State lands act – Apartment for sale in Singapore
Chief Valuer is appointed by the President to carry out the valuation of all State lands, lands managed for or on behalf of the Government or buildings on any such land for their disposal; and to carry out valuation of any lands and buildings required for feasibility studies, court proceedings, arbitration or other purposes. Apartment for sale in Singapore.
The Commissioner of Lands is in charge of the general administration of this State Lands Act.
Singapore Land Authority (SLA) is the statutory board under Ministry of Law to manage StateLand and Buildings, land sales, leases, acquisitions and allocation, developing and marketing land-related information and maintaining the national land information database.
State lands are sold under Government Land Sales Programme. Other properties are let out by tender based on Tenancy Agreements (max 3 yrs) or Temporary Occupation Licences (TOL)
Differential Premium (DP) is payable when there is an increase in use and/or density of the land resulting in an increase in land value.It is a ‘betterment tax’ whereby permission is granted over and above what has been prescribed in Master Plan. DP is calculated based in Development Charge (DC) Table or based on Valuation determined by Chief Valuer.
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