Government low-cost housing event to be held in October at MICT Park

A low-cost housing event will be held from 21st to 23rd October at MICT Park in cooperation with the Department of Human Settlement and Housing Development and the Construction and Housing Development Bank.

The low-cost housing event, led by House.com. mm, includes low-cost apartments implemented by the government under a 100-day project.

The low-cost housing expo will feature the government’s low-cost programmes and the fair-cost apartments developed by construction businessmen.

“We will make an effort to meet the target, but the event will not be onestop service for the buyers”, said Ko Tun Tun Naing, in charge of public relation for House.com.mm. The low-cost housing expo plans to sell apartments in 8-year instalments through a contact with Construction and Housing Development Bank. The down payment is set at 20 to 30 per cent of the cost.

The highest cost of the apartments sold by the government is Ks12million per apartment and the lowest cost will be under Ks10million.

Those who want to buy the apartment in instalments must have a minimum monthly income of three to five lakhs. The apartments will be three sizes: 658, 484 and 520 square feet in area. The apartments will be in four-storey buildings with 6 or 8 units on each floor.

“There is no rule to sell the apartment to those who cannot afford to pay the down payment. But we will make an effort to formulate this rule. We will scrutinise the buyers whether they have their own house or not, said an official from the Construction and Housing Development Bank.

There are a total of 2,208 rooms for sale from the government: 864 rooms from the Yuzana low-cost housing project; 1, 840 rooms from the Kanaung low-cost housing project and 504 rooms from the Shwe Lin Pan project 3, Hlaingthaya Township.

Source: Global New Light of Myanmar

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