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ISSN 2063-5346
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ECONOMICS OF REAL ESTATE VALUATION – COST BENEFITS OF BASEMENT SHIFTING

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Mr. M. Ulaganathan, Dr. S. N. Sugumar
» doi: 10.48047/ecb/2023.12.7.272

Abstract

The real estate sector is an expanding business continuously because it provides one of the basic amenities for human being survival- shelter – Residential/Commercial. Globally real estate fetches more revenue and the business hub makes countries flourish in economic status. Infrastructure development is extending day by day everywhere on the planet earth. The new technologies and implementations causing side effects on earth’s ecological system and an imbalance in the weather-meteorological conditions. Recently, China has adopted cloud seeding to obtain rainfall in regions of low rainfall. Global warming due to the emission of abundant Carbon dioxide and carbon monoxide imbalances temperature variations and rains in certain regions of the world. As a consequence, heavy rainfall fills Valleys and dams and inundation by surplus floodwater in some regions followed by drought in other regions. The Government and Private sectors taking up developmental activities for the public cause by all means by creating new avenues, projects, dam structures, irrigation canals, industrial zones, etc. The so-called industrial zone may take a new form of upgrading the entire surrounding by filling the existing ground surface or water retaining structures to cater to their needs. Such improvements will become a headache to adjacent surroundings in various forms. The nearby low-lying areas or valleys get inundation either by rainwater or water squeezing from nearby irrigation dams. Similarly, the execution of Industrial constructions carried at an elevated level leaves the nearby area as a downtrodden. The infrastructures already built in these areas getting submerged and intend to raise the basement level to safeguard from dampness. Alternatively, the structures can also be demolished and reconstructed. But due to its status, being new construction, that option of reconstruction becomes a burden and uneconomical. In such occasions, the existing basement level can be shifted vertically to the desired height. Now discussions about the methodology existing on an economic basis have been analysed.

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