Capital construction projects stand - comes with a protracted fight in the Moscow

Nedvizhimost31-07-2008 Capital construction projects stand - comes with a protracted fight in the Moscow authorities in Moscow declared war on the capital's long-term construction. City Hall officials are threatening fines for negligent delay in construction. Officials found increasing rates for the rental of land for those who do not pass the object in time. At its regular meeting at City Hall adopted a resolution on improving the procedure for setting the rent for the land in Moscow. " Information: According to the document, the rent for the tenant to site increases from 1,5% to 2,5% of its land value if the property is not put into operation within two years from the date of an investment contract. For the delay of more than three years - the penalties would amount to over 5% followed by the annual two-fold increase in rental rates up to enter a dwelling house in operation. Head of the Department of Land Resources of Moscow Viktor Damurchiev believes that until such sanctions may affect construction companies, which account for up to one third of all prisoners town investment treaties.