Web Bytes

Web Bytes 124

Municipal rates crunch to hit first in the Cape
Business Day - South Africa
Owners of sectional title units in the Western Cape will be forced to dig deeper into their pockets this year as they will be charged individually for property rates and services by their municipalities.

A new rates policy is to be implemented across SA under the Local Government Municipal Property Rates Act 2004. Under the new dispensation, property owners may in some areas be required to pay higher rates. The new policy is expected to be rolled out in Gauteng from July 1 next year, with other provinces following later. Western Cape will be the first to implement the process, which will take effect from July 1 this year.
Business Day

DA opposes Hout Bay land rezoning
SABC News - South Africa
Helen Zille, the mayor of Cape Town, has opposed the rezoning of 18 hectares of land near Hout Bay for the settlement of landless people. She has reportedly written to Richard Dyantyi, the Western Cape local government MEC, warning him against tampering with the land.

It was Dyantyi who tried to topple Zille's DA coalition government in Cape Town in September last year. He proposed replacing Cape Town's executive mayoral system with an executive committee, but a month later announced that he would not proceed with the plan.

Land values on the rise in SA
Business Day
While land prices are surging and land value as a percentage of development cost is on the rise, they are still low compared with those in developed countries.

Last week, in one of the most expensive land sales on record in Johannesburg, a developer acquired about 2,83ha of land in the Sandton central business district for more than R140m. But property experts say this sort of price, as a percentage of development cost, is not high by international standards.

The sale, brokered by Firzt Realty Company, included the individual purchase of 50 sectional title residential units on the land. The yet-to-be-named developer plans a mixed-use development including retail, office and residential components.
Business Day

More honours for top law firm
RodneyHayter.com - South Africa
More honours have been bestowed on KwaZulu Natal Real Estate Law firm, Meumann White Attorneys. Having been recognised as one of the top three KwaZulu Natal law firms of choice by Daily News readers in 2005, the four-office firm has now been recognised by ABSA Home Loans Division as the top performing firm of property attorneys of KZN for 2006.

Leave a comment:

Security Picture (click to change)
Word shown in picture:
menu close

Search Articles