Real Estate InsightsCompensation for compulsory acquisition – value vs worth

Abstract

PurposeTo explore value vs worth in the context of compulsory acquisition.Design/methodology/approachAnalysis of statutory environment within the context of valuation theory.FindingsValue and worth could be reconciled by redefining special value in Act.Research limitations/implicationsPublic policy amendment.Practical implicationsPublic policy amendment.Social implicationsFacilitate just compensation.Originality/valueTopical issue in New South Wales, where massive compulsory acquisition programme underway to facilitate infrastructure development.