Redeveloping old buildings in Delhi could get easier: What the new Master Plan offers

The recent building collapse in Delhi’s Satya Niketan PG has once again raised the uncomfortable question Delhi has been grappling with: what happens when old structures become unsafe?Continuing to live in an ageing building can be a matter of life and death, but tearing them down and rebuilding them can be an expensive proposition, one not everyone can afford.That is about to change under Delhi’s proposed new Master Plan, which is betting on higher Floor Area Ratio (FAR) to make redevelopment a more viable proposition for property owners.The higher FAR could give owners of aging buildings additional development potential, providing them with a financial reason to tear down old structures and rebuild them while helping offset the cost of demolition.D Thara, secretary, department of capital development, ministry of housing and urban affairs, said the provision assumes significance as Delhi grapples with old buildings, particularly after the recent collapse of a…