Land Transaction Licensing System Implemented in Songduk-dong, Jowon-dong, and Sangkwanggyo-dong Areas

[Suwon Ilbo=Reporter Seo Dong-young] Jangan-gu, Suwon City will operate a land transaction licensing system for two years until December 27, 2022 for '11 parcels (224,797 ㎡) in Songduk-dong, Jowon-dong, and Sangkwanggyo-dong areas,' which have been newly designated as land transaction licensing zones.

To conclude a land transaction contract for real estate (including land and housing acquisition transactions) within a land transaction licensing zone, approval must be obtained from the licensing authority. The land transaction licensing zone designated on July 4 last year covers '141 parcels (3,847,482 ㎡) in Pajang-dong, Sangkwanggyo-dong, and Hakwanggyo-dong, Jangan-gu, Suwon City.'

In accordance with Article 26 of the 「Real Estate Transaction Reporting Act」, those who conclude a transaction contract without obtaining permission will be subject to imprisonment of up to two years or a fine of up to 30 percent of the land price, as prescribed by law.

Required documents for land transaction licensing applications can be found on the district website (Information by Category–Real Estate). For more information, contact the Comprehensive Civil Affairs and Land Management Division, Jangan-gu (031-228-5478).