Delayed implementation on new land evaluation prices
The Treasury Department is delaying the implementation of the new land evaluation prices by six months, due to the severe flooding.
The new prices for the next four-year round (2012-2015) are originally planned for implementation on Jan 1. The prices are the references for land transactions.
Naris Chaiyasoot, director-general of the deparment, said that the delay followed the Lands Department's request. The Lands Department reasoned that the new prices, which are about 20 per cent higher than the 2008-2011 cycle, would lead to higher transaction fees. This would exacerbate individuals and corporates who will suffer from higher fees, aside from flood impacts.
Naris also noted that the delay is also because the government's committee is considering the national floodway scheme, which could also affect land prices.
From the survey of 29.3 million land plots nationwide, covering a total of 321 million rai, the Treasury Department resolved that land prices have been rising 21.34 per cent on average.
