Honor: 220,000 Housing Units for the Underprivileged to Be Built Across the Country

Khomeini Shahr – The Director General of Capital Procurement and International Affairs of the Islamic Revolution Housing Foundation announced plans to build 220,000 housing units for the underprivileged.

Khomein - Director General of Funding and International Affairs of the Islamic Revolution Housing Foundation announced plans to build 220,000 housing units for the underprivileged.

According to Mehr reporter, Mohammad Hossein Iftikhar said at the meeting to review the construction of housing for Khomein workers on Tuesday afternoon: The Housing Foundation intends to encourage industries and benefactors to participate in the construction of housing for the disadvantaged and low-income workers by creating incentive mechanisms.

He added: 155,000 units, equivalent to 73%, will be built in rural areas and 65,000 units in urban areas.

The director general of capital provision and international affairs of the country's housing foundation stated that the legal framework of this partnership is foreseen in paragraph "x" of article 20 of the law of the 7th progress program and continued: In this regard, the tax credit permit has been obtained from the program and budget organization and the possibility of concluding a memorandum of understanding between the housing foundation and industries or benefactors is available.

Iftikhar clarified: Based on this mechanism, the agreed financial resources will be deposited into the Housing Foundation account, and after confirming the physical progress of the project, the relevant tax credit will be issued to the participating group; An approach that can increase the motivation of economic enterprises to invest in housing for the underprivileged.

Emphasizing on the priority of getting low-income workers home, he added: Workers from the first to fourth income deciles are among the target groups of this plan, and the Housing Foundation is ready to provide a facility of five billion Rials with an interest rate of four percent and a 20-year repayment period to eligible applicants.

The director general of capital provision and international affairs of the country's housing foundation said: In addition to these facilities, a grant of up to two billion rials is also planned to support the provision of housing for this group in order to reduce part of the initial costs of their housing.

Iftikhar announced the possibility of using land belonging to industries in the implementation of this plan and stated: if there is suitable land, it is possible to change its use to residential and include the value of the land as included in the tax credit calculations; A capacity that can reduce part of the cost of land provision and provide the context for the implementation of projects.

He emphasized: the projected credit for this year is about 10 thousand billion rials and it must be absorbed in the next month; Because the delay in providing resources limits the possibility of making proper physical progress of projects by the end of the year.

Iftikhar said: "Using the capacity of industries, philanthropists, and new funding tools can accelerate the process of implementing housing projects for the underprivileged and provide the basis for wider participation of various sectors in providing shelter for the low-income classes."