Additional guarantees promote participatory construction development in Bashkiria

In 2012 the total number of the registered contracts of participatory construction increased by 84 % in Bashkortostan in comparison with 2011.

“If in 2011 it was registered more than 5400 contracts of participatory construction in the republic, then in 2012 — already about 10 thousand,” the head of the department of the Federal Service of the State Registration, Cadastre and Cartography on RB Igor Shelyakov stated at the briefing. “Now it is done much to improve protection of the population against deceit from unfair builders. It includes recent amendments to the legislation on additional guarantees for participatory construction members, introduction of a new way to provide execution of obligations by builders — at the expense of insurance of their civil liability. Therefore we have essential growth of the registered contracts of participatory construction.”