How was residual approach implemented in South Africa?

The residual approach in South Africa was implemented as a method for valuing properties, particularly in the context of real estate development and urban planning. This approach estimates the value of a property by assessing the expected revenue from its development and subtracting the costs associated with that development, including construction and financing. It has been utilized to support decision-making for investments and to evaluate land use, particularly in areas undergoing transformation post-apartheid. As a result, it has played a significant role in addressing land value and planning challenges in the country.