The Tokatoka Vunamasei of Saunaka village in Nadi wants to develop 25 acres of their land as residential lots.
Talica Meli Ratusai of the Tokatoka Vunamasei says 39 residential blocks are expected to be available by the end of this year.
She says the land was left idle for the past six years after the agricultural lease expired.
Ratusai says they have decided to deposit this piece of land into the Land Bank and each residential block is valued between $80,000 to $100,000.
According to the Land Use Unit, 60% of the members of a landowning unit have to agree to deposit their i‑Taukei land into the Land Bank.
The lease rental is based on market rates and the landowners receive the full amount as there is no administration cost involved.
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