Getting construction permits are simplified for developers with escrow accounts
The Ministry of Construction is planning to simplify the procedure for obtaining permits for developers who have switched to project financing, said Nikita Stasishin, deputy minister of construction and housing and public utilities.
“We saw that there could be several houses in one building permit, and in order to secure a pledge when receiving project financing for a new house, the developer would have to change the permitting documentation, transfer such houses to the SPV from the parent company. In order for the developer not to run again in a bureaucratic machine, we need to do it in a simplified timeframe, ”said Nikita Stasishin.
Source: RIA News