The process of real estate seizure for the construction of a high-speed railroad to Moscow is beginning in St. Petersburg.
This process of seizure will be accompanied by legal disputes, the main subject of which will be the determination of the amount of compensation for the seized real estate. Compensation will consist of the market value of the asset and losses associated with its loss. It is important to take into account the type of permitted use of the land plot, which affects its value.
Arina Dovzhenko, Partner and Head of Real Estate and Construction Practice at Nordic Star, emphasizes that the market value does not take into account the factor of forced sale, which may affect the final compensation amounts.
Details of Arina’s commentary are available at the link.