The premium payable for remnant land will be as follows:

a)       For Place of Worship and Civic and Community Institution use, remnant land will be valued for sale based on 50% of the full land value, determined by applying the factor of 5/7 to the applicable Land Betterment Charge (LBC) rate.

b)      For Residential, Commercial, Industrial uses and uses other than those set out in subparagraph (a) above or where the sale of the lands would result in gross floor area transfer, the lands will be valued for sale based on 100% of the full land value, determined by applying the factor of 10/7 to the applicable LBC rate.

c)       SLA reserves the right in all cases to determine the land premium payable in consultation with the Chief Valuer. This can occur in situations where the use does not clearly fit into any of the existing Use Groups or where the remnant land is assessed to have synergistic value.

Remnant Lands with Synergistic Value

Where the remnant land adds considerable value when amalgamated with the adjoining land parcel, such land is deemed to create synergistic value to the amalgamated land. Examples include enabling the adjoining private land to achieve a higher Gross Plot Ratio or allowing a substandard private land to be redeveloped into a development with standard plot size. The rate for remnant lands with synergistic value will be based on the higher of:

a)       50% of the enhancement in land value of the amalgamated site as assessed by the Chief Valuer, or

b)      100% of the full land value determined by applying the factor of 10/7 to the applicable LBC rate.

Formula to determine Land Premium

The formula to determine the land premium of remnant land based on LBC rates is as such:

Land premium = Area of Remnant Land x Master Plan GPR (A) x Applicable LBC Rate (B) x 5/7 or 10/7 x Leasehold Factor (C)

1.       Master Plan Gross Plot Ratio

Identify the Master Plan gross plot ratio and zoning from URA’s Master Plan from URA Space (URA SPACE).

2.       Applicable LBC rate

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 SPACE (URA SPACE)

Step 2 – Determine Use Group of the Subject Property

Identify the use group of the subject property from the Use Group Tables from URA SPACE (URA SPACE) e.g. residential (landed dwelling-house) comes under use group B1.

Step 3 – Determine applicable LBC rate for the Subject Property

Determine the applicable LBC rate for the subject property from the Table of LBC Rates. The applicable LBC 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 LBC rates, match the geographical sector number of the subject property against the use group of the subject property to determine the applicable LBC rate.

3.       Leasehold Factor

The leasehold factor is only applicable for leases that have 99 years or less in tenure. Where remnant 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.