Industrial Land For Sale: Is it possible build property on it?

What considerations must the landowner make before deciding to construct a structure on his property? First, the landowner should determine the property use category endorsed on his title. A factory, for example, is permitting to construct on industrial land for sale.

 

If the land is designated as agricultural land, it can only be used for agricultural purposes. As a result, a factory cannot be established on agricultural property. If the authorities detect a breach of a condition of the land that has been alienated, the State Authority has the authority to forfeit the land.

 

As a result, any landowner who wishes to use his land for a different category of use than that mentioned in the title must apply to modify the land use category.

 

The term “conversion of land use” refers to changing the land use category listed in the land title to a different one. ‘Implied condition’ and ‘explicit condition’ are the conditions related to the land.

 

Land use category

 

All alienated lands are classified into three land use categories: agriculture, construction, and industry. The inferred conditions of the land are these three types of land use, whereas the explicit terms are those specifically endorsed or specified on the land title (e.g. the land may only be used to plant rubber trees).

 

Landowners must use their land according to the land use category and the express condition provided in their land title. Variation of land conditions is the procedure by which a register proprietor requests to change the land’s use from one purpose to another, allowing the land to be developed for uses other than those originally intended. Any owner of alienated land may file a land conversion application for the following reasons:

 

• To change the land use classification
• To impose a specific land use type
• Removing the land’s express conditions
• To get rid of the words ‘rice,’ ‘rubber,’ and ‘village,’
• To change the land’s express circumstances
• To eliminate the land’s restriction of interest
• To set a constraint on the land’s interest

 

There are a few phases involve in land conversion. First and foremost, landowners must check with the Land Office for land usage zoning to see if the requested type of conversion is possible.

 

A land value must be complete in accordance with the legislation before submitting a land conversion application. When the application is granting, there will be an extra premium. The Valuation and Property Services Department is usually in charge of the valuation procedure (JPPH). JPPH will report the valuation to the Land Office or Land and Mines Office if the application is submitting with valid and complete paperwork.

 

Conversion of Land Payment

 

When the application for land conversion is submitting, a few types of payments will be charge based on the area of the land involve:

1.Fees for applications

2. A higher premium

• The basis for calculating additional premium is specified in the numerous State Land Rules, and it varies from one rule to the next. The rate of the applicable State Land Rules, as well as the difference in market value between the existing and changing uses, shall be use to calculate the additional premium.

3.Fee for submitting a land application

4. Title registration fee

5.Fee for conducting a title survey (if required)

If the land is affecting by a boundary change, a title survey is requiring to determine the new land border.

 

Required Documents for Land Conversion:

 

The following documents are requiring for each individual application:

 

• a copy of the land title that has been certified
• a copy of the current year’s quit rent receipt
• Every person with a registered interest in the land must sign an authorised letter.
• The applicant’s contact information
• Site map
• Plan of the Location

 

The following supplementary documents must be prepare for a corporation application:

 

• Resolution of the corporation
• The company’s memorandum and articles of incorporation
• Members of the Board of Directors
• Distribution of shares statement

 

The time it takes to apply for a land conversion varies from 18 to 24 months. As a result, it is recommending that the landowner employ a professional consulting team to provide advice in the application method and to effectively speed the application process.

 

You now have the ideas about industrial land, kindly share this article to your friends who might interested on this topic.

 

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