An announcement about the sale of apartments on preferential terms at the Hovsan Residential Complex – the next project of the State Housing Development Agency

Sale of apartments at the Hovsan Residential Complex located at 22, 12th Kilometre of Zygh Highway-Airport, Hovsan settlement, Surakhany district of Baku city - 27 apartments on Building No.1, 96 apartments on Building No.2, 242 apartments on Building No.3, and 137 apartments on Building No.4, altogether 502 apartments – will start at 11:00 a.m. on September 10, 2020, to continue until 11:00 a.m. on September 19, 2020.

Selection of apartments in the order of waiting in accordance with the “Rules of acquisition by citizens of apartments being at the disposal of the State Housing Development Agency of the Republic of Azerbaijan on preferential terms”will start at 11:00 on September 14, 2020, to continue until 11:00 on September 19, 2020. 

Acquisition of apartments being at the disposal of the State Housing Development Agency in accordance with Order No.1113, dated November 16, 2016, of the President of the Republic of Azerbaijan will be carried out via the system “Affordable Housing” over the portal “Electronic Government”(www.e-gov.az).

Only those citizens who have obtained an electronic cabinet in the system “Affordable Housing” are eligible to acquire an apartment. Regardless of the date and serial number, all citizens who have obtained an electronic cabinet have equal rights in selecting apartments.

Detailed information regarding the rules of using the system “Electronic Government”, including instructions in the form of text and video, may be obtained via the link “Affordable Housing System” on homepages of the websites www.mida.gov.az and www.mida.az.

 General information about the apartments put to sale:

502 apartments are put to sale, altogether. All apartments are offered with the interior finishing work completed, provided with a kitchen furniture and an individual heating system (including the heating device), as well as water, gas and electricity meters installed. 

The building has been designed and constructed to meet the State Construction Norms of the Republic of Azerbaijan. To confirm this, the State Expert Examination Central Department under the State Agency for Supervision of Construction Safety of the Ministry of Emergency Situation issued a positive opinion under No.24956, dated 28.02.2018 and No.25318, dated 08.05.2018 

“Excerpts from the state register of immovable property on state register of rights” were issued by the Baku Territorial Debarment No.1 of the Immovable Property’s State Registration Service under the State Committee for Property Issues of the Republic of Azerbaijan. 

 

Building №

Land plot of

the building

(m²)

Number of floors

Number of enterance

Number of

rooms

Number of

apartments

Area of apartments

on inner perimeter (m²)

Area of apartments

outside perimeter (m²)

General contractor / address

Date of completion of

construction and installation

and repair works

1

7076,02

7

18

2

21

50.6 - 58.5

61.48 - 71.26

“HN Construction” LTD (2nd section of the building) /

14/185, Binagadi highway, Binagadi district, Baku city 

29 December 2019

3

6

67.2

84.9 - 84.95

2

7076,02

7

18

1

25

37.8 - 39.2

47.7 - 49.96

“NN Group” LTD/

47/41, Tbilisi avenue, Yasamal district, Baku city 

02 January 2020

2

71

50.6 - 68

61.54 - 83.52

3

7076,02

7

18

1

40

37.9 - 39.2

47.7 - 49.96

“Huner-Inshaat” Company

(1st, 2nd and 3rd sections of the building) /

63/97, Ganja avenue, Khatai district, Baku city;

 “Hovers Group” LTD (4th and 5th sections of the building) /

73, Abbas Sahhat street, Nasimi district, Baku city 

29 December 2019

2

184

50.6 - 63.1

61.48 - 78.56

3

18

67.2 - 73

84.9 - 88.15

4

7076,02

7

18

1

14

38.5 - 38.6

47.7 - 48.75

“K.E.-Inshaat” LTD (1st and 2nd sections of the building) 

122, Sharifzadeh street, Yasamal district, Baku city;

  “Accord Industrial Construction Investment Corporation” OJSC (5th section of the building) /

Block 1937, Agha Nematulla street, Narimanov district, Baku city

29 March 2020; 29 December 2019

2

101

50.6 - 69.3

61.48 - 84.11

3

22

67.2 - 73.3

84.39 - 88.15

 

Sale terms and prices:

Sales of apartments within this announcement are provided both by paying the cost of the apartment using a mortgage credit and using own cash.  

Note:  In accordance the “Rules of acquisition by citizens of apartments being at the disposal of the State Housing Development Agency of the  Republic of Azerbaijan on preferential terms”, Item 5.6, only a person who has obtained a preliminary consent and placed it on the electronic cabinet may choose the payment method through a mortgage credit.

Price of a one-room apartment – starts from 32 130 Manats,

Price of a two-room apartment – from 43 010 Manats,

Price of a three-room apartment – from 57 120 Manats.

Note: Sale prices of apartments are inclusive of VAT.

In case a citizen acquires an apartment at the cost of a mortgage credit of the Mortgage and Credit Insurance Fund of the Republic of Azerbaijan on preferential terms:

Annual interest rate

Term

Minimum down payment

Monthly payment*

1-room

2-room

3-room

4%

3-30 years

10%

138-143 manats

185-253 manats

245-268 manats

* Monthly payment – in case an apartment is acquired using mortgage credit on preferential terms by making 10% preliminary payment, for 30 years, with annual 4% interest.

ATTENTION! A person who wants to own an apartment using a mortgage credit on preferential terms will be granted discount depending on the amount paid in excess of the preliminary minimum payment, and, as to those who pay fully the cost of the apartment using their own cash at once, such citizens will be granted 10 percent discount on the whole amount. 

Sale of apartments for citizens willing to own an apartment by paying the cost of the apartment at once at their own cost start from the following prices:

 

Number of rooms

Price of apartments

(manats)

Additional discount amount

(manats)

Sale price of apartment 
after additional discount

(manats)

1

32 130 

3 213

28 917

2

43 010

4 301

38 709

3

57 120

5 712

51 408

Note: Sale prices of apartments are inclusive of VAT.

Entering the website of the Hovsan Residential Complex at www.hovsan.mida.gov.az, information may be obtained about the precise sizes of each apartment (including rooms), its price, concessions applied and additional discounts, agent banks, as well as do necessary calculations using mortgage and affordable  apartment calculators.

Citizens eligible to acquire an apartment at a preferential price may receive detailed information about the rules of submitting application to own an apartment on preferential terms, selection of apartments in the order of waiting and sales conditions of apartments, as well as agent banks on the websites www.mida.gov.az and www.mida.az , or by applying to “ASAN Service” centres (No.1, 2, 3 and Sumgait and Ganja), or “108” Call Centre.

More detailed information about the apartments put to sale may be received via the following links: 

Apartments put to sale in Building No.1.

Apartments put to sale in Building No.2.

Apartments put to sale in Building No.3.

Apartments put to sale in Building No.4.

 

Note: Users of the system “Affordable Housing” may become acquainted with the instructions on the use of the sale module and selection of apartments in the order of waiting in relevant sections of their electronic cabinets, or via the following links:

State Housing Development Agency of the Republic of Azerbaijan

© 2021