What is land premium?
Land Premium . ‘ shall mean the highest Financial Bid payable by the Selected Bidder to the Lessor in the manner prescribed in the RFP document and in consideration of the grant of the Lease Rights.
How is land premium calculated?
Premium = 1/4 x 1/100 x Market Value of land (in sq ft) x number of years to renew x land area (in sq ft).
What is category of land use?
Pursuant to Section 52 of the National Land Code 1965, all alienated lands are divided into three (3) categories of land use i.e. “Agriculture”, “Building” and “Industry”.
What is a premium property?
When the owner of the freehold of a property grants a lease to a new tenant, it is not unusual for the tenant to pay a lump sum up front, as well as agreeing to pay an amount of rent monthly or quarterly during the term of the lease. Such an upfront payment is usually known as a “premium”.
How do you convert land use?
Land conversion: What documents do you need?
- Identity proof.
- Sale deed.
- RTC (record of rights, tenancy and crops)
- Partition deed (in case the land has been inherited)
- Mutation documents.
- Survey map.
- Receipt of payment of land revenue, etc.
What is the meaning of conversion of land?
The process of converting agricultural land into a non-agricultural land is called land conversion, or in other words, DC Conversion; the latter name being enforced as the conversion is generally endorsed by a Deputy Commissioner.
What are the classifications of land?
They were: (i) Forest (ii) Area not available for cultivation (iii) Other uncultivated land excluding current fallows Page 2 (iv) Fallow land and (iv) Net area sown. This fivefold classification was merely a broad outline of land use in the country.
How do I check my GFA?
What is Gross Floor Area (GFA) and how does it relate to GPR? For example, if a developer is determining the potential value of a piece of land with a GPR of 2.8 and a land size of 100,000 square feet. The GFA is simply 2.8 * 100,000 = 280,000 gross floor area.