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Residential And Commercial Property

Volume 130: debated on Thursday 31 March 1988

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To ask the Secretary of State for Northern Ireland if he will take steps to have replaced the use of site value as a basis of compensation for residential or commercial property compulsorily required for redevelopment by a more equitable arrangement for compensation through market value payments.

Legislation to abolish the site value rule for residential property in article 91(1) of the Housing (NI) Order 1981 will be brought forward as soon as practicable in line with a similar proposal for Great Britain. The current site value rule does not apply to commercial properties for which compensation is already assessed on the basis of market value.