The lease period of urban land in Moscow has been increased
The maximum rental period for urban land plots provided to investors at auction for the construction of all categories of real estate objects has been increased by 1.5-2 times, said Vladimir Efimov, Deputy Mayor of Moscow for Economic Policy and Property and Land Relations.
“According to the new rules, 15 months are allocated for the construction of an object with an area of up to 1.5 thousand square meters – land is leased for 30 months, 44 months are given for the construction of a building with an area of 10-20 thousand square meters, rent is provided for 88 months, and 79 months for a complex of buildings, rent for 158 months”, – said Vladimir Efimov.
According to the deputy mayor, the decision is due to the fact that since September the terms of engineering surveys, design and construction of buildings and structures have been increased.
“The total amount of rental payments will remain the same. New agreements with developers will begin to be concluded in the fourth quarter – from December 2020, – he said.
The deputy mayor recalled that in case of non-fulfillment of the terms of the construction stages, penalties are provided up to the termination of lease agreements unilaterally.
Source: RIA Novosti