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Favela residents receive home titles

SANTA CRUZ (BDCi) – Authorities announced that 719 residents were given the property rights to their homes in the favela communities of Comunidade Camarão and Nova Camarão, part of a plan to cover 23 percent of the favelas in Rio de Janeiro.

The communities are located in the West Zone of Santa Cruz, about 37 miles away from Centro Rio.

The title of property means the residents have legal certainty for their homes. It also allows them to have an address recognized by the courts and will help them get a credit card.

In addition, the residents now also have a valued property asset in the market.

Authorities announced last December that 103,000 (or 23 percent) of the favela homes were in the process of regularization and that it will take several years to complete.

About 4,000 titles are expected to be delivered in Jacarepaguá, also located in the West Zone.

By: Diego Díaz Source: International Business Times Photo: Google 10 July 2014

09:55 a.m. P.D.T.

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