Lands department to roll out Strata title scheme

The Lands and Physical Planning Department is gradually implementing the recently enacted Strata Title Laws in the country.

The department organized its first Strata Title engagement meeting in Port Moresby this week with the staff, stakeholders, and developers to begin the implementation process.

The two-pronged law comprising the Strata Title Act and Strata Title Management Act will ease property management, opening the market for developers and investment opportunities in Papua New Guinea.

Department lawyer Simon Hahory told NBC News that the Strata title scheme would benefit the country once the project is rolled out.

“It's an option up in the property market. It will create so many other things for the benefit of everyone who would be involved,” Department lawyer Simon Hahory told NBC News of the new land law.

“For the government, it will generate income in the form of taxes, in the form of stamp duty payments, and for private sectors, it's going to create employment.”

With those two legislations introduced, seven other consequential amendments were made including the Physical Planning Act, Land Act, Survey Act, and Building Act among others to work in harmony.

The introduction of strata allows people to own units and apartments in a building constructed vertically or horizontally.

Gary Bugden, an Australian who specialized in strata and community titles for over 40 years told NBC News that this legislation will be beneficial to PNG.

Budgen, who is the founding president of the Australian College of Strata Lawyers, has been a key consultant in the development of Strata Title in PNG.

“I must say it's been a pleasure to provide some input and assistance. I congratulate Papua New Guinea on the new Strata Titles legislation,” he said.

“It is world-class legislation and it's going to open up a lot of opportunities for the various stakeholders.

“The business community and the developers will have a big opportunity here, but it'll also open up opportunities, serious opportunities for individual people and families.”

Recognized internationally for his expertise in this area of the law, Budgen has been involved in the title, subdivision, and management structuring of some of the largest and most complex developments, both in Australia and overseas, including the iconic Burj Khalifa (the World’s tallest building).

He believes this reform taken by the Department of Lands and Physical Planning could potentially address the housing needs of people.

“They'll be able to live in an environment with facilities that perhaps they couldn't otherwise afford. I think it's going to be an exciting time for Papua New Guinea.

“There'll be a few teething problems laid out, but I'm quite confident that the ordinary people in particular will benefit greatly from this legislation.”

Meanwhile, the lands department will carry out similar engagements with stakeholders in other centers of the country to carry out awareness of the strata title laws.