Regulation Hindering Developers to be Changed

Developers will be able to expand their allocated plots without restrictions. The Ministry of Economy of Armenia proposes amendments to the Land Code of the Republic of Armenia, which will eliminate the existing legal restrictions.

The legislative proposal was presented today at the regular session of the Government by Minister of Economy Vahan Kerobyan.

“According to the current law, it is not possible to expand a plot owned by individuals if there is no construction on it, which creates an artificial obstacle for developers who often have to construct a building on the plot just to meet the formal requirement, spending their financial and time resources,” said Kerobyan.

The second restriction is that the owner is allowed to use the land expansion opportunity only once. However, according to the minister, there are many cases where the developer is deprived of the economically necessary expansion opportunity due to this limitation.

“This will allow developers to modify and improve their plots to make it more suitable for constructing buildings,” added Kerobyan.

The government approved the ministry's proposal. The draft law will be submitted to the National Assembly for consideration shortly.