PIOJ Growth-Inducement Strategy - Planning Institute of Jamaica
PIOJ Growth-Inducement Strategy - Planning Institute of Jamaica
PIOJ Growth-Inducement Strategy - Planning Institute of Jamaica
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Current Status: This initiative could be implemented within an 18 to 24 month period,<br />
through the public-private partnership modality but such a process would require that an<br />
up to date inventory <strong>of</strong> all publicly owned land be developed.<br />
6. Land registration and Title<br />
Of the more than 800,000 parcels <strong>of</strong> land in <strong>Jamaica</strong>, approximately 47% are<br />
unregistered. They represent "idle assets" since the lack <strong>of</strong> titles severely restricts their<br />
use as capital for investment and the creation <strong>of</strong> wealth. This informality is evidenced by<br />
the fact that the <strong>Jamaica</strong>n land market boasts two distinct types <strong>of</strong> land titling operating in<br />
parallel but which tend to favour increased informality (Deed system) primarily as a<br />
result <strong>of</strong> the costing and regulatory framework applicable to the formal process (Torrens).<br />
The major land titling initiative in <strong>Jamaica</strong> at this time falls under the Land<br />
Administration and Management Programme (LAMP) which seeks to regularize and<br />
clarify parcels <strong>of</strong> land in seven parishes. While bolstered by the Registration <strong>of</strong> Titles,<br />
Cadastral Mapping and Tenure Clarification (Special Provisions) Act which allows for<br />
special exemptions from Transfer Taxes, Stamp Duties and discounted legal fees, the<br />
success <strong>of</strong> the programme has been less than robust. This has led to the establishment <strong>of</strong><br />
a public private partnership involving the Korea Cadastral Survey Corporation and the<br />
launch <strong>of</strong> LAMP 2 in July 2010. This involves the expansion <strong>of</strong> LAMP’s activities into St<br />
Elizabeth, Clarendon and Manchester, some <strong>of</strong> the parishes deemed to have the lowest<br />
percentages <strong>of</strong> title distribution.<br />
Current Status: The distribution <strong>of</strong> titles under LAMP 2 in particular is likely to be<br />
constrained by an emerging capacity issue at the National Land Agency (NLA). This as<br />
the NLA has opted to check 100 per cent <strong>of</strong> all surveys conducted under LAMP 2 relative<br />
to the reported norm <strong>of</strong> 5 to 10 per cent. This will retard the timeliness <strong>of</strong> the process<br />
significantly. There are also issues <strong>of</strong> financing. Whereas the average total cost <strong>of</strong> first<br />
registration under LAMP is $70,000 some persons are unable to identify funds to pay for<br />
same. Several private sector financial entities have been invited to participate. However,<br />
they have opted to charge onerous commercial rates and there have been no takers <strong>of</strong><br />
these loan funds. The NHT is seeking to intervene in the market but are currently trying<br />
to source inexpensive loan funds to on-lend to qualified participants.<br />
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