Amendments to Land Acquisition Act proposed
Amendments to the Land Acquisition Act were introduced in Parliament today.
The changes will enhance the compensation framework for landowners affected by part-lot acquisitions, or part of land acquisitions.
This includes a revision to the Betterment Levy - in that when a landowner sells part of his land and the remaining land becomes more valuable, the increase in value is no longer deducted from the compensation he is given for the land he sold.
This means that affected landowners will be better compensated.
Other proposed changes include enabling the Management Corporation of strata-titled developments to act on behalf on individual unit owners when common property is acquired.
At present, when common areas such as car park lots or grass verges in condominium blocks are acquired, every unit owner in the development is required to go through the entire acquisition process, like meeting compensation officers and submitting claims, even if their own units are not affected.
Law Ministry say the changes will save time and effort for all parties.
The last major change to the Land Acquisition Act was in 2007.
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