SPLUMA - What is it?
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In this week’s episode, we brought back Nigel Adriaanse (episode 39), who introduced us to Gareth Shepperson, a conveyance attorney at Delport Van Den Berg, a law firm in Pretoria South Africa.
We invited Gareth to talk to us about the Spatial Planning and Land Use Management Act because when we started on our journey of real estate investing, we were prevented from buying a property we liked because of this act.
The investor we were trying to buy the property from is actually a seasoned investor with apartment buildings, hotels and guest houses in Mpumalanga, but he also seemed unaware of this act.
He was actually selling the property to raise funds for a hotel he was building. In the end, the deal fell through and we couldn’t get the property because the municipality wouldn't approve the sale.
So in this episode, Gareth answers the following questions:
- Why SPLUMA is relevant and important to investors and how does it apply to rural and urban land?
- Who should be aware of SPLUMA?
- At which stage of development is SPLUMA most impactful- drawing of plans/ the actual constructions phase/ at application of occupational certificate?
- Who enforces the SPLUMA and how would enforcement of SPLUMA look like, with regards to a property one has developed?
- What other Local Municipal regulations work in conjunction with this regulation?
This is a very important episode for investors who are looking to get into multi-lets or developments in South Africa.
So get your pen and papers out, click play, listen, make notes and leave us a comment in the comments section.