Tax Issues Relating to Redevelopment of Immovable Properties

DEVELOPMENT AGREEMENTS

  1. Till the 1970’s, Builders often purchased land outright and did not enter into Development Agreements. However, Development Agreements in relation to immovable properties became very important in a legal sense, with the promulgation of the Urban Land (Ceilings and Regulation) Act, 1976. Under this law, land in excess of […]