Media & Resources
New rules regarding the liability of developers came into effect on September 1, 2024
DATE: October 2, 2024 | AUTHOR: AT
Starting from September 1, 2024, the Consumer Protection Law no is no longer applicable to developers.
- For violation of the deadlines for correcting defects in construction projects, the penalty will range from 1/300 to 1/150 of the refinancing rate set by the Central Bank of Russia – previously, the penalty was 1%
- The fine for a developer’s failure to voluntarily comply with a co-investor’s requirements will be 5% – previously, it was 50%
- The warranty period for developers’ obligations has been reduced from 5 to 3 years
