News

Land fees revised

THE Ministry of Lands and Natural Resources has revised consideration fees for land applicants in various property categories following President Lungu’s directive recently to adjust the fees to enable Zambians acquire the resource.

Permanent secretary Trevor Kaunda announced the development in a notice and advised members of the public to acquaint themselves with new consideration fees.
Mr Kaunda said the adjustments were effected following appeals from members of the public against Statutory Instrument (SI) number 73 of 2015, which introduced consideration fees to be paid at open market value for various categories of properties.
“A new Statutory Instrument number 106 of 2016 was effected on January 1, 2017, which revised consideration fees for all land categories.  Therefore, the public is hereby notified that consideration fees for various properties have been adjusted,” he said.
Mr Kaunda said consideration fees for high cost residential, commercial and industrial plots will now be five percent of the open market value for Zambians and 10 percent for non-Zambians.
“For agriculture, medium and low cost residential plots, consideration fees will be 10 percent of the open market value for non-Zambians. Zambians have not been affected under this category, no change in fees,” he said.
Mr Kaunda advised members of the public to obtain copies of SI 106 of 2016 from the Government Printing Department.
The implication of the adjustments is that land applicants will pay less for the land as opposed to full payment for the property of the market value which was provided for in SI 73 of 2015.
He said this move is commendable as it will encourage more Zambians to acquire land and develop it, or use the property to boost their businesses by accessing loans from banks. SUMA SYSTEMS

 



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