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Major land auction to be held in Phuket

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Major land auction to be held in Phuket | Thaiger

PHUKET: Two of the largest land plots on Racha Yai Island will be up for public auction here in June. Racha Yai is located about twenty kilometers south of Phuket. The total area of the island is 1,700 rai (approx 680 acres). There are currently three resorts on the island: Ban Raya, Raya Executive, and Raya Resort. There is also a bungalow operation, the Jungle Bungalows. The first plot to be auctioned is owned by Racha Yai Island Resort Co Ltd. It is located directly on Siam Bay. The total area is 48 rai, or about 19 acres. The second plot is owned by Racha Yai Estate Co Ltd. It is located on a headland bordering the bay. The total area is 100 rai, or about 40 acres. Both plots are Nor Sor 3, meaning that a squatter, in the absence of the owner (or an occupant authorized by him), gains rights over the land after one year. Thailand’s top land title is a Chanot; squatters on Chanot land gain rights only after ten years. The auctions will take place at 2 pm on June 1 in the Garden Ballroom of the Karon Villa hotel, Karon Beach. They have been organized by the Bangkok offices of Harrison Auction Co Ltd and Mel Giller & Associates. The properties will go to the highest bidder(s), and there will be no minimum bid requirements.

 

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