While often used in combination to determine other areas or ratios such as floor area ratio far for example the two have distinct differences and are defined differently by code.
Floor area and lot area.
Floor area ratio is the percentage of building floor space to lot area.
Lot coverage is the percentage of a land plot covered by one or more structures.
In real estate lot area is the size of a plot of land usually rendered in square feet or meters.
Floor area and lot area are two terms commonly used in zoning analysis.
Far is expressed as a decimal number and is derived by dividing the total area of the building by the total.
Lot area means the total horizontal area within the lot line of a lot and in the case of a corner lot having street lines rounding at the corner with a radius of 6 m 19 7 ft or less the lot area of such lot is to be calculated as if the lot lines were projected to their point of intersection.
This is contrasted with floor area which is the size of the footprints of any buildings on the lot.