Home for Thais registration ends soon, housing lottery set for April
Registration for the Home for Thais initiative will end this month, with a property owner lottery scheduled for next month, according to Deputy Transport Minister Surapong Piyachote.
Since the project started on January 17, around 350,000 people have registered. However, fewer than half, approximately 140,000 applicants, have passed the initial qualification screening, making them eligible for housing loans from the Government Housing Bank (GHB) under the project’s criteria.
Registration for Phase 1 of the project will close this month. Due to the number of applicants surpassing the available housing units, a lottery draw will be necessary. The Government Lottery Office (GLO) will conduct this draw in April.
Following this, SRT Asset Co Ltd, part of the State Railway of Thailand (SRT) under the ministry, will hire a consultant to carry out an Environmental Impact Assessment (EIA) and prepare bidding documents for selecting contractors for the Phase 1 construction at four SRT sites.
The designated locations are Bang Sue KM 11 and Thon Buri in Bangkok, the Chiang Rak area in Pathum Thani, and Chiang Mai. The Home for Thais project will include condos ranging from 20 to 42 floors, except in Chiang Mai, where two-storey homes will be developed.
Phase one will see the construction of 5,700 units, while phase two will add 7,100 units, with a total of 100,000 units planned. Construction is anticipated to start this year and conclude next year. The government also intends to extend the project to other provinces, such as Nakhon Ratchasima, Khon Kaen, Chon Buri, and Kanchanaburi, in the future, reported Bangkok Post.
“The project is expected to be more advantageous to the SRT than leasing the land for commercial purposes, as the SRT will receive immediate land rental fees from each condo owner. The initiative is anticipated to provide economic stimulus, potentially helping to reduce the SRT’s billion-baht debt more swiftly,” said Surapong.
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