Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything contained in this Act, the promoter shall be entitled to develop and continue to develop the land belonging to the Promoter in the colony remaining after the execution of one or more phases of the real estate project with the right to use the internal access roads and all the facilities, amenities and services in the colony and to construct additional structures thereon by using the balance floor area ratio and balance transfer of development right and balance additional floor area ratio relating to the said colony Consequent to any future increase in floor area ratio occurred due to change in the law or the policies of the Government or the Local Self Government Institutions: Provided that if the floor area ratio of the plot in a colony is increased as stated above, subsequent to conveyance of any one or more structures to allottees, then increase in floor area ratio which is proportionate to the floor area ratio utilised by the conveyed structure or structures to total floor area ratio of the colony, shall belong to the association of allottees and it shall not be necessary for the promoter to obtain any consent or permission from the association for the purpose of utilising the balance floor area ratio.