Feasibility Study On Regulatory Plan Implementation

Urban regulatory plan build a bridge bewteen urban planning and urban construction.The Urban and Rural Planning Law published in 2008 has established its legal status:urban development must obey the control and guide of regulatory plans.According to relative theories and practice, economic benefit, which is an important driving force to urban construction and development, can not get implemented by ignoring economic benefit. The regulatory plan will be feasible with good economic benefit.Basing on specific planning scheme, this research has studied on the interactive relationship between regulatory plan, urban land and real estate development. According to the real estate price formation principle, the objectives of this thesis are: 1 proposing a theory framework and approach to feasibility study on regulatory plan implementation from the view of public government, real estate developers and consumers; 2)building an indicator system of economic benefit evaluation of regulatory plan implementation. Eventually, the study has proved their scientificity and applicability through an empirical analysis of ShangHai TaoPu Smart City.The conclusions of the reaserch are as follows:(1) Regulatory plan has stimulative, induced and integrated effects on urban land and real estate development, which are the elements that the implementation of regulatory plan must rely on.(2)The indicators of economic benefit evaluation include real estate price (or property value of whole saleable real estate), land price, land use intensity(the maximum allowed floor area ratio), land price to house sale price ratio, public facilities service satisfaction (or the perfect degree of the infrastructure) and the nonnegativity of land use external economy. The value of real estate is economic benefit source of real estate developers and the cost of consumers using land; the land price is the main economic benefit of public government and the cost of real estate developers; the ratio of land price to house sale price stands for the profit of real estate developers. Those three indicators above are kernels of indicator system. Others are prerequisites to guarantee the regulatory plans scientific and rational.(3)The feasibility of regulatory plans implementation is based on the economic feasibility of real estate projects. The value of real estate determines the economic benefit of real estate projects. Due to the supply and demand in market, real estate price will not exceed effective pay ability of land users. Public government can only accept a normal land price. Under the circumstances of fixed real property value, real estate developers have a good command of their construction cost. Therefore the decision of real estate investment depends on land price. When real estate developers consider real estate price acceptable, the price of real estate and land can be adopted by land users and public government as well.(4) By studying the regulatory plan of ShangHai TaoPu Smart City, we found it applicable to use the approach of feasibility reaserch.