UNDER its land regularisation programme, the Joburg Property Company will transfer thousands of council-owned properties into the hands of residents, so helping to meet the goals of Joburg 2040.
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OVER the next three to five years, the Joburg Property Company (JPC), through its innovative land regularisation programme, will transfer some 3 700 properties across Johannesburg into the hands of local residents.
The My Land, My Heritage project - the first of its kind in South Africa - allows the JPC to audit, verify and transfer urban land to individuals who were formerly unable to own urban land in certain areas because of apartheid legislation.
"he Land Regularisation Programme is unique to the City of Johannesburg, forming the basis of a sustainable property economy through expediting the transfer of properties to beneficiaries, as well as releasing vacant sites on public tender," explains Helen Botes, the JPC's chief executive officer. The advantage of this approach is that it will support sustainable economic growth through private sector investment and increase the rates, taxes and service repayment base of the City.
Properties have been identified in Alexandra, the greater Soweto area, the greater Orange Farm area, Ivory Park and surrounds.