Download - Urban Real Estate and Urban Planning
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Urban Real Estate and Urban Planning
BVEV 1108
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PLAN VS PROJECT
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TOWN PLANNING ADDS VALUE
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Urban Planning
Planning Force
Planning is the allocation ofresources, particularly land, insuch a manner as to derivemaximum efficiency, while payingheed to the nature of the builtenvironment and the welfare ofthe community.
In this way, planning is, therefore,the art of anticipating change,and arbitrating between the
economic, social, political andphysical forces that determinethe location, form and effect ofurban development.
Market Force In the absence of town planning, land
would be apportioned betweencompeting uses by the pricemechanism and the interaction of
demand and supply. In this free-market situation, land
would be used for the purpose thatcould extract the largest net return overa foreseeable period of time,
but experience has shown that,unfettered, the market can consumeresources in an ill conceived andshortsighted
way, creating almost insurmountableproblems for generations to come.
Result in unsustainable use of landresources
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Real Estate
The term real estate embraces a widerange of concepts, uses and concerns.
A sense of land and property recognizes thediverse physical, legal, economic and culturalcharacteristics that can exist in differentgeographical locations and within alternativepolitical systems.
Real estate includes the interests, benefitsand rights inherent in the ownership of landand buildings.
It is thus a bundle of rights whereby eachstick in the bundle represents a distinct andseparate right to use real estate, to sell it, tolease it, to enter it, or to give it away.
These rights may be held separately orcollectively.
To varying degrees they are also subject tosuch powers of government as taxation,eminent domain, escheat, buildingordinance, administrative regulation andplanning control.
All real estate markets are influenced by theperceptions, motivations and inter-actions ofthe buyers and sellers of real property,
which in turn are subject to many social,economic, government and environmentalinfluences.
Real estate markets may be studied in termsof locational, competitive and supply anddemand characteristics as they relate tooverall real estate market conditions.
The driving force behind real estate marketsis the profit motive.
Whether the aims and objectives of thoseinvolved are short-term trading turnover,secure income flow or long-term capitalgrowth, the maximization of return
invariably remains the overriding factor inproperty investment and developmentdecision-making.
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Where do Real Estate & Urban Planning Meet?Reference: Ratcliffe & Stubbs, 1996
Development Plans
What to Look For in
Development Plans?
National Physical Plan
Structure Plans
Local Plans
Development Projects
How to implement
Development Projects?
Real Estate DevelopmentPlanning
Considerations
Limitation
Procedure
OSC One Stop Center Planning Permission
Plan Submission
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National
Physical Plan 2
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Selangor &
Kuala Lumpur
Strategic Land
Use Plan 2020
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Petaling District Local Plan