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RICS CALLS FOR FAIRER COMPULSORY PURCHASE COMPENSATION

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The Royal Institution of Chartered Surveyors is calling for a fairer system for compensation for compulsory purchas...
The Royal Institution of Chartered Surveyors is calling for a fairer system for compensation for compulsory purchase.

A report 'Compensation for Compulsory Acquisition' launched today, says a fairer more efficient system of compensation would bring benefits to the country be speeding up the construction of large infrastructure projects.

The report's key recommendations include:

- an additional allowance over and above market value should be paid in all cases in recognition of the disruption and the often unquantifiable losses that compulsory purchase invariably involves

- a supplementary allowance should also be paid to the occupier of agricultural and business property when only part of his land is taken.

- owner occupiers should no longer be required to make efforts to sell their properties on the open market before being able to serve a blight notice requiring the relevant authorities to purchase the property

- the current rateable value limit which prevents a great many commercial property owner-occupiers from serving a blight notice should be lifted

- investors as well as owner-occupiers should be able to serve a blight notice

- owners of adjoining land to be acquired should be given the right to serve a notice requiring the purchase of the property where it has been affected to such a degree that the usual compensation is inadequate.

Copies of the report are available price £5 tel: 0171 222 7000.

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