Friday, March 12, 2010

 

New state body to seize private land

 

Privately owned land in New South Wales could soon be seized by a new development authority and re-sold to developers.

The State Government is preparing laws to create the body, which would have the power to acquire land near rail and bus routes for medium and high-density housing.

The Urban Taskforce is backing the idea, but says the legislation must ensure land owners are fully compensated.