PLOT RATIO #
It is hereby agreed where building(s) is/are lost, destroyed or damaged by any peril insured against and reinstatement (as defined in the reinstatement/replacement clause and extra cost of reinstatement clause incorporated herein) of such loss, destruction or damage is limited or restricted by :
- any act of parliament on regulation made thereunder, or
- any by law or regulation of any municipal or other statutory authority, resulting in the reduction of the floor space ratio index of the site(s)
The insurers shall pay on completion of the said limited reinstatement the difference between:
- the actual costs incurred in reinstatement, and
- the estimated cost of reinstatement at the time of loss, damage or destruction had the said index not applied,
provided that the liability of insurers in respect of the said building(s) shall not exceed the limit herein subject otherwise to the reinstatement and replacement clause and extra cost of reinstatement clause.
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