‘Use the land to make money’: landowners told by PM

Landowners were urged to explore cash-generating opportunities through the use of their land.

Prime Minister Voreqe Bainimarama.

Landowners were urged to explore cash-generating opportunities through the use of their land.

Prime Minister, Voreqe Bainimarama made the call during the Naitasiri Provincial Council meeting where he was the chief guest.

He said government was a partner with landowners where land use could generate income.

“We have removed premium payments from rental offers, making it easier for landowners to hold leases and obtain credit from financial institutions to develop their land,” he said.

He said a tenant could not subdivide a lease of their own accord, to circumvent regulatory checks and balances.

Landowner Consent

Landowner consent was required for any land alteration.

“In all cases of housing estates, once new leases are issued on each newly created lot, a premium must be paid directly to landowners for each lot,” he said.

“And just because tenants have already paid a premium on the original lease doesn’t mean they don’t receive any benefit, even if the land is legally subdivided.”

“Subdivisions and land developments increase the value of the land in the medium and long term.”

TLTB was still entitled to any development lease in the event of non-compliance with the terms of the lease.

60 percent

The consent of the landowner is required before renting the land.

10 percent

The council incorporates 10% of the sales consideration for any lot sold for an individual title.

“Landowners benefit from this agreement by having 10% of the sale consideration (sale price) per lot at the time of the sale.

“Landowners have the right to lease their land, alone or in partnership with the government, and continue to enjoy the returns of equity from its sale at market rates,” he said.

Rent land

Five things should be considered when renting land, Mr. Bainimarama said.

The five factors were:

  • 60% of the community consents to the land being leased.
  • consent of the community on the type of lease.
  • consent of the community on the duration of the lease
  • community consent on premium.
  • community consent on annual lease payments.

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