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What you need to know about shared construction?

Representatives of the Department of control and quality of the urban environment of Astana city gave answers to topical issues on the organization of shared construction.

What is the share in housing construction?

According to the law of the Republic of Kazakhstan «on equity participation in housing construction» dated April 7, 2016, equity participation in housing construction is organized by obtaining a guarantee of the guarantee fund, or participation in the project of the second-tier Bank or by raising money of shareholders after the construction of the frame of a house. It is strictly forbidden to attract money of citizens and companies for the construction of houses in other ways.

How is the contract on participation in housing construction?

The contract on participation in housing construction must be concluded in writing and shall enter into force from the date of its registration with the local Executive body. Prior to this, the developer is obliged to citizens and companies who have applied for the conclusion of this agreement, to provide full information about the construction project. It should be noted that the developer has the right to raise money of shareholders only after obtaining the permission of the local Executive body.

What are the obligations of the shareholder and the developer in accordance with the agreement on equity participation in housing construction?

Interest holders shall have the right:

- to demand proper performance by the developer of the terms of the contract on share participation in housing construction;

- to surrender the rights of claim under the contract on share participation in housing construction in the order established by the civil legislation of the RK;

- to demand proper performance of the authorised company of the terms of the contract on share participation in housing construction.

At the same time, he is obliged to:

- deposit money to the Bank account of the authorized company in a non-cash order; - timely fulfill the terms of the contract;

- accept a share in a residential building/building in the presence of a registered act of acceptance of a residential house/building in operation within 30 calendar days from the date of receipt by the shareholder of the notification from the authorized company with the signing of the contract on the transfer of the share;

- in case of change of the actual address and (or) other personal data, notify the authorized company in writing within 30 calendar days. In turn, the developer is responsible for ensuring control over the progress and quality of construction and is responsible for the targeted and timely use of the shareholders ' money and is obliged to ensure compliance with the terms of commissioning.

Also, the developer, the authorized company has the right to advertise the project of construction of a residential building, indicating that the agreements on equity participation in housing construction will be concluded only after the conclusion of the contract on the provision of a guarantee with the guarantee Fund or the issuance of a permit to attract money of shareholders by the local Executive body. The advertisement must contain information about the developer and the authorized company.

In which case, the shareholders have the right to terminate the contract with the developer?

If the developer provides incomplete or inaccurate information about the construction project, the shareholders have the right to apply to the court for recognition of the contract on equity participation in housing construction invalid.

Any use of materials is only permitted with an active hyperlink to the official website of the city of Nur-Sultan http://astana.gov.kz

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