What are the government guaranteed residential projects and what are their importance?


What does it mean for a project to be guaranteed by the government?

This basically means that the project is being constructed jointly by the governmental sector presented by its construction companies and the private sector presented by implementing construction companies.

The land property belongs to the Turkish government which assign it to a construction company to do the construction work of the project. The governmental company handle the marketing and selling responsibilities for such projects.

Advantages of buying in a project guaranteed by the government:

  • The guarantee includes insuring that the project is being built as planned and the construction is fully completed with the title deed properly handed over.
  • The guarantee is made official by signing a notarized contract with the governmental company in charge.
  • The monthly installments are made by transfers made directly to governmental bank accounts.
  • The project area will be supported with many services such as schools, public transportation, hospitals and many more.

How to buy in a governmental project?

  1. The buyer thoroughly previews the real-estate, blue prints, location and view before making the buying decision.
  2. The desired real-estate is reserved and the buyer will go directly to the main office of the governmental company in charge.
  3. A notarized contract between the buyer and the governmental company is signed and the first payment is to be transferred. Afterwards, the real-estate is handed over and the monthly installments will continue to be transferred as scheduled.
  4. You can benefit from the annual discounts that is available twice a year with discounts up to %35 from the total amount of installments.

Types of contracts in guaranteed projects:

Direct contract:

These contracts are made directly between the buyer and the governmental company and makes the buyer the first direct owner of the property. However, you can’t get long term installment which available only to Turkish citizens.

Waivered contract:

This contract is used when buying from a Turkish citizen who waivers his/her original contract to the buyer and therefore his installment plan will be transferred as well (normally with the duration of 10 to 20 years).

The most renowned governmental construction companies:

There are two highly active governmental construction companies in the construction field:

  • Emlak Konut.
  • Toki.

Who is Emlak Konut?

[/vc_column_text][vc_single_image image=”4561″ img_size=”full”][vc_column_text]It’s one of the biggest real-estate development company in Turkey, it has been established in 1987 and belongs to the Administration of Urban Development. Between the years of 2003 and 2017 it has constructed 130,000 residential units within 132 projects.

Emlak Konut has a positive impact and an immense contribution by means of finding remarkable investment opportunities with high quality and credible projects in a variety of domains (residential, commercial and others). In addition, Emlak Konut has proven its ability to build complete cities which was evident in the areas of Başakşehir and Ataşehir which became one of the most important and highly desired residential areas in Istanbul thanks to the projects it had executed.

You can visit the official Emlak Konut website by clicking here.

Some of the most important standards for Emlak Konut:

  1. It will not approve a project that is not in compliance with the law and legislations.
  2. Emlak Konut takes human-centered concept and comfort living as a priority in the preparation of projects and It aims to be at the highest levels in all living spaces.
  3. Emlak Konut, will not approve the sale in a project without having proper construction permits and all the necessary approval certificates.
  4. Emlak Konut will check the validity of all the materials such as promotional catalogs, advertisement films, newspaper advertisement and samples.
  5. Before using any material it tests them according to international standards (TSE,CF etc.) so that only appropriate materials are used.
  6. It makes 5-dimensional modeling of all buildings and demands dynamic analysis of buildings in case of the most severe earthquakes.
  7. All the contracts signed with Emlak Konut are made with the presence of an official notary with the annexation of all required documents and supporting files to avoid any question marks or gaps after sale.
  8. Before the final delivery, Emlak Konut will re-examine and check for the suitability and quality of every part of the completed construction.
  9. After the %100 completion of construction, the Servitude Deed, Occupancy Permit (settlement) and Property Ownership Deed are issued and registered.
  10. It makes a definite acceptance of the project under the supervision of an expert team at least 1 year after life starts in the project.

Who is Toki?

[/vc_column_text][vc_single_image image=”4564″ img_size=”full”][vc_column_text]In the Turkish language Toki stands for the General Directorate of Collective Housing (Toplu Konut Idaresi), it was established in 1984 with an indepemndent financing from the state budget. İt’s a part of the govermental sector in turkey and based on the idea of joint business with the private sector in order to solve the housing issue resulted by the rising population in Turkey. In addition, it aims to establish new massive residental projects with atractive features at the boarders of main cities to reduce the residental congestion in them. Moreover, Toki ensures providing what is necessery to have a solid ifrastructure in in order to offer comfortable and high quality life style.

Despite of the precondition of exclusivity of Toki projects to Turkish citizens, you can benifit from its project by purchasing it from a Turkish citizen.

You can visit the official Toki website by clicking here.

Advantages of investing in Toki projects:

  • The affordable prices.
  • The ability of re-selling the property with considerable profit.
  • The distinctive surrounding of its projects.
  • It promots long-term real-estate investments.