How are urban development obligations in Medellín to be settled in 2022?

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This is the current situation of the settlement of urban development obligations in Medellín for 2022.

If you came to our site, it is because you probably received a communication from the Mayor's Office of Medellin with the "resolution 201950115951 of December 2019″. "By means of which the liquidation is made for the compensation in money of the urban obligations for the concept of land for public space for recreation, meeting and equipment, and for the construction of basic equipment".

According to the website of the municipality of Medellín: "The urban obligations with compliance or compensation in money, become enforceable from the moment in which the liquidation that determines the equivalence of the obligation in money is issued, according to the appraisal made and in accordance with the square meters to be transferred or built determined in the respective license".

In this document, the mayor's office states that an additional 15% will be added to the cash payment of the total amount of the urban development obligations "in order to contemplate the costs of acquisition and provision of the land by the administration. This means that it is not very beneficial for your project to make the payment in cash.

How do I pay my urban development obligations in Medellín with compensation lots?

The payment of urban development obligations in compensation lots is called "purchase of the right to payment of urban development obligations".

The purchase of the right of payment of the urban development obligations is carried out through a sale and purchase between 2 individuals (the owner of the land that has been made viable and the builder to be compensated), who will negotiate the price and form of payment formalized through a real estate purchase and sale agreement. 

If the property to be compensated has already made the material and legal delivery, the peace and bond will be issued as soon as possible by the municipality of Medellín. In the event that the property has not yet made the material delivery, the municipality will issue a favorable concept so that when this delivery is made, it can be generated the peace of payment of the urban development obligations in Medellín. 

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