The new city plan aims to make better utilization of available space for each classification of zoning area in order to support the development of “compact” city. The plan is scheduled to become effective by early December 2020.
The biggest changes we will see in the proportion of each type of land use when compared to the previous plan issued in 2013 are as follow:
- Reduction of less populated residential area (from 15% to 5%)
- Increasing of medium – high populated residential area (from 15% to 22%)
- Slight increase in area for commercial purposes
Let’s have a look at some of the outcomes we can expect to see.
- Better traffic congestion in the city – There is a measure to reduce the number of parking spaces according to the regulations of Bangkok. the new building control regulation will enforce buildings located within 500 – 800 meters of the train stations to reduce parking spaces by 25%, encouraging the use of public transportation instead.
- Creation of public space – Extra floor area ratio (FAR) is given to buildings that are willing to develop open spaces such as public parks to support the city’s community.
- Expansion of real estate projects – Large residential and commercial projects under specific categories will be allowed to build more buildings, as the floor area ratio can be increased depending on the land’s size of the project.
a.High-density commercial and residential projects with land size over 20 rai
b.Medium-density residential projects with land size over 50 rai
c.Low-density residential projects with land size over 100 rai
* Consistent with the adjustment of the proportion of land use for each type
As you can see, this plan will directly affect both state and private agencies involved in housing as well as real estate development companies.
Therefore, Prospec Appraisal provides a wide range of services to meet this new regulation for real estate development companies and agencies in need of assistance such as project feasibility study, site selection and etc. Please visit our website for more details https://www.prospec.co.th/en/article/categories.php?id=5&name=Valuation%20Additional
Credit – source: www.tooktee.com , link: https://bit.ly/3gR1QyL