Azerbaijan develops methodology to assess real estate

Garashov said they drew a consultant to specify methodology of real estate assessment, as part of the real estate registration project implemented in line with the agreement which was signed between the Azerbaijani government and World Bank.

Garashov said the methodology will be submitted to the government for consideration soon.

The project's one of the most important elements is mass assessment of real estate in Azerbaijan regardless type of property, he said.

A juridical centre of the state real estate register service opened on April 21 as part of the project. The juridical center's key activities comprises holding workshops on legislation in the state registration of laws and cadastre of properties, developing proposals to improve legislation and form legal mechanisms in this field, as well as applying foreign countries' experience to registration of real estate.

The real estate registration project includes four components - real estate registration; management and register of state property; basic cartography and land cadastre; and training, forming policy and managing the project. The project concerns 21 offices of state real estate register service and will cover 60 offices of the State Committee on real estate management.

/Trend Capital/