Zoning laws and regulations play a crucial role in real estate development by determining and directing the developers the permissible construction activities in the specific regions. As per Kanat Sultanbekov, potential property owners and investors must be well-versed in zoning laws for upholding order as well as minimizing the chances of conflicts that may arise from violation of the law due to using the land for diverse purposes. In addition, pursuing these laws can be instrumental in ensuring the security, compliance, and well-being of the communities. In this blog, Sultanbekov aims to delve into the different areas of zoning laws, their importance, and how they are likely to impact property development.
What are Zoning Laws?
Zoning laws, aka zoning regulations or ordinances, are guidelines set by the local governments to administer proper usage of land in designated locations. The main purpose of zoning laws is to uphold an organized and harmonious development of land while fostering the safety, health, and overall welfare of a community.
The Impact of Zoning Lon Property Development
Land Use Types
Typically zoning laws categorize regions into several zones or districts and each of them is designated for specific usage of the land. The common categories include residential, commercial, industrial, as well as agricultural lands. While considering certain properties for investing, it is important for the property investment firm or potential property owner to clearly understand its category. Having knowledge about the type of property development permitted in the specific area and ascertaining their suitability with the investment strategy is vital for avoiding unwanted conflict or being penalized.
Building Code
Zoning laws also govern the building code and its density and need to adhere to the guidelines as set for the specific zones. These codes generally comprise building heights, size of the lots, dimensions, parking provisions, spaces from property lines, etc. Developers should conform to these codes and standards while designing and erecting the buildings since they influence the functionality and appearance of a community area.
Property Values
Noteworthy, zonal laws can have a significant influence on property valuation. For example, zoning law often imposes restrictions on the building heights in specific zones which is likely to hinder property developers from building high-rise constructions there. As a result, this could limit and reduce the worth of available space for new project development and thereby upsurge the demand of demand for existing structures. Consequently, the value of existing properties may experience an upward rise.
Local Economy
Zoning laws can significantly influence the local economy. For example, the areas where zoning law prohibits commercial complexes are likely to impede the growth of jobs as well as economic development. On the contrary, zoning laws of areas that inspire commercial development experience growth of jobs and thereby enrich the local economy.
When planning to invest in properties, in the opinion of Kanat Sultanbekov, investors need to make sure about the zoning laws as they can directly impact what they can do or cannot as per the building code to ensure whether their proposition is in tune with the guidelines to avoid disputes and reach their investment goals.