Shavkat Mirziyoyev approved a new package of measures aimed at the development of housing and mortgage markets through a decree issued on February 21. This was reported by the Ministry of Justice's legal information channel.

According to the decree, the goal for the current year is to construct 135,000 apartments with a total area exceeding 8 million square meters. It is planned to allocate 20.9 trillion sums in mortgage loans.

The number of subsidies for partial coverage of the down payment and interest on loans will be increased by 1.5 times. For these purposes, 2.5 trillion sums will be directed from the state budget.

The president also instructed to allocate 700 billion sums to builders involved in the construction of the "New Uzbekistan" housing complexes and other housing programs to replenish their working capital. Additionally, banks will provide them with 3 trillion sums from their own resources.

Construction organizations participating in the "New Uzbekistan" program will receive preferential loans at a rate of 2% above the Central Bank's base rate. The loan term will be 24 months, with a grace period of 12 months.

Furthermore, starting from May 1, new measures aimed at improving the efficiency of the program will come into effect during the construction of the "New Uzbekistan" complexes. The head of state announced these measures at a previously held meeting.

Only legal entities that are value-added tax payers will be allowed to participate in bids for land plots for the construction of apartment buildings, engage in their construction, and commercialization.

After acquiring a plot of land for rent, the builder will be given 15 days to prepare the pre-project documentation. Project works are expected to be completed within 2 months, and construction is anticipated to commence within 3 months.

The offer will also include deadlines for the completion of construction and the commissioning of the facility. Builders will be exempt from paying land tax for 12 months following the signing of the lease agreement for the plot.

Earlier, Spot reported that the president approved a law on the online transfer of mortgage deeds.