Arya News - U Kyaw Min Htet, while submitting the proposal, said that the prices of the apartments were collected in advance from the time the foundation was dug before construction began, and the construction of the buildings was carried out with the payments of the apartment buyers.
YANGON – A motion urging the regional government to draft a law on high-rise apartment complexes other than condos in Yangon Region was submitted by Kyauktada Township Representative No. (2) U Kyaw Min Htet on the fourth day of the third regular session of the third Yangon Region Hluttaw held today (August 18).
In the densely populated Yangon Region, landowners are building high-end apartments on their land in collaboration with construction contractors and reselling them as homes for other people to live in. During the initial construction period, the landlord and contractor signed a contract and worked together to sell the apartments to the public, but since the construction began, they did not seek permission from relevant departments and did not follow regulations during the construction period, so they did not receive a BCC for occupancy. Due to the lack of responsibility and accountability between the landlord and contractors for the apartments they sold, buyers who had paid in advance are suffering, said U Kyaw Min Htet, while submitting the motion.
U Kyaw Min Htet, while submitting the proposal, said that the prices of the apartments were collected in advance from the time the foundation was dug before construction began, and the construction of the buildings was carried out with the payments of the apartment buyers. However, due to the lack of responsibility and accountability of some contractors and landlords, some buildings were not habitable for a long period of time, and the apartment buyers were also suffering, he said.
“There are legal procedures for paying compensation if the property is not delivered within the specified time period in condo buildings, but we have not established specific legal procedures for high-rise apartment buildings that are not condos, so we have found that the public is suffering,” said U Kyaw Min Htet.
He also said that sometimes, if apartment buyers are not satisfied with the contract or landlords who have received room prices in advance and want to take action, they have to file lawsuits in the relevant courts based on the contract, incurring unnecessary court costs and suffering twice as much pain.
“Sometimes, due to loopholes in the contract, those who have made advance payments end up losing both the snake and the child,” said U Kyaw Min Htet.
He said that the law needs to be drafted after receiving suggestions from many people, including the Yangon City Development Committee, the Myanmar Construction Entrepreneurs Association, the Real Estate Service Entrepreneurs Association, landlords and residents, and that this is why it is being presented as a proposal.
He said that this law will clearly define the rights, responsibilities, and entitlements of landlords, apartment owners, residents, construction entrepreneurs, and managers, and will also help in compiling an accurate and robust property inventory for future urban security and law enforcement, and encourage the state to receive more taxes.
He said that this law will protect property legally, generate taxes for the state from apartment sales, and prevent money laundering by controlling and monitoring the flow of illegal funds into the apartment purchase market.