The premium payable for remnant State land is generally based on 50% of the full land value. This is determined by applying the factor of 5/7 to the applicable Development Charge (DC) rate (the premium computed on this basis will henceforth be referred to as “50% of the full land value computed based on the applicable DC rate”). The formula is as such:
Land premium = Area of Remnant State Land x Master Plan GPR (A) x Applicable DC Rate (B) x 5/7 x Leasehold Factor (C)
Identify the Master Plan gross plot ratio and zoning from URA’s Master Plan from URA Space.
Step 1 – Determine Geographical Location of Subject Property
Find out from OneMap the major roads surrounding the subject property.
Next, identify the geographical sector number of the subject property from URA’s
DC Sector Maps with reference to the major roads.
Step 2 – Determine Use Group of the Subject Property
Identify the use group of the subject property from URA’s Use Group Tables e.g. residential (landed dwelling-house) comes under use group B1.
Step 3 – Determine applicable DC rate for the Subject Property
Determine the applicable DC rate for the subject property from URA’s Table of DC Rates. The applicable DC rate at the date of Notice of Preliminary Terms and Conditions, offer, or closed tender (whichever is applicable) will be used.
Once you have selected the appropriate Table of DC rates, match the geographical sector number of the subject property against the use group of the subject property to determine the applicable DC rate.
The leasehold factor is only applicable for leases that have 99 years or less in tenure. Where remnant State lands are sold on a leasehold basis for a tenure less than or equal to 99 years, the premium will be adjusted accordingly using the Leasehold Table as attached here.
However, in certain cases where the remnant land adds synergistic value to the adjoining parcel, the premium payable may be determined using 50% of the enhancement in land value of the amalgamated site as assessed by Chief Valuer, and the premium payable in such instances could be higher than that calculated on the basis of 50% of the full land value computed based on the applicable DC rate.
i. If the remnant State land adjoins only your property, it may be sold directly to you, or
ii. If the remnant State land adjoins several properties, SLA may invite all interested property owners to bid for the remnant land in a closed tender. The land will be awarded to the highest bidder whose bid is equal to or higher than the reserve price.
You can submit an application to buy a plot of remnant land to SLA. You may apply using this online application form.