PropertyOpen market value Negotiation Rental advance Rateable value Hi-tech building Rentable area
Urban Land Ceiling and Regulation Act (ULCRA)
In 1976, a legislation was enacted to promote social equity by addressing issues of profiteering and hoarding in the urban land market and preventing urban congestion. This measure was aimed at creating a more balanced and sustainable urban environment. It sought to regulate land use and development in order to promote fairness and efficiency in the urban economy. This legislation has had a significant impact on the way urban planning and development is approached, and continues to shape the urban landscape today.
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