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The Moscow City Government has proposed to extend Law on participatory construction to lofts and studios which are not planned for residential use but are de-facto used as such.
DATE: February 12, 2015 | AUTHOR: atlawyers
The Moscow City Government in its Regulation dated 10.02.2015 has proposed to extend Law on participatory construction to lofts and studios which are not planned for residential use but are de-facto used as such. It is also proposed to establish requirement to perform expert examination of real estate objects if funds of individuals/legal entities are attracted for construction, and toughen administrative penalties in relation to developer for failure to provide information and documents to the supervisory authority.