NAK has published the prices that form the basis of land purchase contracts

By: STA Date: 2023. 05. 02. 10:00

The National Chamber of Agrarian Economy (NAK) has published on its website the usual local sales prices, which the local land commissions must take as a basis when evaluating land sales contracts, the NAK told MTI on Tuesday.

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According to the amendment of the Land Transactions Act that has been in effect since Monday, the price of land that is not classified as a forest may not exceed by more than 10 percent the average value of the local average turnover of the calendar year prior to the sale contract – they justified the publication of the data.

To a greater extent, this can only be deviated from with a good reason, included in the contract

According to the announcement, this can be the land’s location, location, accessibility, favorable topography and slope, orderly flow of water, good cultural conditions, irrigability, and favorable shape in terms of cultivability. The search engine on the NAK website is open to the public, after indicating the settlement and the branch of cultivation, it displays the usual local turnover value broken down into hectares and gold crowns, they wrote. Since the entry into force of the Land Transfer Act in 2014, the local land commissions have evaluated whether the price included in the sales contracts is in proportion to the market value of the land.

According to NAK, the current change meets the expectations of farmers, can simplify procedures and result in more objective data than the previous system, which was based on the income-generating capacity calculated for the 20-year production period. The methodology for calculating the data was approved by the Ministry of Agriculture (AM), they added.

MTI