Ministry of Environment Addresses Transfer of Development Rights: 5 Key Questions Answered – News Update
The Ministry of Environment, Urbanization and Climate Change has provided clarification on the ‘transfer of development rights’ following the recent amendment to the ‘Law on Amendments to the Village Law and Certain Laws’.
1. Which lands will be covered by the transfer of development rights?
The transfer of development rights will apply to parcels that were designated for public service areas (such as schools, hospitals, municipality service areas, official institution areas) in development plans prior to 2019, but have not been expropriated and transferred to citizen ownership for an extended period.
2. What will citizens gain from the transfer of development rights?
Citizens will benefit from the resolution of legal disputes that arise when they are unable to utilize all or part of their parcels due to them being located within public service areas. This will prevent grievances and ensure a fair resolution.
3. Will citizens’ property change hands against their will?
There will be no confiscation of citizens’ property. Instead, with the transfer of development rights, the rights corresponding to the unused parcels/shares will be utilized in other areas determined by zoning plan decisions. This will grant citizens zoning rights and provide new service areas to the public, benefiting society as a whole.
4. How will the transfer of rights be carried out?
The value of citizens’ zoning rights that cannot be utilized will be assessed, and the corresponding rights will be transferred to designated areas as per zoning plan decisions.
5. How will price determination be conducted?
All transactions will adhere to real estate valuation principles conducted by independent valuation institutions licensed by the Capital Markets Board in compliance with the Expropriation Law. Citizens will not face any financial losses, as the development right transfer process will be overseen by ministries and local governments authorized to approve development plans within their jurisdictions.
Overall, the transfer of development rights aims to resolve legal disputes and provide benefit to both citizens and the public. With transparent processes and fair valuation practices, this initiative ensures that the interests of all parties are protected.
