Why Urban Transformation?

Why Urban Transformation?

Our country is located in an earthquake zone, and unfortunately, 90% of buildings are not earthquake resistant.

We have learned firsthand that earthquake-resistant buildings that have reached the end of their useful life cause serious loss of life and property. With urban transformation, you can protect your family and loved ones from earthquakes, own new, comfortable, and safer homes, and benefit from government benefits. Urban Transformation Law No. 6306 entered into force on May 31, 2012, to transform earthquake-resistant and risky buildings into modern, aesthetically pleasing buildings that comply with current zoning plans, using incentives such as government loan support, tax and duty exemptions, and rental assistance, based on the requests of property owners.

WHAT IS THE MAIN PURPOSE OF URBAN TRANSFORMATION LAW NO. 6306?

The Urban Transformation Law aims to create healthy, safe, and livable environments by transforming disaster-prone areas and risky structures.

WHO CAN APPLY?

Any apartment owner who is required to have a risky building identified is eligible for application.

HOW DOES THE URBAN TRANSFORMATION PROCESS WORK?

For your building to be included in urban transformation, you must first obtain an "Earthquake Risk Report" from the Ministry's authorized institution. Once the Ministry approves the earthquake risk report, your building is considered part of the urban transformation program.

The Ministry will send an informational letter to all apartment owners.

Apartment owners who wish to do so may appeal to the Ministry for a review of the prepared and approved report. If the objection committee determines the building is at risk, the building must be demolished.

In this case, a stay of execution cannot even be obtained from the court.

Following this stage, a decision must be made within 60 days regarding how your building will be demolished, with which contractor, and under what conditions, and a "Building Joint Decision Protocol" must be finalized by a two-thirds majority regarding the use of the urban transformation loan.

If a decision cannot be reached within 60 days, the building will be demolished by the Ministry.

Following this, municipal plans for the new building must be prepared, a construction permit must be obtained from the municipality, and title deeds with occupancy permits must be obtained for the new apartments.

WHAT ARE THE ADVANTAGES OF THE URBAN TRANSFORMATION LAW?

Property owners can use state-subsidized urban transformation loans and urban transformation rental assistance for building construction.

Tenants can benefit from state-subsidized urban transformation loans and moving fees for new apartment purchases.