Lithuanian expert arrives in Azerbaijan for real estate registration project

Lithuanian expert arrives in Azerbaijan for real estate registration project
# 19 September 2008 13:25 (UTC +04:00)
Baku. Rashad Suleymanov – APA-Economics. Lithuania expert Albina Aleksiene, who was chosen as an individual consultant for the World Bank-supported Real Estate Registration Project for Azerbaijan, has arrived in Baku.
The State Real Estate Registry Service told APA-Economics that a presentation on real estate valuation was held for experts.
The consultant gave advice about the factors influencing real estate valuation, study in property market, technical specifications pf immovable property, international know-how on valuation etc.
The World Bank-supported Real Estate Registration Project for Azerbaijan envisions inventorying, valuing and establishing a legal framework for the unauthorized buildings in the country.
The WB project has four main components: Real Estate Registration will provide more effective and efficient customer services in the registration of property rights through the improvement of the physical condition of the registration office premises and installation of automated systems and on-line services, State Property Management and Registration will support improvements in the management of state property, Base Mapping and Land Cadastre will provide the basic geodetic, mapping and cadastral data for the automated property registration and state property management systems, Training, Policy Development and Project Management will support project implementation and monitoring, and coordinate joint activities relating to training, creating a joint information technology/information management strategy, and policy and legislative development.
The $30 WB loan for the Real Estate Registration Project has a maturity of 20 years with a 5-year grace period (LIBOR +0.75%).
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THE OPERATION IS BEING PERFORMED