Regulatory Alerts2019-01-10 | ПФ-5623Added · Updated
On Measures for Fundamental Improvement of Urbanization Processes
The Decree establishes a new housing policy to activate urbanization by leveraging mortgage lending and private investment, while guaranteeing private ownership rights for land plots under residential and non-residential buildings. It mandates the privatization of these land plots through state service centers or the Unified Interactive State Services Portal, with the Cabinet of Ministers required to submit a draft law on this matter within two months and approve tiered payment amounts by June 1, 2019. The Ministry of Economic Development and Poverty Reduction is tasked with developing a 2030 Urbanization Development Concept by July 1, 2019, and the Central Bank must introduce a new lending system by April 1, 2019, that abolishes the mandatory requirement for borrowers to register at the lending bank.
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