Thailand leases state land to improve citizens’ living conditions

The Government of Thailand has initiated a transformative project to lease state-owned land to citizens across nine provinces, aiming to improve their living conditions. Spearheaded by the Ministry of Finance, the initiative is said to benefit approximately 1,900 individuals over the next six months, covering around 7,000 rai (over 2,767 acres).

Deputy Finance Minister Paophum Rojanasakul announced the launch of the Thanarak Auea Ratcha project, which translates to Treasury for the People highlighting the government’s commitment to addressing housing and agricultural land issues.

The project aims to utilise unused state-owned land, managed by various government agencies, to provide affordable leases to residents, thereby enhancing their access to public utilities and services.

The project will be implemented across nine provinces: Nakhon Ratchasima (248 rai), Chiang Rai (273 rai), Chiang Mai (281 rai), Nakhon Sawan (1,120 rai), Nakhon Phanom (661 rai), Kalasin (1,174 rai), Pattani (29 rai), Ratchaburi (1,500 rai), and Surat Thani (2,100 rai). The goal is to complete the allocation of these lands within six months.

Paophum underscored that this initiative aims to provide stability and improve the quality of life for citizens. By offering land leases at low and flexible rates, the ministry hopes to ensure that more people have access to secure housing and agricultural land, which they see as a fundamental element in a stable life.

The leasing rates for residential land are set at 0.25 baht per square wah per month for plots up to 100 square wah, and 0.50 baht per square wah per month for larger plots.

For agricultural land, the rate is 20 baht per rai per year for plots up to 50 rai and 30 baht per rai per year for larger plots. Each lease agreement spans three years, with an option to extend to 30 years if desired by the lessee, reported KhaoSod.

In related news, Stock analysts are backing the Finance Ministry’s initiative to establish a new fund aimed at boosting investment in Thai shares, predicting a surge in trading activity in the fourth quarter.