KOCHARIAN AND CADASTRE CHIEF DISCUSS LAND AUCTION, ILLEGAL CONSTRUCTION

Armenpress
Apr 04 2006

YEREVAN, APRIL 4, ARMENPRESS: Land auctions, illegal construction
and some other issues pertaining to real property market topped the
agenda of a meeting today of president Kocharian with Manuk Vardanian,
head of the state cadastre committee.

Kocharian was quoted by his press office as saying that the process
of land auctioning must become more transparent and open and more
accessible to all. In this regard Kocharian stressed the necessity
of revising the land zoning, which he said would help to set real
starting prices when a land plot is auctioned.

Kocharian and Vardanian also discussed options for resolving the
problem of illegal constructions that were not legalized before
the end of a deadline set by the government. They also spoke about
trends in the mortgage market and some other issues. Particularly,
it was stated that the number of deals in mortgage market increased
27 percent in the first two months of this year from a year ago.