YESTERDAY, the Council of Ministers approved six bills concerning reforms to the legal framework governing building permits and the issue of Title Deeds.
In a statement made after the meeting, spokesman for the Cyprus government Stephanos Stephanou said that the six bills aim to solve the problem of Title Deeds and that the improvements will also bring respectable revenues to the state.
“The bills will be submitted to Parliament tomorrow (Thursday) and all the necessary procedures will be followed”, he said.
On the question whether this approval is linked to the urban planning amnesty, Mr. Stephanou said that it includes the urban planning amnesty too.
“Further details of the bills will be released by the Interior Minister. The Interior Ministry has been working on this complicated issue for year and a half”, he added.
Mr. Stephanou also outlined that the bills have been formed in an open way with the use of modern technology in the sense that the proposals were on the Internet.
Responding to questions, Mr. Stephanou said that the state revenue largely depends on the number of the Title Deeds that will be issued.
In a statement last November, the Cyprus Interior Minister Neoclis Sylikiotis said “If you assume an average €8,000 charge to complete the issue of the final Title Deed and considering that we expect 20,000 units to be processed through 2010, then it’s safe to assume that the government could receive up to €160 million next year alone, plus more revenue in the following years.”
An estimated 130,000 units (houses, flats, hotels) in Cyprus are currently without Title Deeds.