Compensation for urban redevelopment projects

It is a compensation equivalent to the purchase of land and buildings in ordinary public works, and is paid to the right holder who moves out of the district without wishing to convert rights. The person who converts the rights will not receive this compensation because the floor of the redevelopment building equals the valuation of the previous asset.
This compensation is stipulated in Article 91 of the Urban Redevelopment Act, and is to be paid by the date of conversion after the rights conversion plan has been approved.

As compensation for losses usually received by the right holder due to the surrender of land in the district, temporary housing compensation, business compensation, movable property transfer compensation, compensation for structures and debris and bamboo trees that are not subject to rights conversion, necessary for relocation Compensation for miscellaneous expenses, etc. will be paid. The amount of compensation is calculated based on compensation standards for ordinary public works and paid by the deadline for delivery. Both the right holder to convert the rights and the right holder to transfer are eligible for this compensation. In addition, depending on the business, the enforcer may prepare temporary residence or temporary store.
This compensation is stipulated in Article 97 of the Urban Redevelopment Law.