Print Page   |   Contact Us   |   Sign In   |   Register
Community Search
Valuers' Newsletter Issue 06
Share |

 




 
#06 issue: Saturday 01 April 2017
 






Dear Reader,

 

Herewith your next Valuers newsletter issued by the SAIV.




Revision of Deeds Office Schedule of Fees

In Government Notice R175, dated 28 February 2017, Government Gazette No. 10694, the Department of Rural Development and Land Reform (the Deeds Office) published an amendment to the Deeds Registries Act (47/1937) giving effect to a revision of the Schedule of Fees of Office as prescribed by Regulation 84.  
This revision resulted in an increase for Transfers, Property, Person, Document and DOTS searches by R1 per search. This price increase goes into effect from 25 March 2017.
Other property searches, such as Spider, WinDeed Property Report, WinDeed Database Property and Automated Document Tracking will also be affected. 

Please view the updated price list from 25 March 2017 by clicking here from 25 March 2017.

Read More




.



Buying a Business with a Home loan: Is affordability measured with reference to borrower's income or to the business' estimated profits?

Wiese and Another v Absa Bank Limited (14580/2013) [2017] ZAWCHC 12 (24 February 2017)

May a bank refer to the projected income of a separate commercial entity when assessing affordability of a personal loan for a consumer, in circumstances where the loan to be advanced to the customer is for the specific purpose of purchasing that commercial entity?

The consumer here argued that the bank knew that his salary was insufficient to cover the instalments under the home loan whilst the bank maintained that the estimated income of the franchise that the borrower intended to acquire with the loan, would be adequate to enable him to repay the loan.

The Judgement can be viewed here.
To continue reading the summary click here.

Read More
 



.




Making green affordable housing a reality

Nedbank Corporate and Investment Banking (NCIB) today announced that is has made the first disbursement from an innovative R120 million Sustainable Affordable Housing finance facility that was put in place through the collaborative efforts of Nedbank’s Affordable Housing Development Finance division, and South Africa’s Green Fund.

The first recipient of funding from this facility is Belhar Gardens, a Cape Town-based social housing project owned and managed by Madulammoho Housing Association (MHA). The 630-unit development is the result of a public-private partnership and was made possible through the provision of land, grants and subsidies by the Western Cape Provincial Government and the Social Housing Regulatory Authority (SHRA).
Developed by Calgro M3 Holdings on behalf of MHA, Belhar Gardens is aimed at households earning between R2500 and R7500 per month.  It offers bachelor, one- and two-bedroomed unit rentals starting from as low as R750 per month and, according to Manie Annandale, Head of Affordable Housing Development Finance at NCIB, it is a prime example of Nedbank’s stated purpose to use its money expertise to do good for individuals, families, communities and businesses in South Africa.

Read More



 



Land Instalment Sale: No Recordal, No Debt Arising?

Amardien and Others v Registrar of Deeds and Others (5283/2016)
[2017] ZAWCHC 14 (23 February 2017)

Where property is sold in an instalment sale agreement, our law requires the contract to
be recorded within a certain timeline against the property’s title deed, essentially to protect
the purchaser should the seller try to sell the property to a third party without the
instalment-paying purchaser’s knowledge. To give teeth to this, the law further provides
that a seller cannot claim compensation before such recordal. One may well wonder, as the court was asked to determine here, what happens if the contract was recorded late.

Did the obligation to pay instalments come to a standstill in the meantime, or did the
outstanding amounts nonetheless accrue and become immediately due and payable once
the contract was recorded?

The Judgement can be viewed here.

To continue reading the summary click here.

Read More
 



.





   
   
 
What safety requirements must my swimming pool comply with?

“I’m contemplating building a small swimming pool in my yard. I’ve heard that you are supposed to have your swimming pool fenced off. Is that true?”

A swimming pool is a fantastic idea for a hot summer, but it also represents a very real safety risk as the high number of drownings over the last few years can attest to. It is for this reason that the legislature saw it appropriate to provide regulations that govern the safe operation of swimming pools.

Part D4 of the National Building Regulations (“regulations”) requires that an owner of any site which contains a swimming pool must ensure that access to such swimming pool is controlled. The regulations continue and state clearly that any owner who fails to comply with this requirement shall be guilty of an offence. Additionally, a home owner can also be sued for negligence should someone drown in their swimming pool, depending on whether negligence was present. A pool that however does not meet the required safety standards or where those measures are not effective can provide the necessary grounds for showing negligence on the part of the owner.

Part D5 of the regulations further state that an owner shall be deemed to have satisfied the necessary control requirements where access to the swimming pool complies with the relevant South African National Standards (“SANS”), as published by the South African Bureau of Standards(SABS).

Read More
 



 





     
SA seeing marked upswing in mixed-use hospitality investment with entrance of large property developers

“Recently, we’ve witnessed a noticeable shift in the nature of hotel development in South Africa and the manner in which such developments are funded and owned,” states Wayne Troughton, CEO of HTI Consulting, a specialist hospitality and real estate consulting firm.

