State wants to pay market value for forced ring road sales
THE Department of Transport and Main Roads has confirmed it is aiming to pay market value for properties forcibly sold to clear a path for the Mackay Ring Road, as affected landowners have claimed.
The concession has been made at a time when property values in Mackay remain relatively low due to the economic downturn.
"We're working with property owners and their legal representatives to make sure a fair compensation agreement will be reached for all," a TMR spokesperson said.
"We will engage an independent property valuer to assess compensation based on market value for their property in accordance with the Acquisition of Land Act 1967.
"Owners are also entitled to seek independent legal and valuation advice."
TMR said no offers had been made, but negotiations would start soon.WE'RE committed to reaching a fair compensation agreement for property owners, and we appreciate their patience and cooperation.
No offers have been made at this very early stage in the Mackay Ring Road project, however our expert property team will soon be starting negotiations with affected property owners.
With all property acquisitions, there's a legal process in place to make sure property owners are treated fairly.