Compensation is based on the market value of your property at the time of acquisition and is based on the highest and best use of the land and recognises improvements and renovations that add value to the property. It also recognises the value of a well-maintained property.
Until the formal acquisition process begins, you are able to proceed with plans. Once a formal Notice of Intention to Acquire is issued, you cannot make any permanent improvements to your property without first obtaining SRLA approval. Please contact SRLA to discuss any concerns or proposals.