VALUE OF PROPERTY
Farmland Affected By Karapiro Hydro Work •HAMILTON, last night. When an application for the sale of a 490-acre farm property at Maungatautari was being eonsidered by the Hamilton Land Saies Committee at a hearing in Hamilton to-day, it was mentioried that 30 acres.of the property would be submerged when the lake M7as formed by the filling of the Karapiro dam. A further area would be required as reserve. The' vendor, Mr. D. W. Ariell, said no indication had been given when the State would take over the land. A private valuer, Mr. T. Simons, said he did not consider the effect of the formation of .the lake relevant. Wlren he made his valuation he eonsidered that if the purchaser, Mr. T. Hurley, secured the property he would receive compensation for any land takou. Lengthy evidence was given in support of a contention that the land was of unusually good quality' with a high carrying capacity. The sale priee was £15,900, and the 'Crown valuation £12,284. Two houses were included among the buildings on the property. • The ehairman, Mr. J. Oliphant, intimated that the committee would inspeet the property. The hearing is proceeding.
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Rotorua Morning Post, Issue 5309, 23 January 1947, Page 6
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195VALUE OF PROPERTY Rotorua Morning Post, Issue 5309, 23 January 1947, Page 6
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