Land Banking. Acquisition and Disposal unit of Buganda Land Board aims at identifying
acquiring and banking parcels
reserved for future investment or eventual land disposal when it appreciates value. This is not restricted to His Majesty the Kabaka of Buganda's land but also open to other private Mailo land and other assets that BLB finds viable to invest in.
The other essence behind the land banking phenomenon is to enable tenants on Kabaka's land to surrender part of their interest in their respective Bibanja (holdings) to Buganda
Land Board (landlord) in return for leasehold Certificates of Titles on the remaining land.
This is a voluntary exercise, and it is agreed upon by the two parties according to Section
36 of the Land Act.
Benefits of Land Banking
It enables tenants on Kabaka's land to get security of land tenure by obtaining titles.
Having titled land opens up business and development opportunities for clients as
a title can easily be used as collateral. The core principle behind land banking is to encourage optimal land use and better living through planned settlement on the
part of tenants.
This direct intervention on the part of the landlord helps in land
and property appreciation.
Banking & Acquisition Process flow
The first stage involves engaging in informal talks with prospective clients.
Physical inspection carried out by a Land Banking Officer and a brief prepared.
A survey is carried out to establish status and acreage
Valuation is done based on current values or commissioned depending.
Clearance by legal department
Files are presented to the Internal Land Banking Committee for assessment
Clearance given by finance on modes of payment.
Files finally presented to the Land Acquisition and Disposal Committee for clearance