Government moves to take first farm: report

[BusinessTech]

Government moves to take first farm: report

The government has reportedly authorised the expropriation of a disputed farm in Limpopo, after the current owners rejected the purchase offer made by the state.

 

[Honey Badger]

Government has reportedly offered compensation of R20 million for it – but the owners want R200 million.

Fsck that! I'm taking them to court

 

[MirageF1]

Here we go.....

I see BIG sh*t on the horizon.

Welcome to Zim 2

 

[killerbyte]

This case will be the EFF's undoing because it proves that the constitution doesn't need to be changed.
I would say that we cant really judge this situation until we have seen an independent valuation.

 

[Hemi300c]

To all those idiots that support these racist parties and have not heeded the warnings watch this space. It has been said many many times over that SA will be like Zimbabwe but it has been sniggered and laughed at.
Your children and grandchildren are going to hate you for you racist and idiotic decisions you make now and they will suffer the consequences of your racism of now.

 

[SauRoNZA]

What happened to the 12,000 ha limitation story?

 

[Thor]

SA is fcked.

 

[Arzy]

This case will be the EFF's undoing because it proves that the constitution doesn't need to be changed.
I would say that we cant really judge this situation until we have seen an independent valuation.

Agreed 100% with the valuation comment.

Cognisance also needs to be given to the difference between the actual value of the property as is and its potential value if you do x, y and z.

From the article it seems the owner is stuck on the idea that a big property development could possibly be done which is pushing up the expectation. The problem with this is that the actual work for that still needs to be done in terms of zoning, subdivision and bulk infrastructure etc. which costs actual money.

Asking a premium from the state for the potential that exists is a bit absurd. If it was believed that the potential could really be exploited the owner could have started the development work already.

The states offer may be low but it is based on what is there and not some idea of what could eventually possibly be done if the stars align.