JAKARTA. The increase in the tariff for land lease has led to unease in businessmen and public in Batam. Batam Industrial Development Authority (BP Batam) on 18 October released the Head of BP Batam Regulation No 19/2016 on the new tariff on land lease or the annual authority preemie charge (UWTO) for terms of 20 years and 30 years. For an example, starting from 19 October the extension tariff of land lease in Batam Center for a term of 30 years increased by 372% from only IDR70,500 per meter square to IDR333,000 per meter square. Meanwhile, the tariffs of land lease for apartment and industry in the area also increased by 467% to IDR290,900 per meter square and 679% to IDR251,250 per meter square, respectively.
Tariffs of land lease in Batam skyrocketing
JAKARTA. The increase in the tariff for land lease has led to unease in businessmen and public in Batam. Batam Industrial Development Authority (BP Batam) on 18 October released the Head of BP Batam Regulation No 19/2016 on the new tariff on land lease or the annual authority preemie charge (UWTO) for terms of 20 years and 30 years. For an example, starting from 19 October the extension tariff of land lease in Batam Center for a term of 30 years increased by 372% from only IDR70,500 per meter square to IDR333,000 per meter square. Meanwhile, the tariffs of land lease for apartment and industry in the area also increased by 467% to IDR290,900 per meter square and 679% to IDR251,250 per meter square, respectively.