Sunday19 January 2025
centralasiabusiness.com

The number of inquiries regarding the construction of apartment buildings has increased.

The Competition Committee reported an increase in inquiries and provided essential recommendations for homebuyers.
Увеличилось число запросов по вопросам строительства жилых многоквартирных зданий.

In 2024, approximately 1,700 appeals were received. As a result of the measures taken in favor of consumers, around 20 billion sums were recalculated.

An analysis of contracts from 129 construction companies revealed the following violations:

  • In 80% of contracts, the right to recalculation is predominantly granted to construction companies, while only 20% of the contracts distribute this right between both parties.
  • In 58% of contracts, there is no mention of the right to recalculation in case of discrepancies in the total area upon completion of construction.
  • In 37% of contracts, obligations related to construction work within the apartment are absent.
  • In 18% of contracts, the rights and obligations of the parties are not specified.
  • In 39% of contracts, the deadline for the completion of the construction project is not indicated.
  • In 51% of contracts, there is no provision for penalties payable for each day of delay in the completion of the project.
  • In 86% of contracts, the right for both parties to terminate the contract is included, of which:
  • In 41%, this right takes into account the interests of both parties,
  • In 59% – it considers only the interests of the construction company.
  • In 14% of contracts, there is no clause regarding the possibility of contract termination.
  • In 74% of cases, if the contract is unilaterally terminated, the refund period for the buyer is set between 30 to 180 days, and in some cases – up to 24-36 months.
  • In 84% of contracts, there are no warranty periods provided by the construction company after the apartment is handed over to the buyer.
  • In 82% of cases, the obligation to remedy identified defects during the warranty period is not specified.

The Competition Committee offers the following recommendations to homebuyers:

  • Carefully review the terms of the contract.
  • Check key points (construction timelines, rights and obligations of the parties, their balance, construction and commissioning periods, and liability for delays).
  • Ensure the reliability of the company and construction organization (this can be verified in the electronic registry and the "Shaffof Kurilish (Transparent Construction)" system).
  • Make payments exclusively through bank cashiers.