Hanoi authorities have issued support policies on resettlement apartments for households that have had their homes withdrawn for projects.
Resettlement apartment block in Nam Trung Yen urban area
Citizens in the cleared sites will get support if they want to buy resettlement apartments but compensation is smaller than the required payment.
Interest on the loans would be only 0.3% per month for a 10-year period, lower than even preferential rate for special cases.
After a compensation payout that would provide a deposit, a mortgage will be issued for a ten year period with preferential interest rate.
If they make full payment before the end of the ten year period, their house price will be reduced 10%.
When the house is fully paid, the Hanoi Management and Housing Development Company will co-ordinate with local authorities to provide land use right and house ownership certificates.
If the households can't pay for the apartment during the ten year period or if their installments are not fully paid two years in a row, they will have to rent the state-owned apartments.
The payments they make will be deducted from the rental fee. However, these households will not be granted preferential policies such as financial privileges for teachers.
Source : dtinews.vn