Plan to sell sections at reduced value
A scheme to sell 10, 25-perch sections in Smith Street. Linwood, by ballot at 10 per cent below their value will be put to the Christchurch City Council on .Monday by its housing and property committee.
The sections would De offered to residents who were not land-owners as an effori to help young persons who wanted to build a home and live in it. said Cr B Alderdice, chairman of the com mittee. yesterday. A registered public valuer would put a price on the land which would then be offered at 10 per cent below his figure. . The scheme, similar to the Government's release of 3 < sections, would provide that the land would not be handed over for three years. Cr Alderdice said. Tht> would prevent a young couple from winning a section bv ballot.
milding a house on it. andi hen selling the property. A 10 per cent depositj vould be required, the new! wners having three years in vhich to pay the balance.
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Bibliographic details
Press, Volume CXIII, Issue 33408, 14 December 1973, Page 8
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172Plan to sell sections at reduced value Press, Volume CXIII, Issue 33408, 14 December 1973, Page 8
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