Over-valued land raises eyebrows over Tshwane’s questionable property purchases.
Tshwane Metro Municipality acquired a piece of bare farmland for R48 million after their internal valuator had already found it was only worth about R10m. This is the fourth such transaction that Noseweek has uncovered. All were bought at hugely inflated prices shortly before the ANC lost the municipality to the DA in 2016.
Our most recent discovery involves the council’s purchase of the remainder of section 38 and section 124 of the farm Hartebeesthoek 303, located about 25km north of Pretoria city centre. The title deed shows that on 8 October 2015 the two portions, each covering 6.424 hectares and still zoned as agricultural land,were registered in the name of Tshwane Metro. The purchase price: R48m.