The official website of the Hangzhou Planning and Natural Resources Bureau has published a notice regarding the optimization of construction project floor area ratio and related Indicators calculation rules. This notice will come into effect on December 13, 2024. After implementation, the sold projects, projects that have obtained assignment decision documents, and newly approved renovation and expansion projects will be carried out according to the requirements of this notice. Any previous policy that is inconsistent with this notice shall be subject to this notice. This means that starting tomorrow, all newly sold residential land in Hangzhou can enjoy the new regulations on area recognition, such as enclosed balconies only counting as half the area, and open wind and rain corridors not being counted. The biggest surprise is the first item of the new regulation, which encourages diverse parking forms, with parking spaces used to meet the minimum parking allocation standards not being counted, such as independent parking buildings, parking spaces under the ground level platform, and multi-level parking spaces inside buildings. Considering cost, some developers will soon cancel underground parking spaces and switch to ground-level parking buildings, which will bring significant changes to the design of traditional residential communities in Hangzhou. As a result, the usable area ratio of new houses in Hangzhou will increase, allowing developers more space to create quality community facilities and significantly enhance the salable value.