Businesses to register for strata titles

PROPERTY owners will soon be required to register their businesses for strata titles to be issued, replacing the current sub-lease arrangement, Lands and Physical Planning Department secretary Benjamin Samson says.
Samson said in line with the initiative, the department would be introducing the stata title bill to Parliament this year.
He explained that the strata title involved titles for units, apartments and high rise buildings.
“We used to register sub-leases but this will now be replaced with actual titles,” he said.
“It is a win-win for everyone.
“Once the bill is passed, the strata title holder can go to the bank and use it to mortgage and get a loan to do some work.”
Samson said on the part of the Government, “this initiative will also be a security guarantee and an opportunity for revenue generation”.
“As statutory municipal authorities, we will be collecting their fees,” he said, adding that the department had already obtained a certificate of necessity from the State solicitor.
Samson said the department would be making a submission to the Central Agency Coordinating Committee. “Once approval is given, they will take it to the National Executive Council for endorsement and then to Parliament as a bill,” he said.
“We are also reviewing the Land Act and hopefully we can get this through this year.
“It will contain some major amendments, including the appeal process for land matters.
“We want the turn-around time to be shorter and make officers accountable too.” Meanwhile, Samson said the department would be undergoing a restructure this year, adding that “last week, we endorsed the proposed structure for all the divisions”.