Restitution of Development Gains Act.
Resource information
Date of publication
March 2008
Resource Language
ISBN / Resource ID
LEX-FAOC169191
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The purpose of this Act is to prevent speculation in land and promote the effective utilization of land by restitution development gains accruing from land and duly distributing them, thereby contributing to the sound development of the national economy. For the purpose of the present Act “development gains" means increases in land prices that are reverted to the landowner or a person executing the development projects in excess of increases in normal land prices, due to the execution of development projects, changes to a land-use plan, or other social or economic factors. The text consists of 29 articles.
