building permit

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Building Permit

Permission by a local government to build a new construction or renovate an existing one. A building permit helps ensure that the construction will be safe and that it will comply with inspections (and therefore with the building code). It also helps raise revenue for the municipality, since building permits usually require a fee.
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building permit

Written permission from local government to proceed with construction, substantial repair,demolition,or sign erection on real property.The permit process serves several purposes:

• Revenue generation through permitting fees
• Early identification of potential problems, such as the need for historical district approvals
• Entry of the project into a tracking system to ensure code compliance through periodic inspections
• Estimation of the anticipated cost of the project, in order to assist local government with analysis of building and development trends
• Initiation of steps that will ultimately ensure all subcontractors have business licenses and correctly report their income for the year

(Developers typically include contingencies in their purchase contracts to allow for difficulties in obtaining building permits. Especially with large projects, which require extensive plan review before issuance of a permit,the permitting process can take many months.)

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
About 70 of the building permits issued last year were valued at $500,000 or more.
Kathy Deck, director of the Center for Business & Economic Research at the University of Arkansas, oversees the quarterly Skyline Reports and said the dip in commercial building permits, coupled with the increase in vacancy rates, was "not surprising" given the number of projects under way in northwest Arkansas.
These building permits issued in January provide for the construction of 548 dwelling units, up from 504 in December 2018.
The post Building permits up 27% in Q1, Cystat says appeared first on Cyprus Mail .
In receipt of 234 building permits, the Rayyan municipality, including Sheehaniya, made up 38% of the total building permits issued in August, Qatar Tribune reports.
According to the issued building permits, the expected total value of the constructions was 3,472,932 thousand denars, which was 36.3 percent more than the same month of the previous year.
"The (total) values of construction are three times over where we were last year," says Mazza, with $32 million in building permits issued through the first three months of this year, compared to only $12.6 million through the first quarter of 2004.
A project's eligibility would be determined by the certificate of eligibility, and that date is keyed to the date of the building permit, which the DOF does not yet know.
On geographical basis, the PSA found that Al Rayyan remained atop the municipalities where the number of building permits issued were 206, or 28% of the total issued permits; Doha 150 (20%); Al Wakrah 140 (19%); Al Daayen 111 (15%); Umm Slal 63 (8%); Al Shahaniya 32 (4%); Al Khor 26 (4%); and Al Shamal 14 (2%).
Building permits authorized by local authorities last year reached 6,408 from 5,728 in 2017.
QNA Doha The number of building permits issued in December 2018 declined 0.3 percent, official data showed on Wednesday.

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