Punjab Government issues a notification for increasing the FAR incentives for GRIHA, LEED & IGBC Projects
Green Buildings are not a choice anymore, it is becoming an integral part of the AEC industry. While we are aiming to build more green buildings each year, Government is also taking initiatives in providing infrastructure and incentives to promote the green building industry.
In this regard, Department of Housing and Urban Development, Government of Punjab is now offering an incentive of additional 5%, 7.5% and 10% FAR free of charge for projects which are rated:
(a) Buildings granted Three Star or Four Star or Five Star rating respectively by Green Rating for Integrated Habitat (GRIHA) or;
(b) Buildings granted Bronze or Silver or Gold or Platinum rating respectively by Leadership in Energy and Environmental Design (LEED) or;
(c) Buildings granted Bronze or Silver or Gold or Platinum rating respectively by Indian Green Building Council (IGBC)
In addition to this, a 100 % exemption of building scrutiny fees for these projects is also offered, which comes out to be approx. Rs 5/- PSF of covered Area.
Following is an excerpt from the amendment:
Excerpt from Document: Punjab Govt Gaz., Part III-Department of Housing & Urban Development