The Treasury Department is accelerating efforts to provide affordable state land leases for residential and agricultural purposes under the "Thanarak Eua Rat" (Treasury for the People) project, with a goal of issuing more than 3,900 lease agreements by 2025.
Deputy Finance Minister Paopoom Rojanasakul said the ministry is committed to enhancing the efficiency of state land management to address housing and land use issues for the public.
The ministry tasked the Treasury Department, which oversees state property, with reallocating unused state land possessed by various government agencies to support government initiatives on housing and land use for citizens.
This initiative targets individuals who occupied state land prior to Oct 4, 2003, allowing them to lease the land under the Treasury for the People project.
The project provides affordable lease terms in line with government policies, enabling citizens to access essential public services, financial resources and economic opportunities while reducing social inequality.
The Treasury Department established the Treasury for the People project to formalise land occupancy rights through residential and agricultural lease agreements.
In 2024, the department awarded lease agreements for 12 areas, covering 11,587 rai to 3,200 individuals, comprising 1,530 individuals for residential use (roughly 499 rai) and 1,670 individuals for agricultural purposes (more than 11,000 rai).
For fiscal 2025, the department wants to continue granting lease agreements in 13 additional areas, including Nong Bua Lam Phu, Nakhon Sawan, Mukdahan, Phetchabun, Udon Thani, Kalasin, Saraburi, Chiang Rai, Lampang, Nakhon Ratchasima, Kanchanaburi, Ratchaburi and Surat Thani. It is estimated 3,900 individuals should benefit from these leases.
The lease rates are set at affordable levels, with the rental rates for residential purposes to be charged at 0.25 baht per square wah per month for areas up to 100 sq w and 0.50 baht per sq w per month for areas exceeding 100 sq w.
For agricultural purposes, for areas up to 50 rai, the rental rate is 20 baht per rai per year, while for areas exceeding 50 rai, the rental rate is 30 baht per rai per year.
These rates are determined based on the location and the assessed value effective on the date of the lease agreement.
"The Finance Ministry is committed to continuing the Treasury for the People project, which is transforming people's lives through land lease agreements. This initiative aims to provide stability in housing and agricultural land use, improving people's quality of life," said Mr Paopoom.