In the case of a lot on which there stands, on the effective date of this chapter, a dwelling or other principal building which conforms to the Building Zone Code in effect immediately prior to that date, which lot shall not at any time on or after the effective date hereof have been reduced in area or in any dimension, the fact that the area of such lot is less than that prescribed in Article IV of this chapter or that the width of the front lot line of said lot is less than that prescribed in Article IV of this chapter shall not prevent the erection, enlargement, alteration or maintenance on such lot of a building or buildings which, as so erected, enlarged or altered, do not increase any existing nonconformity with respect to setback or height and which comply with all the other provisions of this chapter.