21,938 SQM Plot for sale in Geri, Nicosia

Plot with title deed, area 21,938 sqrm, in the area of Geri within Nicosia district. It is within close proximity to: Geri Ministry and Geri Ministry. The land characteristics are: within planning zone Ka 9, has a build coefficient of 40.000% with covered coefficient of 25.00%, maximum building permissible height 10.00 meters, and maximum number of floors 2. Τhe land area is 21,938 square meters. After getting relevant permits from the local authorities, you can build a building of total area 8,775 sqrm. The value of this investment comes to € 251 per square meter of covered area. Zone: Mainly residential area 5 minutes from: primary school, university, supermarket, childrens play area, Church. View: town. The type of road leading to the property is tarmac secondary road. The property has no VAT tax. This Plot has title deed ready. Based on the information provided, the subject property is located in two different Planning Zones, each with specific regulations that impact the potential for development Planning Zone Κα9 Residential Use – 97% of the property Maximum Building Density Coefficient 40% – This means that up to 40% of the total land area can be built upon. Coverage Ratio 25% – This limits the footprint of the building to 25% of the plot size. Height 10.00 meters, with a maximum of 2 floors. In the Κα9 zone, the property has significant potential for residential development, allowing for moderate building density and height. The relatively high building density 40% and 2-floor allowance suggest that the property could accommodate multiple residential units, making it suitable for residential development or even the creation of building plots. Planning Zone Δα3 Protection Zone – 3% of the property Maximum Building Density Coefficient 5% – This is a very low density, meaning only a small portion of the land can be developed. Coverage Ratio 5% – Similarly, only 5% of the plot s surface can be covered by buildings. Height 5.50 meters, with a maximum of 1 floor. The Δα3 zone has strict restrictions on development, as it is a protection zone. The low building density and height restrictions make it challenging to develop this part of the property. However, these regulations are typical for areas with environmental or heritage protections, aiming to preserve the area’s natural or historical value. Prospects for Development The property is located in an area with new houses, which indicates ongoing urban development. The potential for subdividing the property into building plots is a significant advantage. In the Κα9 zone, there is a reasonable opportunity to develop residential units or split the land into smaller plots for individual construction projects. The proximity to new houses suggests that the area is likely to continue evolving and may see increasing demand for residential properties. However, the small portion of the property in the Δα3 zone may limit the development potential of that area, as the restrictive building regulations will need to be taken into account. In conclusion, the subject property offers promising development prospects, especially in the larger Κα9 zone, with the possibility of creating new residential plots or building projects. The area’s ongoing development trend enhances its potential value for future residential use.