By JYOTI PRATIBHA
The iTaukei Land Trust Board (TBTB) is exercising its legal and contractual right to review land rent, says general manager Alipate Qetaki.
Mr Qetaki made these comments responding to concerns raised by prominent Nadi businessmen on a review of land rent in the town area.
“TLTB is acting within its constitutional and legal rights. The leasing contract specifies the rights and obligations of both the landlord and the tenant,” he said.
“Any premium and rent charged will be within the legal and regulated limits. If parties do not agree, they have an option to go for Arbitration or go to Court.”
Mr Qetaki also highlighted TLTB has offered many from the business community to surrender their leases and get a further 99 year lease.
However, he remains mum over how much more would need to be paid by the tenants if they are to surrender their leases.
“It is also considering the early renewal of current unexpired leases terms for a new 99 years term of lease,” he said.
“There are advantages and disadvantages for surrender of unexpired lease terms in favour of a new 99 years lease; and each tenant will have to make his/her own decision.
“These tenants who do not wish to surrender the unexpired term will have their renewal considered as it expires.”
Mr Qetaki said tenants have been consulted during three meetings held since the last quarter of 2013.