Cape Town - The City council has approved the transfer of 219 serviced residential plots in Blue Downs at discounted rates to qualifying Gap housing beneficiaries.
The aim is to empower as property owners beneficiaries whose monthly income exceeds the threshold for state-subsidised assistance but is not enough to participate in the private property market.
These include residents registered on the City’s housing database who have not previously benefited from a government subsidy and have a monthly income of between R9 000 and R22 000, among other criteria.
Residents who meet the criteria will be given an opportunity to buy the residential serviced plots in Fairdale, Blue Downs, at discounted market value rates.
“The City currently provides various housing opportunities, according to specific target income groups, as prescribed by applicable legislation, including free state-subsidised Breaking New Ground houses as well as social housing and land restitution projects.
“The City, however, recognises the growing need for housing opportunities for individuals who fall in-between the gap, where they earn too much to receive a state-subsidised home but too little to participate in the private property industry, given the increasing property prices,” said Malusi Booi, the City’s Mayco member for human settlements.
Beneficiaries do not have to have previously owned property, but must be able to obtain an approved housing loan or bond from a commercial bank and qualify for a finance-linked housing subsidy (Flisp) with the Western Cape government for the top structure, ie the house.
The plots range between 160m2 and 350m2 in size and are valued at approximately R105 000 (excluding VAT). The market value was determined by the City’s valuers.This means that properties could be sold to the beneficiaries for between approximately R25000 and R63000.
Application forms will be available from Monday, August 5. They can be collected and returned with applicable documentation at the Kuils River municipal offices, corner of Carinus and Van Riebeeck roads in Kuils River, or the housing kiosk on the concourse level, Cape Town Civic Centre, Hertzog Boulevard, Cape Town.
* Forms can also be downloaded from the City’s website. Further queries to 021 444 0333 or the City’s call centre on 0860 103 089.
@MarvinCharles17