Page 3 - Regulation 6 english law
Article-4- First: The land allocated for housing projects within the basic design shall be owned with a sale allowance of 10% of the land value provided that the investor shall provide the project with infrastructure free of charge and allocate 10% of the area allocated for housing project to the owner for investment purposes. Second: Investor, developer, and secondary developer shall be granted allocated lands for housing purposes that are outside the basic design free of charge provided not adding the land value to the housing unit price sold to citizens, also, investor shall provide the project with infrastructure free of charge and allocate 10% of the area allocated for housing project to the owner for investment purposes. Third: A. Land allocated for industrial projects outside the basic design shall be owned for 5% of the actual value of the land. B. Land allocated for industrial projects within the basic design shall be owned for 15% of the actual value of the land. Article-5 â€“ The owner of the property or whoever has the right to dispose the real estate in coordination with NIC to invest the lands and real estate allocated for investment projects in accordance with the percentage of the estimated annual rent for each one by the committees formed under Article 2 of this regulation, and as follows: A. Required land to implement the project or housing projects or multipurpose housing cities such as recreational, commercial, or services complex within housing cities after apportionment, for a rent or long lease of 7% of the value of the lease estimated at 10% of the real value of the land, provided that the investor shall return the lands used for public such as parks, streets, and others to the concerned government entities within 60 days from the date of completion of the project for free. B. Lands allocated for non-profit public services within housing complexes such as police stations, fire brigades, and worship places are excepted form provisions of paragraph A.