DDA to offer service apartments on plots of minimum 2,000 sq metreWith an aim to address housing requirements in the capital,the Delhi Development Authority (DDA) has decided to offer service apartments which will be introduced on a minimum plot size of 2,000 sq mt,officials said. At a meeting held on Thursday,DDA has decided to enhance the floor area ratio (FAR) of buildings from the adjusting 150 to 225 which will result in setting up of more apartments. These service apartments are being allowed in public,semi-public,residential and commercial land use. Minimum size of the service apartments has been fixed 40 sq mt and it will be allowed on roads having width of 12 meters. DDA has also approved enhancement of FAR for permanent sample plots from existing 150 to 225 for educational facilities such as vocational training centre,management institute,teacher training centre,research and development institute or professional college. For large university campus,the FAR has been enhanced from 122 to 225. The proposal will be sent to the Union urban developmemt ministry for final approval.Mumbai property rates may remain subdued in near future: IcraDevelopers in Mumbai are finding it difficult to increase property prices because of rising inventory levels,subdued demand and uncertain macroeconomic environment,says credit rating agency Icra. “Declining affordability and high economic uncertainty are the twin reasons,which would cause property prices inMumbai to remain subdued,in the near and medium term,” it said in a research report. The capital rates in the city have remained largely firm in the past,supported by limited supply as well as increasing cost pressures,Icra noted. “However,peripheral areas of Thane,Navi Mumbai,would continue to report healthy development as well as traction in the affordable housing segment,given the lower ticket sizes,” it said.