Thursday, July 27, 2017

Buyers snap up Labutta plots

More than 400 buyers have seized a chance to acquire plots of land in Labutta township, Ayeyarwady Division, which bore the brunt of Cyclone Nargis in 2008.

The sale of land is part of the effort by local authorities to develop the area in the wake of the disaster.

As of January, 420 customers had bought plots. “These 420 buyers have already paid cash and are building homes. It is a condition of sale that buyers must build a house on the land and live there. In exchange, they get a 30-year land lease grant,” said U Soe Lwin, a member of the Labutta district peace and development council, on February 1.

The plots are situated on the Labutta-Myaungmya road, three miles from Labutta itself, and are of 2400, 4800, 6400 and 10,000 square feet in size. They are priced from K500,000 to K2 million.

“The land is 10 to 30 feet above sea level to prevent flooding,” said U Soe Lwin, adding that the sale process had begun in January 2009.

“By October 2008 we had located a total of 2532 plots of various sizes for sale. Buyers were attracted by the fact that the land was flood-prof, and by the infrastructure,” said U Soe Lwin.

According to state media, the construction of township-level government offices, a police station, a 200-bed hospital, schools, a playground, a fire station, a highway complex and a port is going ahead.

Two-acre industrial plots are also on offer at K8 million per acre with supply of water, electricity and communications