The Fund for the Protection of the Rights of Shareholders is planning to actively “take away” problem objects, which should now be completed by the efforts of the regions, if the obligations are not fulfilled within six months. Now we are talking about about a hundred objects that can pass under the responsibility of the fund by the end of the third quarter of this year. Such an intensification of work is associated both with the low rates of restoration of the rights of equity holders by the regions, and with the emergence of new deceived citizens.
Having almost received already expanded powers, the Fund for the Protection of the Rights of Shareholders is preparing for more active work with regional projects under construction. Let us explain that now there are two mechanisms for completing problem houses – with the involvement of the federal fund (then the subjects conclude agreements with it on co-financing) or by the efforts of the regions themselves. In the latter case, roadmaps are approved, in which plans are written to restore the rights of equity holders – it is promised that, in general, the problem of defrauded citizens should be resolved by 2024.
New powers are given by the law adopted by the State Duma in the third reading on Wednesday, which allows the Fund of Shareholders not only to monitor the fulfillment of their obligations by the regions, but also to “take” objects for themselves that they cannot cope with. The fund will also be able to complete long-term construction projects by attracting money from equity holders without escrow accounts, but with mandatory banking support.
The need for such decisions is confirmed by statistics.
A year earlier, the Accounts Chamber warned about the risks of not completing work on time, noting the lack of funds for the completion of problematic facilities – for 2020-2022, the state auditors calculated, a little more than 40 billion rubles were provided for this. in all in 31 regions.
Preparing for the new powers, the fund checked the “road maps” of the regions – as a result, as its head Konstantin Timofeev said yesterday, a number of violations were revealed. In total, about 1.5 thousand objects are under the control of the regions – of which only 740 are planned to restore the rights of equity holders for 2021-2022, for the rest, the fulfillment of obligations has been postponed to 2023 and even to a later date. According to the head of the fund, the regions have not set deadlines for solving the problems of defrauded equity holders for 74 objects.
As Konstantin Timofeev assured, this should not lead to the need to allocate additional funds, since the regions usually take on objects with investment potential. Recall that the fund’s work is financed from three sources: contributions from developers to the compensation fund (1.2% of the cost of the equity participation agreement – 66.5 billion rubles were received), budget money, as well as funds from the sale of completed apartments by the fund. In general, the need for financing is estimated at 78 billion rubles. (of which 60 billion rubles are federal funds) until 2024.
How the pandemic has increased the number of defrauded real estate investors
The reasons for stepping up work with defrauded equity holders are prosaic – their number is still growing. Their total number is estimated at 159 thousand people, and in the first quarter of this year alone, 7 thousand such buyers of apartments appeared. According to Konstantin Timofeev, on the one hand, this was influenced by the moratorium introduced in April 2020 on the inclusion of houses in the register of problem objects (removed in January), on the other hand, by the moratorium on inspections of developers. The fund believes that by the end of 2023, about 10-15 thousand new defrauded equity holders may appear, and most of them will fall on this year. Note that such expectations are also associated with the fact that developers have not yet fully switched to project financing using escrow accounts – now almost 60% of housing under construction in the country is being built using this mechanism.