All iTaukei land under the administration of the iTaukei Land Trust Board (TLTB) will be subjected to a full assessment and valuation.
The TLTB board had approved this initiative at its board meeting held last month – to establish a complete valuation record of all iTaukei land.
TLTB chief executive officer Solomone Nata had presented the proposal to the board of trustees and was given the approval for the preparation and presentation of land valuation summaries to guide planning, development and investment decisions.
He said he has directed a full assessment and valuation of all native land titles administered by the TLTB to strengthen accountability, transparency and land asset management.
“This process will involve compiling data by LOUs (landowning units) yavusa (tribes), mataqali (clans), tokatoka (sub-clans); divisions, districts and provinces,” Mr Nata said in a statement yesterday.
He said the process would also identify land tenure status – leased, unleased, reserved and non-reserve; and assigning accurate valuations to provide a clear picture of land value distribution.
At present, the TLTB administers 12,762 land titles covering a total area of 116,197.40 hectares, including 56,700.478 hectares of reserve land and 43,312.224 hectares of leased land.
Mr Nata said the next steps now was to collate verified land parcel data across all yavusa, mataqali, tokatoka and across divisions, districts and provisions.
He said they would also commission independent valuations for all native titles and leaseable land, develop a national native land titles valuation registry with TLTB’s database, and present detailed findings and value breakdowns at the board meeting after the completion of the valuation exercise.
The CEO said it was noted at the board of trustees meeting that the exercise would include intangible valuation of assets attached to all native land titles.
He said a comprehensive guideline would also be developed to ensure consistency in methodology.
