Sergey Voronin: cadastral valuation should be revised
It is necessary to review cadastral valuation of land, said Sergey Voronin, CEO at Forum Properties.
“At present, this valuation is carried out every three years. The current valuation was performed three years ago, and it was rated at rocketing prices and high economic cost of projects. Now the projects in the center of Moscow operate in the red due to the land value. It is necessary to revise the cadastral valuation of land,” said Sergey Voronin.
He noted that administrative barriers today do not appear to be a critical point for the investment climate. A much more serious problem of Moscow, in the opinion of the expert, is that during the last 20 years the city lived off the land rentals.
“Now the rentals have drained. As a consequence, the city started active issuance of construction permits,” considered Sergey Voronin.