Azerbaijan Sees Substantial Decline In Registration Time For Real Estate Rights

(MENAFN- Trend News Agency) BAKU, Azerbaijan, February 24. As a result of reforms in the registration of real estate rights in Azerbaijan through a one-stop-shop principle, the procedure time was reduced from seven days to one, while the number of procedures dropped from four to one, Chairman of the Real Estate Cadaster and Address Registry Service Public legal Entity of the State Committee on Property Issues under the Azerbaijani Ministry of Economy Nigar Alimova said during the 'Digital Management platform and Launch of New Economic Initiatives' conference, trend reports.

'The implemented reforms were mainly focused on the number of transactions, prices, methods of payment, and procedures for obtaining documents. The primary objective was to effectuate the one-stop-shop principle by minimizing administrative-enforcement procedures. The targets set this time were to apply a single payment system, which would reduce costs, simplify maintenance, diminish the number of documents, and prevent loss of time. As a result, both the number of procedures and the time spent have significantly decreased,' she said.

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Trend News Agency

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