Consultation opens on High Speed Rail compensation
The Department for Transport has announced compensation scheme proposals for those affected by the introduction of HS2.
They claim that the proposals will help restore confidence to the property market along the route of HS2 and make it easier for those affected to claim compensation.
The proposed schemes go beyond the Statutory Compensation Schemes that the government is legally obliged to comply with.
As well as this a consultation is open on the proposed “Safeguarding” zone along the route, generally this zone extends to 60 metres either side of the track.
Both consultations will close on 31 January, 2013.
Under the proposals, affected property owners may choose to be treated via one of the discretionary schemes, depending upon the type and location of their property.
Knight Frank has issued advice relating to the consultation. James Del Mar, head of Knight Frank’s HS2 team said: “The first thing affected property owners should do is find out which zone their property is in.
“Once they have established that, they can find out which discretionary compensation scheme may be relevant.
“This will allow them to either respond to the consultation if they feel the packages are inadequate or start to plan for which packages they should apply for.
“Alternatively, they may conclude it will be better to make a claim based on existing legislation such as Statutory Blight and Compulsory Purchase Orders.”
Mr Del Mar added: “There are still going to be many people who will not qualify for any form of compensation for the loss in value of their homes caused by HS2 until one year after the line has been operational.
“That strikes me as iniquitous, particularly to those who live outside the Voluntary Purchase Zone and want to move home, but will not qualify for the revised hardship scheme even though HS2 has reduced the value of their homes.”
For more information visit the Knight Frank website.