Land Conversion AVTC TPC =E2=80=93 Law Q6

20/06/= 2018 = Thomas Sim PEA2066

What is Land Conversion or AVTC (Appli= cation for Variable Title Condition)?

AVTC* is a term used in Sarawak. West = Malaysia, it is called land conversion. The fee is called premium or additi= onal premium on conversion. Usually in land development, it is part of the = development charge. Most of the case 30% of the increase in value of the la= nd (West Msia).

*AVTC - Application for Variation of T= itle Condition?

It is a process whereby a registered p= roprietor applies to change the usage of the land from one purpose to anoth= er. It is also known as land conversion. (Land and Survey Sarawak)

Land Conversion involves payment of pr= emium or additional premium. It is like you convert your Van from a private= vehicle into a School Bus. So, for land conversion, usually it needs a qua= lified consultant who will submit on his/her behalf the proposal to the Sup= erintendent of Land and Survey Department of the Division (in the case of S= arawak) in which the land is situated for consideration by the government. = Land is a state matter, hence State Authority has the final say. The additi= onal premium is calculated based on a formula, varied between state to stat= e.

This premium also depends on the numbe= r of years that the lease for such use is to be given. Of course, the varie= d use of land is due to demand. For example, there is a need of commercial = use for the bungalow (residential) along the busy road of city. They can be= used as restaurants. The value of land use as commercial (restaurant) is m= uch higher than use as residential house. This difference in value will be = levied a premium in the calculation. Meaning, a percentage of this increase= in value will have to be paid.

https://estateagentexam.online/2014/08= /premium-and-land-use-in-sarawak.html/

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