In Tashkent, the price of apartments turned out to be 7.4 times higher than the cadastral value, and that of houses with yards 14 times higher.

The preliminary results of the mass valuation of real estate properties in Tashkent city have been announced. During the valuation, more than 600 thousand apartments and over 213 thousand private houses were re-assessed.

 

According to the Ministry of Economy and Finance data, the current cadastral value of more than 600 thousand apartments in the capital was 57.8 trillion soums. As a result of the mass valuation, the value of these properties was set at 426.7 trillion soums.

 

While the current cadastral value of over 213 thousand private houses amounted to 39.1 trillion soums, after the mass valuation their value was assessed at 548.4 trillion soums.

 

Thus, the difference between the current cadastral value and the value determined in the mass valuation was nearly 7.4 times for apartments and 14 times for private houses.

 

According to the valuation results, the value of real estate in the capital varies significantly depending on the area.

 

In particular, 1 square meter of apartments was valued from 4.6 million soums to 35.8 million soums, while the value of one sotik (0.01 hectare) of land was assessed from 115 million soums to 890 million soums.

 

In the valuation, factors such as the location of the property, area, year of construction, number of floors, construction material, as well as proximity to transport and social infrastructure were taken into account. 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 receive SMS notifications about the valuation results for their real estate. They can review the data used in the calculations, report errors, and request a re-examination of the results.

 

Additionally, a property owner dissatisfied with the valuation result has the right to engage an appraisal organization to conduct an independent valuation.