Any new block of land released by the ACT Land Development Agency (LDA) to the public will be available for land rent. For further details on the land available for rent, contact the Land Development Agency.
Other helpful FAQs.
Only single residential dwellings can be built on land rent blocks. Units or attached dwellings cannot be built on land leased under the scheme. Planning and quality controls applying to land rent blocks will be the same as for land held under traditional crown leases.
A lessee’s annual land rent payment will be calculated as a percentage of the unimproved value of the block of land. There will be two different rates available for land rent.
Two land rent rates are available:
- a discounted rate, calculated at 2 per cent of the unimproved value of land; and
- a standard rate, calculated at 4 per cent of the unimproved value of land.
The unimproved value takes into account the value of the land itself and not the value of any additions to the land – such as the house or garage.