Peru's Sunarp Streamlines Urban Development Approvals for Faster Property Transactions

Peru's National Superintendency of Public Registries (Sunarp) has modernized its services by introducing the provisional annotation of urban development projects. This change allows for the public advertisement of municipal licenses for these projects, significantly speeding up the process of buying land. Buyers now receive early guarantees without waiting for construction completion, enhancing predictability and simplifying urban habilitation procedures nationwide.

Previously, real estate developers and buyers often had to wait until construction was finished to register individual lots with Sunarp. This delay limited access to crucial registration information and postponed property rights acquisition. The new system requires only an approved Urban Habilitation License from the municipality to initiate a provisional annotation on the main property record, regardless of the project's specific type. This reform offers tangible benefits, including direct access to project progress information for buyers and investors, enabling pre-registration of lots, facilitating progressive property valuation, and mitigating fraud risks in land sales.