Local government significantly overstated the value of the land to developers

24.10.2013 01:00
Articles about real estate | Local government significantly overstated the value of the land to developers In many Ukrainian cities there is a strange approach of the local authorities to the definition of the normative evaluation of land plots are leased under construction.
About this IAP «Capital real estate» said Angelica Штукатурова, lawyer of the Kiev office of the international law firm base of the new firm. «Often the developer with the project at the initial stage, when only starts to build, obtains a normative assessment of land with a factor of 12. It turns out that 5 years of such rent actually paid the full price of this plot,» said the lawyer.

Related article: Monetary valuation of land held by 95% of the area

Such «appetites», warns expert, can lead to the fact that want to build something will be much less: «I understand that you need to fill the budgets, but if you put the maximum rate of rent for the land, then after a year or two the number of those wishing to build a large objects drastically reduced, since developers are now very difficult to attract funds, free money almost no». Let's remind, for 9 months of the last year in Kiev, gathered nearly 50 million UAH for the land tax.
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Content tags: land
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