Partial Completion of Seongnam Pangyo Daejang District 'Approved'... Residents Can Exercise Property Rights

Seongnam City Hall

Seongnam City in Gyeonggi Province approved the partial completion request from 'Seongnam Eutteul,' the project implementer of the Pangyo Daejang District, on the 30th, enabling residents to exercise their property rights within the year.

This partial completion corresponds to approximately 96.3% of the total area, and it is expected to relieve the restrictions on loans, lease contracts, and sales faced by commercial and residential property owners and apartment residents in the Daejang District, who had been constrained due to the lack of land registration.

Since June 2021, when residents began moving into the multi-family housing in Pangyo Daejang District, the project implementer submitted a construction completion report for partial completion to Seongnam City in May 2022. However, completion was delayed due to summer floods, forcing residents to endure limitations on exercising property rights and inconveniences in using public facilities.

A Seongnam City official promised, "With the announcement of the partial completion, we will promptly proceed with the handover of facilities to the respective public facility management departments to ensure that residents do not experience any inconvenience."

Some areas related to the undergrounding plan of the transmission towers on the northern side of the project district (scenic green space) will be completed after the project implementer fulfills the environmental impact assessment consultation requirements.

After the partial completion is finalized, cadastral records will be organized, and applications for land ownership transfer registration will be processed. Once registration is completed in the second half of the year, residents will be able to exercise their property rights.