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Review will assess 4,000 plots in city

By on Nov 27, 2012 in Property News

The Finance Ministry will launch a review of public land holdings nationwide including some 4,000 plots in Bangkok alone in order to assess prospects for public and commercial use, says Chakkrit Parapuntakul, the finance deputy permanent secretary.

Mr Chakkrit said the Treasury Department, which is responsible for managing 12.5 million rai of public land, will be responsible for the assessment.

The Finance Ministry wants to create a comprehensive portfolio of public assets with key data such as location, size and an assessment of development prospects, either for commercial or public use. The portfolio is expected to be ready within three months.

While such data are already available in various databases, the project is aimed at collating the information into definite categories in a systematic fashion.

Once completed, officials can readily determine the percentage and details of public land currently in use by state agencies and identify which plots have been left undeveloped or subject to illegal encroachment.

The Treasury Department also plans to do a more comprehensive audit of public land in Bangkok and other large provinces for their current status and potential for development together with a review of large land plots covering 100 rai or more nationwide.

For the full artcle, please visit http://www.bangkokpost.com/business/economics/323225/review-will-assess-4000-plots-in-city

Source : Bangkok Post 27 November 12

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