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1.18m Iranian families receive low-cost Mehr houses

Source: Mehr News Agency, Tehran

The administration of President Mahmoud Ahmadinejad has handed the keys to over 1.18 million low-cost houses to applicants under the Mehr Housing Project, the transport and urban development minister announced on Friday.

Mehr housing units in Kashan, central Iran

Of the 2.18 million Mehr houses under construction, over 1.18 million have been completed and given to applicants, Ali Nikzad said.

He said the other one million residential units will be completed by the end of the current Iranian calendar year (March 20, 2014).

According to the final results of the 2006 National Population and Housing Census of Iran, there were 17.3 million families in Iran, while the number of houses was 15.7 million, Nikzad added.

Based on the 2011 census, 21.2 million families lived in the country, while 21.6 million houses had been constructed, he further said.

He also said during the past eight years, 2.12 million rural houses have been renovated to withstand earthquakes.

The administration has been implementing the Mehr Housing Project in different parts of the country to build millions of residential units and stabilize housing prices.

Under this plan, real estate developers are offered free parcels of land in return for building cheap residential units for first-time buyers, who receive 99-year mortgages for the purchase of the land.

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