The desired guarantee in urban transformation has decreased.

The Ministry of Environment, Urbanization and Climate Change has made changes to the implementation regulation of Law No. 6306.

According to the information published in the Official Gazette, the phrase "% 10'u" in the ninth paragraph (c) of Article 13 of the Implementation Regulation of Law No. 6306 has been changed to "% 6'sı".

GUARANTEE RATE HAS DECREASED

According to the amendment, if real and private legal entities are carrying out activities on parcels where risky buildings are located, it has become mandatory for the construction contractor to provide a guarantee of 6% of the approximate cost of the building to the Administration before obtaining the building permit.

However, if the parcel owner is constructing their own building in structures that are at most two stories and do not exceed a total construction area of 500 square meters, except for one basement floor, the requirement to provide a guarantee of 6% of the approximate cost of the building at the stage of obtaining the building permit will not be sought, provided that no sales are made to third parties before the construction is completed and a notation is made in the title deed regarding this matter.