Azernews.Az

By Amina Nazarli

A master plan for the construction of the second residential complex in Hovsan within the social housing project will be completed in the near future.

Chairman of the State Housing Construction Agency (MIDA) Samir Nuriyev said that after approval of the master plan, preparation of the design work will begin.

A land plot of 20 hectares is allocated for the construction of the social housing in Hovsan, he said, noting that a total of 3,000 apartments are expected to be built here.

"We also plan to start designing of a school and a kindergarten," he added.

Nuriyev went on to say that the work on creation of a registration system for those wishing to purchase social housing is underway. The registration process will begin on May 1.

The State Agency for Housing Construction was established in April 2016. Currently, the agency is constructing a residential complex for a privileged category of the population in the Yasamal district of Baku, the construction of which will be completed in the middle of next year.

Nuriyev said that more than 20 private companies will take part in construction of social housing in Yasamal.

The project will provide more than 2,500 people with job.

"At the moment, construction of the third floor of the nine-story building and the second floor of the school is in progress, and construction of 15 buildings has started at the same time. This month we plan to start construction of seven more buildings," he said.

Speaking about prices, Nuriyev said that the monthly payment for the purchase of social housing in a mortgage will not exceed 300 manats ($180) for a three-room apartment, and 130-150 manats ($78-$90) for a one-room apartment.

Nuriyev also noted that the agency will try to fix the monthly fee for a one-room apartment at the level of 130 manats.

"The Azerbaijani Mortgage Fund (AMF) caries out a research every six months to determine the average market value of housing, and before the sale of social apartments we will use this data and try to ensure that prices are beneficial to people, both in terms of cash payment for buying on credit," he said.

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Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli

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