Friday 13 June 2014

Setback Space Definition and Margins Formulated By BDA

Setback space is one of the parameters involved in the property of which most of the people are not aware.

Setback Definition:

Setback or Setback space is the open space between the building or a house that is constructed and the border of the plot. Several kinds of authorities have demarcated minimum values of setback that needs to be required.

The setback space limit is set by the Bangalore Development Authority (BDA) depending on the height of the building, which is in question. For instance, buildings that have a height up to 11.5 meter have different setback limits while those houses that have a height greater than 11.5m.

The below mentioned table shows the setback space limit for buildings shorter than 11.5 m. and plot size lesser than 4000 sq. m:


Width of the site(Right)
Width of the site (Left Side)
Depth of the site (right side)
Depth of the site (left side)
Up to 6.0 meter
1.0 meter
0 meter
1.0 meter
0 meter
Between 6.0 and 9.0 meter
1 meter on all sides
1 meter on all sides
1 meter on all sides
1 meter on all sides
Above 9.0 meter
8%
8%
12%
8%

For plots that are larger than 4000 sq. m. a minimum setback of 5.0m on all sides need to be maintained.
The below table shows the setback space for buildings with a height of more than 11.5 meter:
Height of the building(m)
Front, rear, and side setbacks (min. in m)
11.5 m - 15 m
5
15 m - 18 m
6
18 - 21 m
7
21 - 24 m
8
24 - 27 m
9
27 - 30 m
10
30 - 35 m
11
35 - 40 m
12
40 - 45 m
13
45 - 50 m
14
Greater than 50.0 m
16

For uneven plots, regular setback spaces not taken into account. In its place, depths and widths should be measured in those areas where the plot is uneven and setbacks should be considered for those sections.

Nonetheless, it is important that this setback area is located within the plot and does not comprise any open space outside the plot area. If public open spaces are considered as a part of the setback then it is illegal and could lead to complications.

For an instance, in a plot located at one corner then the two sides facing the road will be taken as front side and the related setbacks would be allotted to these sides.

In those plots that have two roads on both front and the back end then both the road facing sides shall be treated as front and the other two sides will be regarded as right sides.

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Friday 6 June 2014

Mumbai and Bangalore Real Estate Preferred by UAE NRI’s

Mumbai the city of dreams has attracted the attention of many and captured the hearts of several NRI’s in UAE to invest in the real estate sector of Mumbai. The Bollywood city has emerged to be one of the top cities in terms of real estate and property investment.

Mumbai has maintained the trend of being at the top preference of the NRI’s. The percentage of NRI’s preferring to invest in the real estate of Mumbai is near about 31.86 percent the data has been sourced out from the organizers of the Indian Property Show in Dubai.

Bangalore the IT Hub ranks second in the list with the estimated investments raging up to 24.53 percent. This figure deals with the investments made only in the residential property buying in the passing months. The third position is backed by Pune and Chennai together with almost same percentage of people planning to invest in the residential property in and around these places.

The Nation’s capital holds the fourth position. Flowing the list are cities like Navi Mumbai, Gurgaon, Cochin and Hyderabad.

Bangalore’s real estate and property market bounced back into the trend to compete with other metro cities with various new projects launched as per the demand followed and also such undertakings came up at a very reasonable price. As per the speculation done by the experts it is believed that the residential segment of the real estate will definitely prove to be a good bet in the year of 2014.

Bangalore which is known as the IT Hub is also the third-largest real estate investment Hub and the credibility goes to the High Net worth Individuals who cater to the maximum amount of investments in the real estate sector. Also the Non Resident Indians who are planning to settle down in India account to the high level of investment made under the residential sector in the real estate industry.

Bangalore’s luxury sector is also one of the booming sectors in the real estate industry in comparison to Mumbai and Delhi. The total population HNI’s amount up to 10,000 which in totality is the third highest in the country. The survey reports also revealed that around 31 percent of the HNI’s are willing to invest 76 lacks and above whereas nearly 53 percent of them can at least afford an investment of about 30 to 75 lacks.

The survey also builds a clear picture of the residential apartments to be the all-time favorite making 77 percent of potential investment, and people interested in buying one for them. This data shows the preference for residential housing over villas and commercial property. It is also speculated that around 72 percent of the buyers are targeted to make instant purchases in the next 6 months. Thus, the NRI’s from UAE are really keen on investing in the residential real estate of India in metro cities like Mumbai and Bangalore respectively.

Tuesday 3 June 2014

Government Aims At Housing for All By 2022

The Union Minister for Urban Development, Housing and Property Assuagement Venkaikah Naidu discussed that the private sector as a part of the social responsibility should provide housing for their staff strength.

Mr. Naidu also expressed his thoughts about the current challenges in terms of jobs in government sector as the openings are limited. He also marked that no government can be sufficient enough in providing the jobs through government sector and hence, it’s more important to get tied up to the private and public sectors. These sectors may comprise of banks, LIC etc.

As the newly formed government aims at providing houses by the fall of 2022, that is the reason why the government is motivating the private sector to secure housing for their staff making it an apart of their social responsibility. 

As it’s a challenging task it requires the support of the private sectors and the corporate sectors to enter into a partnership and making the task achievable rather than gimmick.

The massive aspiring program named housing for all plans to involve the private and public sector bodies, state and local bodies. It was also conveyed that the newly elected Prime Minister Mr. Narendra Modi declared that the problem related to urban shelter must be given priority.

The trends of migration towards the town have seen a massive change, which was 17 percent in 1951 and has increased to about 32 percent. The trend is speculated to mark an increase of about 50 percent by 2050.

The housing is indeed one of the huge significance areas. Various other areas seeking priority are sanitation, transportation, livelihood and drinking water etc. The concept of smart twin cities and clean cities comprises of the mission and the priority for the government in the time to come.

The Urban Development minister praised Gujarat for its headstrong approach in terms of urban development. When compared with different states it was concluded that each state has a potential to develop and excels in better performance an experience even though the best experiences can be imitated.

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