Valuations - I want to return to my block and rebuild. When will I receive my repurchase price/land value?
The repurchase price of the land will be set by the Suburban Land Agency as per the resale of any ACT Government land. The purchase price will be provided to homeowners in the six month window prior to the demolition of their house as part of the conversation around exercising the First Right of Refusal.
It is important to note that owners have received:
- value for their property, ignoring the presence of loose fill asbestos
- stamp duty concession to support the purchase of another property in the ACT or purchase their remediated block
- support to assist in relocation costs
- ability to keep fixtures and fittings that had been already factored into the market value
- advantage through First Right of Refusal in not needing to compete through public auction process with other interested parties.