Condominiums Built Over Waqf Land

Yaletown vancouverCurrently, construction of Condominiums is growing rapidly, considering the demand for housing is increasing. In this regard, in order to accomodate the people’s need for housing, the Law No. 20 Year of 2011 on Condominium (“Condominium Law”) stipulates that condominium can also be constructed over waqf land.

Waqf land means a land that is separated or granted by Wakif (party who donates its asset) in order to be used for a certain period of time for the interest of religious service and/or public welfare as per sharia law. Therefore, waqf is fully implemented for the social purpose and/or public welfare.

For condominium owners, either general condominium or special condominium, which is established by utilizing the waqf land, a Certificate of Building Ownership of Condominium Unit which is commonly referred to as SKBG Sarusun, as evidence of the ownership of the condominium unit, will be obtained.

Terms and Conditions of the Utilization of Waqf Land for Condominium

  Terms and conditions of utilizing the waqf land under Article 20 and Article 21 of Condominium Law are as follows:

  1. It shall be conducted by leasing or cooperation of utilization in accordance with the sharia principle as set forth in waqf pledge;
  2. The amendment of utilization of waqaf land allocation, which has been determined in waqaf pledge, has obtained the approval and/or written permit from Indonesia Waqf Agency, in which the aforementioned amendment shall only be applicable for general condominiums;
  3. It shall be conducted in written agreement made before a Waqf Conveyancing Officer (pejabat pembuat akta ikrar waqaf);
  4. The leasing period as mentioned in letter (a) above, is granted for 60 (sixty) years as of the signing of the written agreement;
  5. the aforementioned written agreement shall be registered in Land Office;

The lease tariff shall be determined by the government in order to guarantee the affordable sales price of the general condominium.

Did you like this? Share it:

Condominiums Built Over Waqf Land
0 votes, 0.00 avg. rating (0% score)

Comments are closed.