When it comes to construction and real estate development, the term FSI is a very important one. The definition of FSI (also referred to as FAR) is supposed to be the ratio between the total area of the plot and the total area of the building.

Property tax or house tax is the amount that the property owners have to pay either to the area's municipal corporation or local government. The owners of all the tangible real estate properties (residential or commercial) like offices, houses, buildings, etc.