Affordable housing units for low-income buyers to be sold by instalment

Low-cost apartment buildings in Dagon Seikkan Township.  Photo: Phoe Khwar
Low-cost apartment buildings in Dagon Seikkan Township.  Photo: Phoe Khwar

The low-cost and affordable housing estates in Dagon Seikkan and Hlinethaya townships will be sold to people in the low-income group under a long-term instalment plan, said an official from the Urban and Housing Development Department under the Ministry of Construction.
The real estate projects are being implemented with the help of Japan’s Official Development Assistance (ODA) program. Long-term home loans will be offered under the program, he added.
People wanting to purchase flats in the housing projects are required to open a savings account with the Construction, Housing, and Infrastructure Development Bank (CHID).
Some of the clients of the bank have deposited enough money to purchase the apartments, and they can apply for purchasing flats in Phases 1 and 2 of the Yuzana housing estate project and the Kanaung housing estate project in Dagon Seikkan Township, and Phases 2 and 3 of the Shwe Lin Ban housing estate project, and the Htihlaingshin housing estate project in Hlinethaya Township. The CHID Bank announced the list of applicants who can purchase the apartments on 10 May at its head office, located on Bogyoke Aung San Road, Botahtaung Township, Yangon. A total of 3,042 people have been approved for purchasing low-cost and affordable flats in Dagon Seikkan and Hlinethaya townships.
Those who have been approved to purchase flats are required to register themselves between 13 and 17 May. The Urban and Housing Development Department will announce the names of those who will draw lots on 20 May.
The Yangon Region government has already sold over 860 apartments at low-cost and affordable housing projects through the system of drawing lots. Of the total apartment units at the projects, 35 per cent are sold to the public, 25 per cent to civil servants and company staff, and 15 per cent to retired staff, according to the housing projects supervision committee.— GNLM (Translated by Hay Mar)

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