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City news
Uninhabitable housing to be given up for free
11.18.2003 12:12

Streets of Saint-Petersburg The Governor of St. Petersburg Valentina Matvienko announced that over the next year the City Administration intends to dispense all uninhabitable housing to investors for free. The main reason for such housing being of no interest is that the right to build or reconstruct them costs too much. The unfavorable location is also a minus. Besides, the Russian Law has no regulations so far to avoid illegal “post-registration” in the houses destined to be demolished. In addition, the current sanitary-and-epidemiological requirements sometimes prohibit building new housing in place of the former building. The Administration has realized that it should give up real estate of this sort for free. Next year Valentina Matvienko will sign a number of new regulations that will allow reconstruction of uninhabitable and resettled real estate for free. Despite the new regulations, investors will face tough requirements regarding time constraints and other provisions of contracts for having free reconstruction rights. The Governor feels almost certain that some buildings might be put up for sale. The City Administration will grant a freedom of action to the district authorities to get houses ready for auctions held by the “Fond Imuschestva” State Office.

News source: www.dp.ru
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