On Thursday 21 December, the City of Cape Town handed over 10 title deeds to beneficiaries of council dwellings that were previously used as rental stock in Bonteheuwel. <\/p>\n\n\n\n
The title deeds were handed over by the City\u2019s Mayco member for Area Central, Siyabulela Mamkeli, during a ceremony at the local sub-council office. <\/p>\n\n\n\n
\u201cThe handover of these title deeds is worth celebrating as some of our most vulnerable residents are now first-time property owners. A title deed is a passport to economic opportunities. It opens the doors to finance. If you go to a bank or a lender, it means you can provide the title deed as warranty or surety. This will enable you to borrow the money you may need to start a new business, to improve your house, or to pay for a child to go to university,\u201d said Mamkeli. <\/p>\n\n\n\n
Furthermore, the councillor encouraged the new owners to look after their houses, to do regular maintenance, and to make responsible decisions as these houses are valuable financial assets. <\/p>\n\n\n\n
The City is striving to increase the number of title deed handed over to first time property owners, he said. <\/p>\n\n\n\n
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