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  Saturday, October 31, 2020
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The economics ministry will submit a bill on land registration to the government within two weeks
The economics ministry will submit a bill on land registration to the government within two weeks, a deputy minister said Wednesday. Kirill Androsov said the draft law was still being finalized with the Justice Ministry. Earlier, a senior property official said regional and local budgets could gain some 190 billion rubles ($6.9 billion) from land buy-outs by enterprise owners. The calculations were based on the maximum buy-out rate proposed by the Economic Development and Trade Ministry in the draft law of 20% of the land value for Moscow and St.Petersburg and 2.5% for other towns and villages. Under the bill, if enterprises occupying land are closed and trade complexes are built in their place, owners in Moscow will have to pay the city 80% of the remaining land value
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