EghtesadOnline: As per a memorandum of understanding recently signed between Iranian Municipalities Organization and Urban Regeneration Corporate Holding Company, affiliated to the Ministry of Roads and Urban Development, building permits in slum areas will be granted free of charge.
According to Deputy Roads Minister Mehdi Obouri, earlier, builders who intended to build residential properties in slum areas were entitled to a 50% discount in permit fees.
The current MoU offers 100% exemption in permit costs.
“Fifty percent exemption in architectural and engineering expenses has also been envisioned in an agreement signed between Iran Construction Engineering Organization and the Interior Ministry’s Development Department to encourage home owners in slum areas to rebuild their homes,” Obouri was quoted as saying by Iran Online.
For each residential property in large cities, licensed mass builders will qualify for loans worth 2.3 billion rials ($12,994) that require no down payments or initial deposits: they include a 500-million-rial ($2,824) loan at the interest rate of 9% and a 1.8-billion-rial ($10,169) loan at the rate of 18% with a repayment period of 120 months.
Self-builders will be offered two loans worth 500 million rials ($2,824) at the interest rate of 9% and 18% and a 400-million-rial ($2,259) loan at an interest rate of 4%.
Director General of Roads and Urban Development Organization of Tehran Province says 4.5 million people of the province live in decrepit suburban areas.
"Nearly 30% of the population of this province live in rundown and slum areas; there would be no place to shelter these people in case of a hypothetical earthquake," Khalil Mohabbatkhah was also quoted as saying by IRNA.
“Eighteen percent of the Iranian population live in Tehran Province while it has 500 vulnerable, worn-out suburban areas.”