The Treasury Department will raise rental rates on state land across the country. The adjusted rates will be based on the new appraisal prices for 2016-19 to better reflect current market levels.
The department also plans to raise lease rates for commercial buildings on state land to 50-60% of the market value if the rates are far below market levels, said director-general Chakkrit Parapuntakul.
The Treasury Department charges lease rates for commercial buildings at 30-40% of market value.
Lease and rental fees on several state-owned land plots in prime locations are relatively low as they are based on antiquated rates. A building in a wet market in Samut Prakan province, for example, is rented at two baht per square wah per month.
Apart from rental and lease fee rises, the department will determine whether present utilisation of state land and buildings is being maximised, as several lease and rental contracts of government plots, ostensibly for agricultural purposes, are in fact being used for commerce.