“HAVE YOU BEEN TO NORTH AVENUE?..”

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| 18:26:05 | 06-09-2005 | Social |

Yesterday the Yerevan city administration started negotiations with
the residents of the future North Avenue, who are not content with
the compensation offered and refuse to abandon the territory on their
own free will. During today’s’ press conference head of the investment
and construction department Karen Davtyan said he is surprised at the
complaints. In his words, 400 contracts had to be signed. 375 of them
were signed without any conflicts.

According to K. Davtyan, people registered real estate incorrectly
and did not privatize illegal territories, that is why they are not
satisfied with the compensation offered. As fort he income tax imposed
on the compensation, the problem can be solved after introducing
certain changes to the law.

Karen Davtyan considers that the compensation is enough for purchasing
a new flat. In his words, $400 was allocated for a square meter of
dwelling in Buzand Street, some residents were even paid $925-980. When
asked in which Yerevan districts it is possible to by a flat K. Davtyan
said, “For example Angetta Muradyan can buy 30 square meters in the
center of Yerevan. However, he could not tell how a family consisting
of 10 members will leave on 30 square meters. (to note, Muradyans’
house has been already pulled down)

Karen Davtyan did not rule out the possibility of increasing the
amount of compensation if “the investor wishes to do it.”