Sustainable Land assessment

Abstract

We want to dedicate this reflection to reconsider the generational economic value of land, considering its nature, and particularly the influence of urban planning  limits (ratlla urbanística). In this context it seems possible to asses a real land value according to the New 8/2007 Land Act criteria.

Considering that land is a raw material, which support the urban activity, and urban planning decisions, and considering that we manage such land and determinate the legacy to future generations, it is our understanding that land has three real situations: rural land –the country-, urban extension land –usually over rural land-, and serviced plots –the city-.

In this context the urban planning limit is actually a transformation tool when it becomes in a land readjustment area. The urban instrument to carry this transformation out is the land readjustment process (Institut reparcel·latori). By means of such instrument the original property rights are transposed in the final property rights –serviced plots-, according to the urban regime. This process crystallises the social contract where land proprietors get part of planning gains.  Nevertheless, the land situated beyond the urban planning limit, and out of other land necessary for urban facilities and interurban infrastructures, which are called in this paper the border zone (zona de frontera) is  not in equilibrium in respect to other plots, because it does not have a suitable land valuation system. For this reason we purpose a specific valuation system regime for such border zone, which include both frontier plots and land necessary to accommodate infrastructures not included in land readjustment areas. All those plots could be considered in a compulsory purchase situation, without considering if they are in areas of building rights distribution.