More than 1 300 beneficiaries of government's low-cost houses in Steve Tshwete Local Municipality will finally celebrate full ownership of their houses and have their dignity restored during a title deeds handover ceremony this Friday.
The Department of Human Settlements has finalised the registration and processing of title deeds to over 1 300 households from Mhluzi Extention 2, 6 Nasaret Extention 24, Rockdale, Doornkop, Tokologo, KwaZamokuhle Extention 7, Hendrina. The beneficiaries will now have full ownership of their houses, be credit worthy, and improve their livelihoods.
Title deeds are important as they allow beneficiaries to access finance from financial institutions for renovations and funding for business opportunities. Acquiring a title deed enables a beneficiary to have the house as an asset, offer sense of pride and belonging.
The issuing of title deeds is to facilitate the registration in to the names of the housing beneficiaries, ensure provision of security of tenure for beneficiaries, ensure their lives are continuously and economically improved through guarantees with the title deeds and satisfy the provision of legislation to provide them to beneficiaries.
From the municipal perspective, property ownership compels the owners to pay municipal rates and services received, thereby contributing to its ongoing financial viability and economic sustainability. Beneficiaries will now be able to use their title deeds to improve their dwellings, to acquire household's goods and make use of capital borrowing against their properties to start small businesses.
Their households can also be used as an asset to build wealth. The department's mandate is to create integrated human settlements and improve households' life. Beneficiaries will use the title deeds as a legal document that reflects the ownership of their properties.
The Department of Human Settlements MEC Siphosezwe Masango, Executive Mayor Cllr M Masina will hand over title deeds, do a project visit at Tokologo and interact with few households, 163 & 189.
The event is scheduled to take place on 27 July 2012 Adelaide Tambo Community Hall, at 10h00 – Steve Tshwete Local Municipality.
