Using 3d Bim Model for the Value-Based Land Share Calculations

Abstract

ABSTRACT:According to the Turkish condominium ownership system, 3D physical buildings and its condominium units are registered to the condominium ownership books via 2D survey plans. Currently, 2D representations of the 3D physical objects, causes inaccurate and deficient implementations for the determination of the land shares. Condominium ownership and easement right are established with a clear indication of land shares (condominium ownership law, article no. 3). So, the land share of each condominium unit have to be determined including the value differences among the condominium units. However the main problem is that, land share has often been determined with area based over the project before construction of the building. The objective of this study is proposing a new approach in terms of value-based land share calculations of the condominium units that subject to condominium ownership. So, the current approaches and its failure that have taken into account in determining the land shares are examined. And factors that affect the values of the condominium units are determined according to the legal decisions. This study shows that 3D BIM models can provide important approaches for the valuation problems in the determination of the land shares.

BIM and real estate valuation: challenges, potentials and lessons for future directions

“…Later, a positive correlation between the energy class of real estate assets and their prices was found using the HPM method (Pavan and Mirarchi, 2016). Çelik Şimşek and Uzun (2017) also attempted to detect possible aptitude of BIM for the value-based land share calculations of the condominium units. Accordingly, they proposed some potentially useful 3D parameters including daylight, solar gain and orientation.…”