Why has the cost of new houses increased in Sergeli district? What does PM say?

In the Sergeli district of Tashkent city, owners of flats in newly built multi-storey housings are dissatisfied with mortgage payments. New homeowners, complaining about the overpayment of the loan amount, refuse to sign the master agreement with the LLC Uzshakharkurilishinvest. 

At the same time, residents say that the basic contract is not concluded on a long-term basis, and now it is offered to sign it at higher prices.

On April 10, there was a meeting of specialists and managers of authorized organizations, as well as homeowners. During the meeting, the fate of houses built in Sergeli district, which have been in operation since 2018, was discussed. In particular, it was asked why the basic contract for the purchase of housing is being provided at a surplus price.

“When we started the initial payment, it was said that the house was paid 2.880 million soums per square meter. Now the cost of the house per square meter has increased by 1 million 100 thousand sums. If the overall cost was about 160 million soums previously, now it has become 240 million. If it is calculated at the current rate, would it cost 700-800 million?” one of the complainants said. 

According to the LLC Uzshakharkurilishinvest, by the presidential decree, it is planned to construct 150 multi-apartment houses for 5940 families in Tashkent. It is envisaged that 229.5 billion soums of the estimated amount will be raised through the initial payments of citizens.

It is noted that according to preliminary project documents of “ToshuyjoyLITI”, the approximate cost of one square meter has been established at approximately 2.841.170 soums.

Nevertheless, the company did not exclude the fact that the project and estimate documentation was fully developed and the additional cost of each square meter of apartment space would be confirmed after the concluding examination.

According to the bank officials, terms and conditions of the loan agreement remain unchanged. Initial fee for bidders is reduced, so no additional charge is required for the initial payment.

In addition, construction materials purchased by Uzshakharkurilishinvest have significantly increased in 2018, compared to the market value of 2017. For example, cement increased by 226.3% and wood by 206.7%, at the same time, the price of one brick rose by 204.7%.

Studying the case by visiting the site, Prime Minister Abdulla Aripov instructed the relevant authorities to maximally reduce the prices and to reconsider the quality of the premises.

It is noted that in a month's time, a clear and transparent report will be prepared on the revised house price based on the findings of the Republican Commission.