Moscow Region government to set local land prices from 1 July 2012.

12.03.2012

Legal Update No. 336

Goltsblat BLP advises that Moscow Region Law No. 11/2012-OZ dated 17 February 2012 “On Amendments to the Moscow Region Law “On Land Regulation in the Moscow Region” (hereinafter - “the Law”) has come into force.

First, this Law aims to bring the Moscow Region Law “On Land Regulation in the Moscow Region” in line with the latest updates to Russian State Law. The Law also determines that from 1 July 2012 land owned by the Moscow Region Government or land in undelimited state ownership will be sold to individuals and legal entities owning buildings, constructions or facilities located thereon at the prices set by the Moscow Region Government. The relevant regulation has not yet been approved by the Moscow Region Government.

The Law will change the procedure for determining the rent on land owned by the Moscow Region Government or land in undelimited state ownership (in particular, the procedures to be followed to change rent unilaterally or to apply the capital construction (reconstruction) ratio).

The Law took effect on the next day after its official publication, i.e. 1 March 2012. Some of its provisions are to be applied for determining the rent from 1 January 2013.

For additional information, please contact:

to Vitaly Mozharowski
Partner, Real Estate,
Goltsblat BLP,
T: +7 (495) 287 44 44,
E: info@gblplaw.com

to Yuri Chernobrivtsev
Partner, Real Estate,
Goltsblat BLP,
T: +7 (495) 287 44 44,
E: info@gblplaw.com

 

Contact details

For all issues related to publications, news and press releases, please contact:

Ksenia Soboleva

Head of PR and Communications

Subscription

If you would like to receive our legal alerts and updates highlighting current legal issues relevant to your areas of interest and providing expert commentary by our lawyers, please click on "Sign Up" and fill out the form.