Estimate norms in construction to be updated quarterly

20.07.2016

The estimate norms used to calculate the cost of construction projects financed by the state will be updated on the results of quarterly monitoring, said the Minister of Construction Mikhail Men.

According to him, this year the President of Russia endorsed the law №369-FZ on amendments to the Construction Code and the law on investment activities in the Russian Federation in the form of capital investment, which are actually reforming the system of pricing and costing standards in the country, reports RIA – Real Estate.

As explained by the Minister, the input method will be introduced instead of index method of forming the estimate norms. “The index method is outdated, it does not take into account rise in inflation,” said Mikhail Men.

The Head of the Ministry of Construction said that the new law introduces “the exclusive right of the Russian Federation for the database of estimate norms.”

In addition, he drew attention to the fact that the law establishes mandatory use of estimate norms included in the Federal Register in construction of facilities at the expense of federal, regional and municipal budgets, as well as by public corporations, more than 50% state-owned legal entities.

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