSE after the Urban Development Minister M.Venkaiah Naidu approved enhancement of Ground Coverage and Floor Area Ratio in Delhi.

Unitech surged 4.68% to Rs 19 after hitting a high of Rs 19.20 and low of Rs 17.85 so far during the day. On BSE, so far 62.52 lakh shares were traded in the counter.

DLF jumped 8.89% to Rs 154.35 after hitting a high of Rs 154.65 and low of Rs 136.55 so far during the day. On BSE, so far 29.27 lakh shares were traded in the counter

Meanwhile, the S&P BSE Sensex was up 84.66 points, or 0.3% at 28,422.71

Urban Development Minister M.Venkaiah Naidu today, 26 November 2014 approved enhancement of Ground Coverage and Floor Area Ratio (FAR) in Delhi. FAR is the ratio of a building's total floor area to the size of the piece of land upon which it is built.

According to a statement from the Ministry of Urban Development, FAR in respect of plots of 750 - 1000 sq.km size has been enhanced from the present 150% to 200% while the same has been increased from 120% to 200% for plots of 1000 sq.mt and above. While the Ground Coverage for plots of 750 - 1000 sq.mt will remain at 50%, the same has been increased from 40% to 50% for plots of 1000 sq.mt and above.

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