To promote renovation of exteriors and to adapt Iranian-Islamic architecture, in the second half of the year (September 23, 2014 – March, 20, 2015) $3,700 is being allocated to owners who plan to redo and renovate their building facades.
In this year’s real estate market “not too many property purchase transactions were registered and the stagnation particularly looms in distressed areas,” Abdollah Fathollahi, head of the Renovation Organization at the Tehran Municipality said, ISNA reported.
Due to the sluggish state of the market, the organization has suggested that neighboring parcels in distressed areas, if merged would create an overall larger area of at least two hundred square meters; they will receive approximately $3,700 for the renovation process. Another reason for the complimentary packages “is to adapt Islamic-Iranian architecture designs in exteriors.”
Those who have officially filed their requests at the certified offices will also receive part of the electronic services free of charge, the official noted.
The plan is to help the Tehran Construction Engineering Organization and loans and subsidies will be allocated with hopes to jump start the real estate market, he said, adding that the municipality and the government have taken serious steps to renovate old buildings.
