Apartments In Shwe Pyi Thar Low-Cost Housing Project To Be Directly Sold By Yangon City Development Bank
The apartments of Shwe Pyi Thar low-cost housing project will be directly sold by the Yangon City Development Committee with the cash down payment system. These are valued between the minimum price of K10.9 million and the maximum price of K17.3 million, according to the statement released from the Yangon City Development Committee.
The project to be sold by YCDC is Shwe Pyi Thar low-cost housing project at the corner of Setmhu Road and Padauk Road, Shwe Pyi Thar Township, Yangon Region. The apartments with the width of 490sqft of four units of six-story RC building with eight rooms in the project will be sold.
The ground floor room is priced about K17.4 million, the first floor room is K15.4 million, the second floor room is K14.4 million, the third floor room is K13.3 million, the fourth floor room is K12.2 million and the fifth floor room is K10.9 million, according to the reports from the Yangon City Development Committee.
When the people want to buy the low-cost housings sold by the Department of Urban and Housing Development with installment plan, they have to open housing savings account in CHDB and they would purchase it if the housing saving amount has reached 30% of the apartment value, according to the issue.
The initial deposit of 30% has been reduced to 20% and the remaining 80% would be paid with long-term loans, according to the Department of Urban and Housing Development.
The monthly saving amount is not set, so, they can save depending on their monthly income. Moreover, they will get 8.5 % of interest on their savings per year.
The Initial Low-Cost Housing Project (Pilot Project) is being implemented by the Government jointly with the construction entrepreneurs and the 50% of the project is intended to be completed during 2018. The project includes the rental housing and others housings including 700 rooms, according to the sources from the Ministry of Construction and the Department of Urban and Housing Development.
Credit :Daily Eleven
Translated by: iMyanmarHouse.com
