Romanian Govt Sells Nationalized Building Plots To Collect EUR1B

 "Tenants who gained or gain ownership of the apartments buy from the administrative territorial units the land privately owned by the latter, connected to the apartments in question. If the unit is composed of several apartments, the land connected to the structure will also be bought," according to the draft law obtained by MEDIAFAX.

The plots will be sold at market price, based on an evaluation report compiled by authorized vendors and approved by the Local Council, respectively by the General Council of Bucharest.

Land under litigation or claiming procedures will not be sold.

"In the current crisis situation, the selling of these plots represents a source of income that would balance the budgets of administrative territorial units. The procedure was discussed on a political level and it will be introduced in the anti-crisis program, to increase budget revenues," Ministry sources told MEDIAFAX.

The Government estimates that through this transactions it will obtain an additional EUR1 billion for the local budget in 2009 and 2010.

The sums obtained from the sale of the plots will represent income for the budget of the administrative territorial unit that has concluded the selling contract.

Romanian Prime Minister Emil Boc said the plots belonging to nationalized buildings that were given back to their owners according to Law 112/1995, will be sold to the latter at market price by the Romanian local authorities.

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