Govt should relax FSI norms in key metro cities: Mandeep Lamba

Hospitality industry in India has stringent policies which is detrimental to the sector. Mandeep Lamba, President(South Asia), HVS Anarock, further elaborating on his recent report, states that given limited supply of suitable land parcels for hospitality projects and prohibitive costs of the same, the government must relax FSI norms in key metros to upto 5 times the size of land so as to allow a larger built up space in the designated land parcel. in countries like the US, prime business areas such as Manhattan in New York, could have up to 15 FSI allowing for adequate offset for the cost of land through larger revenue generating built up areas.