The RICS has published an update to its guidance in relation to viability. Dated March 2021, released in April 2021 and effective from July 2021, the new Guidance Note (“Assessing viability in planning under the National Planning Policy Framework 2019 for England”) has been published to reflect changes in the approach to carrying out viability assessments following revisions to the National Planning Policy Framework (NPPF) and Planning Practice Guidance (PPG) in 2018 and 2019 respectively. The RICS acknowledge that the NPPF and PPG are the ‘authoratitive requirement’ and therefore take precedent over any other approach however the updated Note does provide additional Guidance for its Members and other stakeholders and practitioners.
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