Contributions to compensation fund to depend on price of shared construction participation agreement
The amount of insurance contributions of developers to the compensation fund of equity holders will be evaluated in accordance to a percentage of the price of shared construction participation agreements (DDU), says Nikita Stasishin, the director of the Department of Housing Policy of the RF Ministry of Construction.
According to him, today the percentage is calculated from the cost of construction and installation works specified in the project declaration.
“The prepared changes imply the percentage calculation from the cost of shared construction participation agreements,” said Nikita Stasishin to the RIA Real Estate.
Earlier on Monday, the Head of the Ministry of Construction Mikhail Men said that real estate investor’s compensation fund will operate under the control of the Housing Mortgage Finance Agency.
Nikita Stasishin also added that it is going to be the non-profit enterprise “Fund of the unified institution of development in the housing sector”.
Earlier, the Russian President Vladimir Putin during a meeting of the State Council allowed the possibility of establishing a state compensation fund to address the needs of hoodwinked investors. This provision was included in the package of amendments to the law on the shared construction #214-FZ, which Putin has signed in early July.