Introduction:
1. With the increasing demand for housing and commercial spaces, the cost of real estate has also been on the rise.
2. To reduce the financial burden on buyers, developers have come up with the concept of sharing the built-up area.
3. This article aims to explore the concept of sharing the built-up area, its benefits, and drawbacks.
Benefits of sharing the built-up area:
4. Sharing the built-up area reduces the cost of real estate, making it more affordable for buyers.
5. Developers can construct more buildings in the same plot, thereby increasing the supply of housing and commercial spaces.
6. The shared space can be utilized for common amenities like parks, playgrounds, and community halls, which benefit all residents.
7. Sharing the built-up area reduces the environmental impact by minimizing the need for land acquisition and preserving green spaces.
Drawbacks of sharing the built-up area:
8. Sharing the built-up area can result in a lack of privacy and personal space for residents.
9. The quality of construction may be compromised due to the need for a higher density of buildings.
10. Shared spaces may be misused or not maintained properly, leading to conflicts among residents.
11. In some cases, the sharing of built-up area may not be feasible due to regulatory restrictions or other factors.
Conclusion:
12. Sharing the built-up area is a concept that has both benefits and drawbacks.
13. While it can reduce the cost of real estate and increase the supply of housing and commercial spaces, it may also compromise the quality of construction and lead to conflicts among residents.
14. Developers and policymakers must carefully consider the feasibility and implications of sharing the built-up area before implementing it in any project.