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MyEducationPath.com :: edX : Entrepreneurial Land Redevelopment Approach: Land Readjustment
This course examines and presents processes of designing and implementing land readjustment in the context of developing countries.
Land readjustment is an alternative land-assembly approach to government compulsory purchase (often referred to as eminent domain) and voluntary market transaction. In the land readjustment process, a public or private agency invites property owners to become stakeholders in a redevelopment project and to contribute their lands to the project as investment capital. In return, each property owner receives a land site of at least equal value in the vicinity of the original site upon project completion. After all properties in the district are assembled, the combined land sites are subdivided to make space for wider roads and other local infrastructure.
The conventional approaches to land assembly are often conflict-ridden. Through this course, practitioners can add another viable option to their toolbox by learning about land readjustment as an alternative approach to urbanization in developing countries.
Land readjustment has been shown to reduce the initial capital requirement for land assembly, discourage holdouts, and minimize massive relocation of existing residents. When applying land readjustment at the right time and in the right place, this approach could mediate a major hindrance of land redevelopment in countries that are facing rapid urbanization.
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