Development Readjustment Share (DRS) and Public Readjustment Share ( PRS)

Development Readjustment Share (DRS) and Public Readjustment Share ( PRS)

foreclosed land for sale_28-04-2011

 

Development Readjustment Share (DRS) is the share that is left to the administration up to an amount of 40% of the former surfaces of the readjusted lands and terrains, as a result of increase in value by readjustment. Development Readjustment Share shall be applicable only if the lands and terrains are readjusted for the public service facilities such as parks, roads, squares, parking lots, playgrounds, green areas, prayer halls, police stations and the schools that are affiliated to the Ministry of National Education, in accordance with the Article 18 of the Physical Development Planning Law. Yet the Council of State has adjudicated that the Development Readjustment Share shall be applied to the marketplaces, places that are reserved for public transportation and the regional sport fields as well. Development Readjustment Share is collected for once and it is collected in proportion to the readjusted surfaces of the land and terrains.

Development Readjustment Share is applicable for the lands and terrains that are readjusted for the public services, whereas Public Readjustment Share (PRS)  is applicable for the lands and terrains that are readjusted for the official  institutions and organizations which remain out of the abovementioned public service scope. Public Readjustment Share is regulated under the Article 12 of the Regulation on Implementation of the Article 18 of Physical Development Planning Law as “the plots of the reserved areas for the general service installations like hospitals, kindergardens, municipal services buildings or the other public service spots are allotted through the shares in proportion to the readjusted plots.” In this regard, Development Readjustment Share shall be applied to the lands and terrains that are readjusted specifically for the benefit of people living in that readjustment area whereas Public Readjustment Share shall be applied to the lands and terrains that are readjusted for the benefit of all public weal.