Starting price of the auction item for the right to conclude a lease agreement for a land plot
The starting price of the auction item for the right to conclude a lease agreement for a land plot is set at the discretion of the authorized body either in the amount of annual rent determined based on the results of market valuation in accordance with the Federal Law "On Appraisal Activities in the Russian Federation," or in an amount not less than one and a half percent of the cadastral value of such land plot, if the results of state cadastral valuation have been approved no earlier than five years prior to the date of the decision to conduct the auction1.
Land Code of the Russian Federation, as amended on December 30, 2020, Article 39.11, paragraph 14 // Official Gazette of the Russian Federation. 2001. No. 44. Article 4147. ↩