Re-designation of Land Transaction Permission Zone in Hanam Gyosan Public Housing District

Hanam City, Gyeonggi Province (Mayor Lee Hyun-jae) announced on the 20th that, according to the "Ministry of Land, Infrastructure and Transport Announcement No. 2024-1729," the land transaction permission zone of 18.09㎢ will be re-designated as a land transaction permission zone from the 26th of this month until June 30, 2025.

Re-designation of Land Transaction Permission Zone in Hanam Gyosan Public Housing District (Topographic Map of Land Transaction Permission Zone in Hanam-si, Gyeonggi-do). Provided by Hanam-si.

The area re-designated as a land transaction permission zone includes the Hanam Gyosan Public Housing District and its surrounding areas, which were previously designated by the Ministry of Land, Infrastructure and Transport until December 25, 2024. This includes the entire areas of Deokpung-dong, Sinjang-dong, Changwoo-dong, Cheonhyeon-dong, part of Chungung-dong, Gyosan-dong, Hang-dong, Sangsachang-dong, and Hasachang-dong.

With the re-designation of the land transaction permission zone, contracts transferring ownership or superficies rights related to land must obtain permission for land transaction contracts. If a contract is made without permission or permission is obtained through fraudulent means, a penalty of imprisonment for up to two years or a fine of up to 30% of the land price based on the individual publicly announced land price at the time of contract conclusion will be imposed.

A Hanam City official stated, "We will make every effort to carry out the land transaction contract permission work to prevent rapid land price increases and speculation concerns in the area and to stabilize the real estate market."

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