”Historically, few SA developers looked to own hotels, instead opting to secure leases through the typical developers model used in other asset classes,” he explains. “More recently, however, a number of factors have resulted in the construction of more hotels within larger mixed-use buildings and communities.”

 

Towards the end of 2016, local independent property development company, The Amdec Group, announced the investment of R3-billion into five brand-new hotels in Johannesburg and Cape Town, to be managed under the Marriott International Hotels brand. The Johannesburg hotels will be developed at One On Whiteley, a larger development by Amdec within Melrose Arch. In Cape Town, the five-star, 200-room Cape Town Marriott Hotel Foreshore and the 150-room Residence Inn by Marriott Cape Town Foreshore will be situated within Amdec's latest mixed-use development named Harbour Arch, modelled on Melrose Arch. A 189-room AC Hotel Cape Town will be situated in Amdec's The Yacht Club mixed-use development, close to the CTICC and Waterfront.

Read More
  



 






   

Cape Town park earmarked for housing, work development
Plans are under way to develop 120 ha of the 240 ha Two Rivers Urban Park (TRUP), in Cape Town, into a mixed-use development to provide previously disadvantaged and lower-income families access to the central business district.
The TRUP, located near the confluence of the city’s Liesbeek and Black rivers, will be developed through cooperation between the African Centre for Cities and the Dutch International New Town Institute.

“The Netherlands aspires to be a reliable and solutions-driven partner. We believe that it is essential to first understand South Africa’s unique context before setting out to achieve real results in brownfield urban development,” Netherlands Consul General Bonnie Horbach said at a workshop on Friday.
The workshop was convened to discuss the findings and recommendations of Phase 2 of the TRUP project, where Dutch and South African specialists explored policy and research; design and planning; environmental and heritage opportunities; the feasibility of interconnected transportation systems and collaboration in developing water management.

Read More


 


 


   
South Africa’s Western Cape sells off Tafelberg property
The South African Western Cape provincial government on Wednesday ignored public calls for low-income housing redevelopment of its Tafelberg property in Sea Point, giving a go-ahead for its $10.8m sale on Wednesday.

The government later justified their action in a statement about the unsuitability of the site for housing purposes paving way for Tafelberg property to be sold off.

A contributing factor was that the site would not receive a state subsidy because it was not a Restructuring Zone, a requirement stated in the Social Housing Act of 2008.

Failure of declaration by the national human settlements minister was thus a hindrance to the legal provision of the site for the construction of housing units.

 

The provincial cabinet proposed that the Helen Bowden Nurses Home in Sea Point be redeveloped as low-income housing as it did not face legal challenges from surrounding property owners as well as being outside the current Restructuring Zone.

Read More

 




 



   


Ballito Junction Regional Mall opens

The fully-let Ballito Junction Regional Mall opened its doors today on the Dolphin Coast of KwaZulu-Natal, bringing an exciting array of comprehensive, quality shopping to the growing, diverse and flourishing consumers of Ballito and its surrounds.

Owned and developed by the consortium of Menlyn Maine Investment Holdings and Flanagan & Gerard Property Development & Investment, Ballito Junction Regional Mall is the major expansion of an existing 10,000sqm shopping centre, which has grown eight times its size, to a massive 80,000sqm of world-class shopping.

With its sheer size, shopping and leisure variety, unique attractions, and all-encompassing services and amenities, Ballito Junction is positioned to serve the large cross-section of shoppers. This gives it a dominant position and super-regional pull.

Besides its wide-ranging shopping experience and top-notch retailers, the mall is designed to be a real asset for its community – an expanding community that had become sorely underserviced by retail.

Read More


 






   
1 000 houses to be built for Mpumalanga mining community

Mpumalanga Premier David Mabuza has committed to build 1 000 RDP houses for the Louisville mining community living next to the closed Lily Mine in Barberton

The project, the Premier said, will create an employment opportunity.

“We want the people to be able to have food on the table and to have shelter they can call home, while we deal with and solve the challenges of Lily Mine,” Premier Mabuza said.

Three bodies of miners have been trapped underground at Lily Mine for about a year. Yvonne Mnisi, Pretty Mazibuko and Solomon Nyerende were working in a shipping container office when the entrance of the mine collapsed, leading to the container falling into the ground.

 

On Thursday, Premier Mabuza visited the area and held a two-hour-long meeting with the local community, which expressed dissatisfaction about the lack of government services and economic activities.

The community, which is estimated to be around 6 000 families, relies mainly on working at the mines.

Read More
  






.

more Calendar

2017-07-27
Eastern Cape Branch Workshop Luncheon 2017 July 27

2017-08-01
KZN Branch Workshop 2017 August 1

Featured Members

Online Surveys
Membership Management Software Powered by YourMembership  ::  Legal