The world of real estate – it’s time to open a dictionary!

10 Real Estate Concepts You’ll Be Happy to Know

1. TAMA 70 – one of the most relevant plans today and in the coming decade. TAMA 70 is essentially a national master plan (TAMA) that focuses on the Dan Bloc, in the context of the development of the urban space, in accordance with the totality of the impacts and needs that the metro system arouses. Among other things, the plan concerns the pragmatic planning of leisure, commercial and employment complexes that are to be built (or are already active) along the existing light rail lines, and alongside the three subway lines that are in the planning stages and are to reach the finish line in about a decade.
2. TABA – acronym for City Building Plan. This refers to a legal and approved document that defines two important pillars:
   * Land designation.
   * Comprehensive planning – economic, physical and social planning.
   The approval is given by a municipal/governmental body, and it concerns a specific area (city, building, street, etc.). Here we emphasize that if you are going to make real estate investments that affect land, the TABA is a very significant pillar of the picture. It can change an existing plan, and even the developer himself may be the party that seeks to include changes in the plan. Conclusion? Before entering into an investment, it is essential to examine the existing status of the TABA, and at the same time what the chances are that the existing status will change.

3. Parcelation – assuming that land belongs to several owners who request/are required to create a division, parcelation is a fundamental step. Parcelation takes a plot of land and redistributes it. Also, once the outline plan is approved, a process known as “reparcelling” is carried out, meaning the area is consolidated and redistributed, so that each owner of rights to the land receives a share, after public areas have been set aside and while maintaining relative value.
4. Mosha – When several partners jointly own land, the share of the distribution is affected by the relative size of the land, although the relative rights do not define which part belongs to each. Also, in order to avoid a lack of agreement that harms the value of the land, it is customary to dissolve the partnership.
5. VTMAL – VTMAL is the acronym for the Committee for Planning Preferred Housing Areas, with the committee’s goal being to solve the housing shortage, and therefore it is a planning institution that is required to approve significant residential plans quickly. As of 2012, the committee is authorized to give the green light to “Evacuation and Construction” plans involving a minimum of 500 housing units, with quite a bit of the committee’s activity directed at multi-owner land and land belonging to sectors that suffer from specific hardship (in terms of land regulation).
6. A claim pursuant to Section 197 – a section that comes to assist people who own property that has experienced a decline in value following the approval of another such plan. For example, if a decision has been made to freeze a real estate project after you have already invested in it, or if a decision has been made to reduce building rights for a property that belongs to you, then Section 197 may prove to be very relevant and economical.
7. A deposited plan – these are plans that have gone through the planning stages and now the public is invited to examine them, with the aim of considering submitting an objection (if the plan harms certain interests or others). Assuming an objection has been submitted, an investigator will review the matter and forward the conclusions to a designated committee.
8. And offshore – this is the Coastal Environment Preservation Committee. This operates in conjunction with the Coastal Environment Preservation Law (2004), with the aim of maintaining a delicate balance between environmental protection and planning and construction considerations. Why is this
   important? When examining recommended real estate investments, it is essential to examine whether a committee and overseas will not raise difficulties that will delay construction progress, or harm economic feasibility.
9. Easements in granting building permits – Whenever real estate investments are examined, it is essential to examine whether building easements will enter the equation. The easements may bridge existing gaps between current plans and old plans that are no longer relevant. For example, we note that thanks to the easement, it is possible to increase construction percentages, exceed building lines, and more.
10. Land with multiple owners – It is customary to think that all land in the country is owned by the state, but there are areas, mainly in the center of the country (for example, in the northwest of Tel Aviv) that are held by several private individuals. Hence, if one wishes to promote a real estate plan in the same area, it is necessary to unite the many landowners, meaning that this is a relatively complex procedure.