6 February 2018 – Eje Prime
Valencia is clamping down on land speculation. The reform of the Law governing Regional Planning, Urban Development and Landscapes (Lotup) which is being processed by the Ministry of Housing, Public Works and Structures (in the autonomous region of Valencia) has reduced the timeframe that owners are permitted to submit a town planning project from six to two years once they have committed to purchasing a plot.
That term may only be extended by the municipal regulations up to a maximum period of six years, according to Valencia Plaza. The legal text is being submitted to the Consell Jurídic Consultiu (CJC) for consideration.
The limit of two years will be “the supplementary or subsidiary rule” when a plan, program or municipal ordinance governing an urban development activity does not indicate any deadline for the submission of the project. In any case, the maximum term will be six years.
With the new modification of Lotup, the Law will allow private entities to urge the expropriation of plots in their favour when the owners fail to comply with the deadlines for development, a possibility that has already been considered in the past.
Original story: Eje Prime
Translation: Carmel Drake