In all cases where a lot in one ownership is divided by a district boundary and more than 50% of the area of such lot lies in the less restricted district, the regulations prescribed by this chapter for the less restricted district shall apply to such portion of the more restricted boundary. For purposes of this section, the more restricted district shall be deemed that district which is subject to regulations which either prohibit the particular uses permitted in the district covering the remaining portion of said lot or which regulations require higher standards with respect to setback, coverage, yards, screening, landscaping and similar requirements, as determined by the Building Inspector/Village Engineer.