Date of first auction to sale municipality lands fixed in Azerbaijan

Business Materials 3 April 2009 18:54 (UTC +04:00)

Azerbaijan, Baku, April 3 / Trend , U. Ismayilova/  

Azerbaijan will hold the first auction to sell municipality lands in the Absheron region on April 6, State Land and Cartography Committee territorial head Mubariz Valiyev said. 

The municipality lands will be sold via auctions and tender in Azerbaijan under the presidential decree dated on Dec. 10, 2008 in an effort to ensure transparency.

"Municipality lands in Ceyranbatan and Fatmai settlements of Absheron region will be sold at the first auction," Valiyev said. 

He said two land plots with an area of 6 hundreds parts will be put into the first auction. The lands will be used to build private housing.

The auction commission includes head and representatives of the State Land and Cartography Committee territorial branch, representatives of the administrative body, municipality and public.

Base land price for the Absheron region will be fixed at the auction.

Under new rules, the deals that are signed beyond the auction will be based on new prices, Valiyev said.

The first auction will not be based on previous base prices that were fixed in 1990s. Six hundred part of land costs 120 manat according to prices fixed in 1990s. 

According to presidential decree, lands of local administrative bodies will be sold only via auctions held by the State Land and Cartography Committee. The lands were sold by municipalities previously.

Legal entities or physical persons who win auctions sign a deal with a State Land and Cartography Committee territorial branch within 20 days in line with the civil and land legislation.

On April 3, the official exchange rate is 0. 8028 manat to $1.

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