Property Rights in Bukahyeon 1-1 District, Seodaemun-gu to Become Freer

Seodaemun-gu Completes Approval for Completion and Ownership Transfer Notice of Bukahyeon 1-1 Housing Redevelopment Project Featuring ‘Hillstate Sinchon’ Apartments on the 14th

Following Completion Approval and Transfer Notice, Individual Registration Enables Sales, Loans, and More

Seodaemun-gu (Mayor Lee Seongheon) announced that as of the 14th, the approval for completion and ownership transfer notice for the Bukahyeon 1-1 Redevelopment Promotion Zone housing redevelopment project, where the ‘Hillstate Sinchon’ apartments are located, has been finalized.

The Bukahyeon 1-1 district (around 1-954 Bukahyeon-dong) consists of 15 apartment buildings with a total of 1,226 households.

Since the usage inspection (usage permission before completion approval) in August 2020, the project had not received completion approval for over three years due to the need to supplement maintenance infrastructure such as roads and green spaces within the district.

Due to the resulting lack of registration, residents faced difficulties exercising property rights such as sales and loans, but this issue has now been resolved with the recent measures.

Lee Seongheon, Mayor of Seodaemun-gu, stated, “We will continue to actively consult with project stakeholders and provide administrative support to ensure that redevelopment projects in the area proceed swiftly.”

He also added, “To promote rapid and smooth redevelopment, we will make every effort, including regularly holding fair meetings between the district office and the association (promotion committee).”

This content was produced with the assistance of AI translation services.