The maintenance project for old planned cities, including the first-generation new towns, will be applied to an automated consent system. The process of collecting and verifying owner consent, which took about 5 months, is expected to be shortened to 2 weeks, allowing for a swift maintenance project.
The Ministry of Land, Infrastructure and Transport announced that the proposed enforcement ordinance for the 'Special Act on the Maintenance and Support of Old Planned Cities' was approved at the Cabinet meeting on the 19th. The enforcement ordinance will take effect on the 25th.
Accordingly, an automated consent method will be introduced for confirming ownership in the maintenance project of old planned cities. Previously, considerable time and expense were required to collect and verify written consent documents at each stage of the project; however, with the introduction of the automated consent method, the process is expected to be expedited. The time required to collect and verify consent documents for approximately 3,000 households, which previously took about 5 months, is expected to reduce to about 2 weeks.
The reasons for minor changes in the basic maintenance plan and special maintenance plan for old planned cities will also be expanded. The amendment stipulates that reflecting the allowable annual maintenance volume in the basic maintenance plan and including the results of integrated reviews in the special maintenance plan will be considered minor changes. Since this matter is decided after sufficient prior consultation, it is expected to enhance the administrative processing speed of local governments by omitting procedures such as consultations with relevant agencies and reviews by the local old planned city maintenance committee.
Jeong Woo-jin, head of the Urban Maintenance Planning Division of the Ministry of Land, Infrastructure and Transport, said, 'This enforcement ordinance amendment is intended to enhance the convenience of residents and local governments involved in the maintenance project of old planned cities' and noted, 'We will continue to actively support the swift and smooth execution of maintenance projects in key areas, including the first-generation new towns.'
During the Cabinet meeting, the enforcement ordinances for the 'Promotion of Housing Site Development Act' and the 'Special Act on Public Dwellings' were also approved. As a result, it is expected that housing construction projects will be promoted in a timely manner.
Previously, those who received land for the construction of multi-family dwellings could not transfer ownership before the registration of the transfer of ownership. However, through this amendment, it will be possible to transfer ownership to real estate investment companies (REITs) engaged in the construction and rental business of publicly supported private rental dwellings.
Additionally, even if it is not a real estate investment company for the purpose of renting publicly supported private rental dwellings, if 2 years have passed since the payment date of the remaining balance for the construction land or the contract date, it will be possible to transfer ownership temporarily below the received price for a year.
Park Jun-hyung, director of land policy at the Ministry of Land, Infrastructure and Transport, said, 'This amendment is expected to facilitate the timely transfer of land to businesses capable of advancing housing projects, leading to smoother housing supply.'