AI Summary & Key Takeaways
AI InsightIn the application study performed on 41 building blocks and 215 plots on an area of 10 hectares, it was found that the unit price per sqm of the plots used as agricultural lands which was 40 TL (14 $) reached to 800 TL (285 $) by increasing 20 times when they were transformed into building plot as a result of development implementations.
📌 3 Key Takeaways
Abstract
Rapid growth of urban population also increases the supply for real estate. In this way, urban lands become a scarce resource, and real estate gains value. Therefore, formation from agricultural lands to the lands with building plot becomes inevitable. The value increase from land to plot satisfies both the society and the public with the new urban land arising. With this transformation, increasing real estate value returns to the national economy as more taxes. For this purpose, the study has been focused on generating plot-based evaluation maps of the region by using nominal evaluation method for Kaşüstü town of Trabzon city where public services developed intensely, has become an attraction center for foreign investors and therefore value grow process has changed rapidly. Thus, tax losses to arise will be minimized with the evaluation to be done with income method and tax incomes will be increased. In this regard, a decision-support model based on Geographical Information Systems (GIS) has been created. With this model, the value increase with transition from rural area to urban land can be monitored dynamically. With this study, the impact of land plan changes on real estate was evaluated in terms of society and public. In the application study performed on 41 building blocks and 215 plots on an area of 10 hectares, it was found that the unit price per sqm of the plots used as agricultural lands which was 40 TL (14 $) reached to 800 TL (285 $) by increasing 20 times when they were transformed into building plot as a result of development implementations.