Government buying your ips due to road widening etc

Discussion in 'Legal Issues' started by TMNT, 12th Feb, 2016.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,100
    Location:
    Sydney or NSW or Australia
    You will need a vary good understanding of the project in order to buy well. Properties around a rail line like the northwest jumped but those directly affected but not benefitting didn't achieve the same growth. You take a calculated risk on what will happen once a road or piece of infrastructure becomes operational eg: noise, vibration, odours, pollutants, excessive light etc.
     
  2. Marg4000

    Marg4000 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    6,380
    Location:
    Qld
    Nephew had house resumed in Brisbane for railway works. Very happy with outcome. House and land valued at highest use and was deemed to be a possible unit site so paid accordingly. As he decided to move interstate he received compensation for the stamp duty waiver had he bought again in Qld. Also moving costs paid.

    Years of notice given and he was paid out at a time of his choosing.
    Marg