South African City Launches Free Property Ownership Transfer Program

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south africa property ownership

The City of South Africa has introduced a new program that allows its tenants to own their rental units by transferring the title deeds to them free of charge. This initiative is part of the Mayor’s Priority Programme, which aims to empower residents by providing them with home-ownership opportunities at no cost.

Eligibility and Funding

Legal City tenants in good standing who currently occupy free-standing houses, semi-detached houses, terraced houses, maisonettes, historic site, and service units, as well as delayed transfer units, are eligible for the program. The City has allocated almost R38 million to the initiative, which will be used to fund the attorney transfer fees and fix them at R2,500 per property, irrespective of the property purchase price. The City will also fund insurance costs for saleable rental units from the date of sale until the registration of the property.

Benefits of the Program

This program is part of the City’s commitment to exploring all avenues that will position human settlement programs as catalysts for meaningful economic growth in communities. Owning the title to one’s property is an important way to unlock opportunity, and it also becomes an asset for generations to come. This renewed focus on enabling opportunity for empowerment is expected to achieve approximately 22,000 no cost transfers over the next three years.

How to Apply

Residents who are interested in the program are encouraged to visit their local housing office or contact the Human Settlements Directorate’s Call Centre at 021 444 0333 or via the WhatsApp line at 063 299 9927.

Conclusion

The City of South Africa’s free property ownership transfer program is a significant step forward in providing its residents with the tools and opportunities they need to thrive. Legal tenants can become homeowners at no cost, providing them with greater freedom and stability in their lives. It is a commendable initiative that aims to empower people and give them ownership of their future. The positive impact that this program will have on the community is eagerly awaited.

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