Committee completes assessment of Amendment Bill to Land Act

The National Development Committee has completed its assessment of the Amendment Bill to the Land Act, to allow the lease of state lands and property on state lands for 50 years.

The bill was submitted to the parliament on behalf of the government by Progressive Party of Maldives (PPM) member, Gadhdhoo MP Ahmed Rasheed.

The bill states that if a property on a land or a property on a land under the purview of a ministry is sold, 15 percent of the selling price should be paid by the seller to the government as tax.

The bill further states that buying and selling is allowed, in accordance with the regulations established under the Land Act, for lands which are designated for economic purposes and handed over to ministries.

The Land Act, first put together in 2002, states that state lands can be leased for 15 years. The duration was increased to 35 years by the 16th parliament.