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A Study on Applicable Standards and Improvement in Land Price Estimation for Restitution of Development Gains

  • Korea Real Estate Review
  • 2014, 24(4), pp.207-224
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate

Lee， Woojae 1,  Hun Hee Cho ORD ID 2

1고려대 건축사회환경공학부
2고려대학교

Accredited

ABSTRACT

The key point of the development gains estimation is to estimate the increase in land value due to the implementation of development projects. The estimation of the land prices is in Article 10 of the Restitution of Development Gains Act. However, since the enactment of the law 12/30/89, Article 10 has been the most frequent target of petition to the Constitutional Court and statute interpretation. So it is urgent and necessary to improve the system of land price estimation. Therefore, the purpose of this study is to review the criteria of estimation and to present estimation standards classified into two. In addition, to analyze the problems of the estimation standards in terms of legal aspects⋅practical aspects⋅land price response and to present the improvement of the problems. First, the problem in ‘official land price standard’ is estimation of the land price by the appraisal in the absence of officially assessed individual land price. To improve the problem, this study present the deletion of the appraisal provision and the use of estimated land price. Second, the problem in ‘purchase price standard’ is that actual sale price is difficult to recognize the objectivity⋅reliability under the current criteria. To improve the problem, this study present the appraisal.

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