COMPULSORY ACQUISITIONS

Chinahouse

If your property is acquired NSW laws say you are required to get fair market value for your property. Urban Perspectives can provide Valuers with planning advice to assist with determining  just compensation for their clients.  Section 56 of the Land Acquisition (Just Terms Compensation) Act 1991 establishes how the market value of the site is determined, being:

“the amount that would have been paid for the land if it had been sold at that time by a willing but not anxious seller to a willing but not anxious buyer, disregarding (for the purpose of determining the amount that would have been paid):

(a)  any increase or decrease in the value of the land caused by the carrying out of, or the proposal to carry out, the public purpose for which the land was acquired, and…”

Our planning advice can:

  1. Identify the zoning of the land at the date of acquisition
  2. Determine whether the  zoning or proposal to acquire was part of the carrying out of the public purposes
  3. If it is, that zoning is notionally set aside and the market value is determined by considering how the land would have been zoned, at the date of acquisition, but for the proposal to carry out the public purposes.
  4. Ascertain highest and best use

Projects

Planning advice for compulsory acquisition of 1 and 3 Panorama Parade Blacktown – being lots 294 and 293 DP15914 for the purpose of health services facility

Planning advice for compulsory acquisition of Lot 196 DP 1007 Bligh Street, Riverstone (the Site) for drainage purposes