General Information

BENEFITS OF CLOSURE

  • Safe environment for young & old
  • Manageable safety environment
  • Improved living conditions
  • Easier to sell and rent – 10%+ investment
  • R10 000 investment = at least R100 000-00 increase/growth on property value
  • Reduced short term insurance premium
  • Collective bargaining for cheaper armed reaction
  • Safety increased at business premises for employees and customers

CURRENT SELLING PRICES

Houses  Townhouses

  • Eldoraigne  R2, 500 000-00  R 1, 500 000-00
  • Wierdapark  R 1, 900 000-00  R 1, 300 000-00

CURRENT ROAD CLOSURE AREAS

  • Uitsigpark   R 3, 500 000-00
  • Eldo 3  R 3, 300 000-00
  • 10%+  R 250 000-00
  • 5%+  R 75 000-00

FINANCIAL BENEFITS

  • Property Value Increase 5%-10%
  • R50,000 to R100,000 minimum
  • Selling period much shorter than in open areas (urgent sale)
  • Reduced premium on Short term Insurance 15-20% (R150 –R200 saving per Month Based on R1000 premium)
  • Sapcor at 012 9988295 for confirmation or your own insurance broker
  • Existing Armed Respond can be adjusted with saving opportunities subject to alternative armed respond.  This process to be investiged for implementation at a later stage

REQUIREMENTS BY COUNCIL

  • 67% (70%) Support by owners
  • Traffic Impact Study
  • Formal Application compiled
  • Application Fee paid
  • All departments to approve
  • SLDT give principal approval
  • 40 days advertising for objections
  • 58 requirements – way leave approval
  • 2 years re-application

COST

TOTAL 70% HOUSES TOWNHOUSES
OPTION 1 – BLOCK 3
UNIT COSTS 370 259 364 @ R700 6 @ R350
OPTION 2 – NORTH OF SPRUIT
UNIT COSTS 1380 682 837 @ R660 548 @ R330
OPTION 3 – WHOLE AREA
UNIT COSTS 2290 1075 1285 @ R560 1005 @ R280

PROJECTED TIME FRAME

  • P1: Get 70% support and money for application –  5 – 8 months
  • P2: Traffic Impact study + Application drawn up –  2 months
  • P3: Permission by Council – 12 months
  • P4: Advertising, Wayleave, Tenders – 3 months
  • P5: Construction – 4 months
  • P6: Operational – ± 24 months after starting

WHO DOES WHAT?

HOA (Sec 21 Company)

  • Contracting
  • Monitoring and Management
  • Own Bank Account
  • Annual Meeting, Audit, Budget

Management team

  • (Project manager, traffic engineer, etc)
  • Planning, Traffic Impact Study, Application for Closure
  • Project management for Implementation

Managing Agent (Pty Ltd)

  • Administration
  • Levy Collection and Bookkeeping
  • Corporate Governance