YANGON – Buyers of land sold by the Yangon regional government have to pay infrastructure fees, according to the Yangon City Development Committee (YCDC).
Land sold by the regional government lacked electricity and water supplies, the agency said.
The regional government has announced that about 530 plots owned by the government will be sold to the public for the purpose of developing business investment and public housing.
The land is on former urban project areas that lack basic infrastructure.
U Than, joint secretary of the YCDC, said more than 9,000 acres (3,640 hectares) of farmland in Yangon Region would also be sold for urban development, as the current landowners had not created the agricultural land the government had planned.
Business and industrial zones would be created on 80 per cent of the farmland taken from existing landowners, according to U Than.
Expressions of interest have been requested from developers who can provide infrastructure sold by the regional government.
“The land buyers have to budget for infrastructure fees,” said Daw Hlaing Maw Oo, secretary of the YCDC.
On Oct. 7, the regional government started selling application forms for those looking to buy land. The process closes on Nov. 8.
Currently, more than 7,700 application forms have been issued, U Than said.
The YCDC has already received about 77 million kyats (about US$50,000) from selling application forms.
Its representatives did not say how the profits would be spent.
The sales would be decided based on the business plans, available investment and how much they are offering for the land, according to U Than.
“The government has not mentioned the land prices and who will be allowed to buy it,” said U Thin Maung, who is a potential customer.
The approximately 530 plots are in Yangon’s East Dagon, North Dagon, South Dagon and Dagon Seikkan, Hlaing Tharyar, Shwepyithar and Hmawbi townships.
The government has said the land will sell according to the prices fixed by the Yangon price valuation board.
The YCDC has asked for competitive, commercial prices.
U Kyaw Than, another interested customer, told The Irrawaddy that there was no clear government information about selling the land.
On the sale forms, buyers need to offer an amount for a plot.
But the YCDC has failed to say how the buyers would be selected.
The new landowners have been told they have to implement a business within six months and resale is forbidden within three years.
U Than has said the proceeds would partly compensate farmers whose land was taken for urban projects.
There are more than 3,000 complaints received by the Yangon committee on confiscated farmlands over confiscated farmland and other property.
Compensation of 6.9 billion kyats was awarded to the farmers. For the 2019-20 fiscal year, the regional government said it had set aside compensation of 31 billion kyats for the original landowners.
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