Land Lease Question

[Narong Wongwan]

I have this lobang to aquire a landed property that the land lease will run out in 10 years time (60 years leasehold).

What will happen to this property when the time runs out?
Renew the lease? At what rate do they calculate this using what formula.....which dept in charge? Land office?
Heard that this has never happened before as most leasehold properties not reached expiry date.

 

[Fishypie]

Seems Like this time you have to kowtow to the Men in Whites to assist you Liao..

 

[CheongSam]

I have this lobang to aquire a landed property that the land lease will run out in 10 years time (60 years leasehold).

What will happen to this property when the time runs out?
Renew the lease? At what rate do they calculate this using what formula.....which dept in charge? Land office?
Heard that this has never happened before as most leasehold properties not reached expiry date.

You will have to vacate the property once the leased is up.Depend on SLA whether they already got plan in mind for that piece of land.

 

[commoner]

in industrial land, they will determine the new market value, and offer at a discount rate,,,

for residential,,,, probably take back, up to 99 years qnd sell you at $1000psf

 

[Brightkid]

When lease is dued, the title reverts back to the owner.

Very risky investment, unless you are absolutely sure the owner of the land (HDB or URA, depend on who owns it) as well as thhe potential plans for that land will enable you to apply to extent the lease subjected to renewing the tenure. You may not be able to extent the lease!

 

[LadyArwen]

Pay 2 fees - development charge and top up lease - DON'T

 

[Fishypie]

Pay 2 fees - development charge and top up lease - DON'T

You certainLy know your stuffs weLL, LadyArwen..