800k title deeds to be handed over to address housing backlog
The EAAB has until 2019 to handover the deeds municipal houses built before and after 1994.
JOHANNESBURG - The Estate Agency Affairs Board (EAAB) says it's in the process of handing over about 800,000 title deeds by 2019 to address the housing backlog in the country.
The board is taking part at the Gauteng Economic Indaba in Sandton.
Premier David Makhura says the indaba seeks to engage civil society, business, labour and various key stakeholders to improve the provincial economy.
The two day conference ends today, but Makhura says it's not just a talk shop and ideas made by role players will be implemented.
The agency's Chief Executive Officer Bryan Chaplog says they are project managing parts of the Reconstruction and Development Programme (RDP).
He says this includes assisting to obtain title deeds for people living in municipal houses built before and after 1994.
"Post 1994 there is, for various reasons, houses were persons have received a certificate of occupation, but they don't have the title deed. There is a backlog."
Chaplog says the process began in 2014 under the instruction of Human Settlements Minister Lindiwe Sisulu and will be completed in 2019.
The board says while the average value of a RDP house is valued at around R350,000, many people are selling their homes for as little as R30,000.
The CEO says RDP home-owners should not allow themselves to be coerced.
"Don't sell your property, understand it's an asset. If you decide to do that, make sure it's at the right value. A lot of people are selling their property for [R10,000-R50,000]. So what happens now? You have not touched the equity of the cost price, what about the equity of the market value of the property?"