FLOOR AREA RATIO BONUS FOR CONDOMINIUM DEVELOPMENT PROJECT IN BANGKOK

Abstract

The objective of this research was to examine the conditions for obtaining a Floor Area Ratio (FAR) bonus, as stipulated in the Ministerial Regulation on the Bangkok Comprehensive Plan B.E. 2556 (2013), which is currently in effect, and as proposed in the draft version B.E. 2566 (2023) to be enforced in the future. The findings reveal that, for condominium development, the most advantageous condition remains the provision of on-site water retention areas. This is especially true when compared with the additional conditions in the draft 2023 plan, such as creating public waterfront spaces, establishing intermodal transit transfer areas, improving pedestrian walkways, connecting two public roads through the project site, and providing daytime care facilities for children or the elderly. These are financial benefits to developers when land acquisition costs are exceptionally low, which does not align with the current land market prices. In the other hand, incorporating water retention areas within the project can be implemented without compromising the project’s privacy. Moreover, such facilities are typically constructed underground, thereby not affecting the project’s usable space or requiring trade-offs with other land-use benefits.