Presidential Decree №PD-377 "On measures to create additional amenities for the population when using a mortgage loan" was adopted

23/09/2022 - 11:27 1683

At the initiative of the President of the Republic of Uzbekistan, in order to support the population in need of better housing conditions by allocating subsidies, a number of amenities are being created.

Along with this, the President adopted another important decree on providing housing for citizens with low incomes.

With the adoption of this decree:

Firstly, since January 1, 2023, the funds that are paid monthly on mortgage loans to citizens who have received subsidies for the purchase of housing have been exempt from income tax. For example: the annual income of a citizen in the amount of 73.6 million soums (eighty times the minimum wage) is not taxed. This will give each citizen additional support from the state in the amount of 9 million soums per year.

Secondly, from November 1, 2022, taking into account the proposals made by many of citizens, citizens wishing to purchase unfinished apartments are also allowed to pay subsidies from the state budget. This, in turn, allows citizens to decorate their apartments in the desired design, as well as buy them relatively inexpensively.

Thirdly, another opportunity was created for citizens who were issued a notification of a subsidy in 2021, but still have not been able to find suitable housing, within which the validity period of the notification of a subsidy to almost 13 thousand citizens was extended until December 31, 2022.

Fourthly, given that in recent years citizens have expressed many wishes to purchase apartments on the secondary market, in accordance with the instructions of the head of state, loan funds in the amount of 300 million soums will be allocated from the state budget to Mortgage Refinancing Company of Uzbekistan JSC. This, in turn, creates prerequisites for meeting the needs of citizens who want to purchase housing on the secondary market on the basis of a mortgage loan.

Fifthly, in order for citizens to conveniently receive information about housing under construction in the regions, in particular about their design solution, price, location and other data in one place, the creation of mortgage centers is envisaged in all regions of the republic based on the experience of the city of Tashkent. This center includes corners of projects of construction organizations, cash desks of commercial banks, notary and cadastral services. As a result, the wandering of citizens on the purchase of housing will be stopped, the case will be solved in one place.

Information Service of the

 Ministry of Economic Development and Poverty Reduction