Preliminary results of mass valuation of real estate objects in Tashkent have been announced. During the valuation process, more than 600 thousand apartments and over 213 thousand private houses were revalued.
According to the Ministry of Economy and Finance, the current cadastral value of apartments in the capital was 57.8 trillion soums. After mass valuation, their total value was set at 426.7 trillion soums.
The current cadastral value of private houses was 39.1 trillion soums, and as a result of revaluation this figure reached 548.4 trillion soums.
Thus, in the new valuation, the value of real estate was approximately 7.4 times higher than the previous cadastral value for apartments, and 14 times higher for private houses.
According to the valuation results, in Tashkent the price per square meter of apartments ranges from 4.6 million soums to 35.8 million soums depending on the area, and the value of one sotik of land ranges from 115 million soums to 890 million soums.
The calculations took into account factors such as the object's location, area, year of construction, number of floors, construction materials, and proximity to transport and social infrastructure. Market offers, realtor data, and notarized purchase and sale transactions were also analyzed.
According to the ministry, the preliminary results of the mass valuation will be open for public discussion for 60 days.
Property owners will be notified of the valuation results via SMS. They can review the data used in the calculations, report identified errors, and request a reconsideration of the result.
Property owners dissatisfied with the results have the right to engage an appraisal organization to conduct an independent valuation.
