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I'm happy to share my knowledge and experiences.There are numerous technical terms one should know when it comes to property and land. I will share with you OSR full form and its meaning. Keep reading to know more.
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It is a portion of land that is reserved by the government for public use like building parks, playgrounds, community centres, or any other public amenities. Under Indian property laws, it is mandatory for all real estate developers to leave a certain percentage of the total land area for OSR purposes. In residential societies, OSR includes parking lots and recreation areas.
What does OSR stand for?
The fullform of the acronym is "Open Space Reservation". The percentage of land that must be reserved for OSR varies by state and city. For example, in Delhi, it is 15% of the total land area, while in Mumbai, it is 15-20%.
Continuing with what is OSR land.OSR is calculated by dividing the total amount of open space by the total area of the entire land parcel. If a private lot or any commonly-owned open space has less than 320 contiguous sq ft, it will not be counted as open spaces.
To give you an example, if there are 4 acres of common open space and 8 acres of land parcel proposed for development, then the open space ratio is 50%. I hope my answer has cleared your doubts on OSR full form.
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Governments are letting builders build houses, apartments, industries, shops, or more buildings on any land. I have often observed that some areas like parks, playgrounds, forests, waterfalls lack basic amenities. Now to have some quality time or calm one’s mind, it becomes impossible for the people to travel a large distance. They remain in their respective houses which hampers their mental growth. After all, human beings aren’t machines. They need to relax quite often and get some fresh air. For this purpose, OSR land is being kept. OSR meaning is very simple, it refers to land on which development is indefinitely kept aside.
What is the full form of OSR?
The full form of OSR is Open Space Ratio.
What is osr calculation?
The OSR calculation is very simple. It can be estimated by dividing the total open space by the area of the total land parcel. However, it is to be remembered that any area which is less than 320 sq ft cannot be considered an open space.
What is OSR Gift Deed?
If an individual has a plot whose area exceeds 10,000 sq m, then the developer is expected to give 10% of the area as OSR excluding the area of public roads and the same shall be given to the authority or local body without any charge through a gift deed.
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Authors Of The Question
What Is OSR?
Rajat
7363 Views
2 Answers
2 Year
2022-05-10T09:52:06+00:00 2022-05-18T17:45:49+00:00Comment
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