The Property Underground

Formal Appraisal Awaited in Process to Acquire Approximately 3,000 meters of Land Needed for Dewa Ruci Underpass Project in Bali.

Bali News: The Property Underground

(7/17/2011)

The team appointed by the government to secure the land necessary for the development of the Dewa Ruci Underpass Project in Kuta are taking a “hands off” approach to the Rp. 1,5 billion (US$170,000) per are (100 square meters) price being sought by landowners asked to surrender their land to the road project. The Committee for the Procurement of Land for the Development of Simpang Siur (P2T) have declared their intent to wait for the recommendations of an independent team on the correct price for the commercial lands needed by for the underpass project.

As reported by NusaBali, the Chairman of the P2T, Nyoman Soka, said it was the right of the land owners to ask a Rp. 1,5 billion per are price, but his committee would wait for an independent appraisal from a separate team qualified to examine property values.

Soka said the final price paid for the land would be based on a formula based on the market price of property in the affected area. The evaluation of proper property prices for the land is  targeted to take place during the third week of August 2011.

The underpass project will involve 6,785 square meters (67.85 are) or land comprised of State-owned land and private parties. Nine existing structures will be demolished to make way for the project. In all, some 29 separate title-holders will be affected by the land acquisition that will clear the way for the Dewa Ruci underpass.

Among the 29 parcels of private land that will be vacated for the underpass are the Harley-Davidson outlet, Maharaja Karaoke, Haffele occupying some 1,060 square meters. In addition, 700 square meters of land at the Galeria Duty Free will be required for the roadway’s completion. Private parcels owned by Cokorda Pemecutan (580 square meters) and A.A. Made Urip Sujana (650 square meters) are also on the block.

Cokorda Pemecutan has told a recent meeting that, in his opinion, the proper price for the land was Rp. 1.5 billion per square meter. Other landholders have also protested that the amount of land demanded by the underpass is excessive.

On the assumption that the land acquisition process is completed beforehand, the actual construction of the underpass is scheduled to commence in October 2011.

Source : Bali Discovery