EFFECT ON PROPERTY VALUE: Open spaces such as parks and recreation areas have a positive effect on nearby residential property values .
The economic impact parks and recreational areas have on home prices depends on how far the home is from the open space, the size of the open space and the characteristics of the surrounding neighborhood.
AESTHETIC APPRECIATION
Aesthetic appreciation relates to the beauty, or ugliness, of the open space. By their aesthetic importance, they determine the characteristic of the settlements, built-up character of the cities.
• Open spaces can be designed such that to create an space of INTEREST between a cluster of buildings
SOCIO-ECONOMIC BENEFITS OF OPEN SPACES
Open spaces in housing societies have an impact on property value, living standards as well as their status in society.
Apart from the physical, environmental benefits that open spaces have a positive effect on psychological development of people living in surrounding.
Open spaces in residential townships increase their market value; flats are sold faster and are far greater in demand than the conventional