Definition
Floor Space Index (FSI), also known as Floor Area Ratio (FAR), is a vital metric in Indian real estate. It dictates the maximum permissible built-up area on a given plot of land as set by the local municipal authorities (e.g., BMC in Mumbai). An FSI of 2.0 on a 10,000 sq.ft plot means the developer can build a maximum of 20,000 sq.ft of floor space.
Practical Example
A developer buys a 5,000 sq.ft plot in a zone with an FSI of 3. They are legally allowed to construct 15,000 sq.ft of total floor area. They can choose to build a taller, narrower tower (e.g., 10 floors of 1,500 sq.ft each) or a shorter, wider building, provided they adhere to setback and height restrictions.
Application in Superwise
For Real Estate developers using Superwise, the approved FSI dictates the project's total sellable inventory. During project setup, the planning team inputs the FSI limits, ensuring the system's subsequent unit allocation and sales revenue projections align with the legally approved municipal master plan.
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