Developers to make deposits to compensation fund since 2017
Deposits from developers to the compensation fund of shared construction will start to arrive since the next year. Its volume can reach a quarter of a trillion rubles per year, said the Minister of Construction of Russia Mikhail Men.
“According to our estimates, the fund will be able to collect at least 15-25 billion rubles a year,” said Mikhail Men.
He noted that formation of the fund will not mean increasing the cost of housing for citizens – participants of shared construction projects.
The state compensation fund is designed to replace insurance companies that operate in the market of shared construction.
The amount of payments will remain the same – 1% of the cost of equity participation agreement (DDU). However, developers will transfer this money not to the insurance companies but to the state fund that will make this process transparent.