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This Ministerial Decree establishes the modalities of the organization and carrying out tenders (auction sale) of the plots of urban land and lease thereof for the purpose of housing construction. Seller of the aforesaid plots of urban land or of the right of purchase thereof shall be a state body of local self-government. Trade of the plots of land pertaining to the federal property and the right of lease thereof shall be authorized by the Government of the Russian Federation. Plots of urban land destined for sale shall be determined in accordance with the general land use planning project. The seller shall establish the form of sale and the initial price of the plots of land that shall be set as fivefold rate of land tax. Successful tenderer shall make payment for the purchased plot of land or for the right of lease thereof and shall make agreement of sale and purchase within 20 days from the date of legalization of the outcome of tender.
