“YSU Graduate Union” NGO, under the high patronage of the RA President, “YSU Graduate Union” NGO Chairman of Board of Trustees S. Sargsyan launches the social project “Affordable housing for young scientists and members of the creative unions”.

The address of the new multi apartment building is Yerevan, Azatutyan Avenue 26 adjacent area (the neighboring area of the Institute of Cardiology). The prices will be much lower than the market ones, available to young researchers and members of the creative unions of Armenia.

Residential complex provides with single, double, triple and four bedroom flats. The total amount of the apartments is 210. The price of 1 square meter is 184.000 AMD.

Residential complex construction will start on September 30 of current year and will be completed by November 30 of 2012.

The building is of monolithic multi-reinforced concrete with basalt and felsitic external covering. It has 11-13 residential floors. Single bedroom apartments have up to 45 square meters area, double bedroom apartments - 50-65 square meters area, three bedroom apartments - 75-90 square meters area and four bedroom apartments - 100-120 square meters area (open kitchens are included).

The complex will have six entrances, each equipped with three elevators, one freight and two passenger and underground parking for 150 vehicles. 
A sports ground for children together with garden will be built, too. 
The first floor of the building will be allocated for public service areas (shops, exhibition halls, etc.).

The apartments in details

Apartments are covered with parquet.
Bathroom is covered with tiles.
The internal division of the apartments is realized according to the residential building architectural general draft.
The interior of the apartments is realized according to the variants, suggested by the constructing company and is chosen by the resident.
The color of walls is chosen from the variants suggested by the company by future resident.
The entrance door is a metallic one; the inner doors of the apartments and parquet are made of rye.
The windows are made of metal-plast.
The electrical installations are realized according to the electro-installation draft of the building.
Electric nodes are installed.
The heating system installation accomplished without the equipment.
The bathroom floor heated.
The building is gasified.

The apartment acquisition price payment through hypothec credit 

Payment of the value of housing through mortgage lending is the following: 
20% deposit, 20-year repayment period, up to 10% annual interest rate, annuity repayment schedule, the real estate pledge.


The payment procedure in cash

If the customer prefers cash payment according to the signed preliminary purchase contract the following payment procedure is defined:
- Pre-payment of housing purchase after signing the preliminary contract within 15 days in the extent of 30 percent of the cost,
- First interim payment of housing purchase after signing the initial agreement within 8 months in the extent of 30 percent of the cost,
- Second interim payment of housing purchase after signing the initial agreement within 16 months in the extent of 25 percent of the cost,
- Final payment after signing of the act on the housing acceptance within 7 calendar days in the extent of 15 percent of the cost.


Through the equal distribution of value 

The customer may also pay the housing cost in accordance with the approved schedule, according to the contract, during the entire period of construction by paying the money in equally distributed manner.


Possible customers of the project may become the Republic of Armenia National Academy of Sciences young scientists (under the age of 35) and the Republic of Armenia creative unions’ members, who face the housing problem.

At the same time, the possible customers of the project can become the individual creators, who are not members of creative unions, but are actively involved in the artistic, literary or cultural life of the Republic of Armenia. They should present the recommendation, given by the creative unions.


The documents required to be included in the target group of share holders: 

An application-description on the need of housing, addressed to the Chairman of “YSU Graduate Union” NGO. The square meter preference should be mentioned here by all means
The application form
The applicant's passport copy
A certificate on the membership in any of the creative unions of the Republic of Armenia (this requirement is for the members of the RA creative unions)
A reference on the position, given by the employer (this requirement is for young scientists)
A document certifying the applicant’s scientific degree or the copy of the document which certifies that the applicant is a PhD student currently (this requirement is for young scientists)
A reference from the RA State Cadastre Committee Information Center (Yerevan, Komitas av. 35/2) certifying about the private property of the share holder on the territory of the Republic of Armenia

Housing distribution will be implemented through the public draw, organized by “YSU Graduate Union” NGO.

Regarding various issues, related to the social housing project, please contact "YSU Graduate Union” NGO Legal Counsel Armen Tadevosyan (tel. (+37410) 55-19-91).

To endorse the request of a number of scientists and artists, "YSU Graduate Union” extended the deadline for the applications until September 5, 2010.

You can download the application form from the website’s "Project News" section.