Tutili Place, one of the first inclusionary housing developments, has launched in Diep River in Cape Town’s Southern Suburbs. The development is supported by Ndifuna Ukwazi, an activist organisation that promotes land justice and access to well-located land and affordable housing.
The brainchild of property developer IT71 and marketed by Seeff Southern Suburbs with Linomatha Properties, the mixed-use development features 71 apartments of which 59 are inclusionary housing.
It offers a choice of studio and one-bedroomed apartments, all with modern interiors and some with balconies. There are also parking bays for residents and visitors, all in a secure complex. Added to this, a range of onsite amenities such as a grocery store, restaurant, laundromat, internet café, hair, and nail salon, as well as green garden space and a drying yard.
According to Seeff, apartment living in the area is in great demand and aside from own-use buyers, the development is also a great choice for investors who can expect to rent out a unit at around R6 000 to R7 500 per month.
Bank approved with mortgage loans available, the development is selling off-plan with prices ranging from R694 000 for a studio unit and R830 000 for a one-bedroomed apartment including VAT with no transfer duty payable. The levies are also low at between R500 to just over R900 depending on the unit.
