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8IMPROVEMENT OF INVESTIAL POTENTIAL OF HOUSING CONSTRUCTION IN UZBEKISTAN
Jalilov Shoxrux Zafar o^g^li, Omonov ShermukhammadBekmurod o^g^li, Annayev Abdurasul Abdurashidovich
Uzbekistan, Samarkand, SIES, student
Abstract. this article provides data about developing construction accommodation, supplying people with cheap housing in the rulal cerla as well as improving the investition pmority of.
Keywords: investition investigator, economy, compang, developing, housing, finance, building.
In recent years, the republic has been undertaking a large-scale work on improving the architectural appearance of rural areas, building individual houses on standard designs, increasing the level and quality of life of the rural population, accelerating the development of engineering and transport communications in the country, and social infrastructure facilities. A number of laws and regulations have been developed in the country, especially in rural areas.
During the period from 2009 to 2016, 69557 comfortable houses with a total area of 9,573,000 square meters have been constructed in 1308 residential areas in rural places. Living conditions of more than 83.5 thousand families in rural areas have improved.[1]
Adoption of the Decree of the President of the Republic of Uzbekistan of 21 October 2016 "On the Program of Construction of Inexpensive Housing for Rural Settlements in 2017-2021" requires a new approach to the construction of individual housing in rural areas. The decree envisages a comprehensive program of construction of cheap houses in rural areas for a five-year period. Renewed model projects based on the program have been developed taking into account the needs of the rural population.
The program envisages the creation of three more cheap types of individual housing designs, based on price parameters and durability in rural areas.
Two-and three-storey apartment buildings of the first type will be built. These houses will be constructed with a total area of 42.4 square meters and approximate cost of 72.5 million sums, and two-room apartments with a total cost of 85.0 million soms, including agricultural facilities. The three-room flats are 52.4 square meters and approximate cost of 88.5 million soums, with the cost of 100.7 million soums, taking into account agricultural facilities.
In accordance with the second type, one-storey two-and three-bedroom houses are being built in the densely populated areas, which will be built on a land plot of 2 square meters. The total area of these two-bedroom houses is 53.0 square meters and approximate value of 93.8 million soums, with the cost of 101.5 million soums. In turn, the total area of three-bedroom houses is 63.5 square meters and approximate cost is 111.0 million soums and 118.7 million soums - with the construction of houses.
The third type includes the construction of two-storey four-room houses with a total area of 115.0 square meters, which will be constructed on the land parcel 4th floor. Approximate cost of these houses is 162.0 million soums, including 181.8 million soums - with the construction of houses.[2]
In our opinion, the implementation of the program will have a great impact on the rational use of land resources, building materials production and construction, as well as the development of other essential services, increasing the possibility of purchasing modern and comfortable homes for a wide range of rural population.
Implementation of a large-scale program of construction of cheap housing in rural areas implies the creation of a large number of investment funds and related infrastructure.
Financing of the program will be directed only in 2017 to 2 trillion 121.5 billion soums, including 350 billion soums from the state budget with the funds of homeowners, as well as the involvement of commercial banks in the amount of over 2 trillion soums.
In general, within the framework of the program 2017, 15,000 new houses and apartments will be built, of which 4608 are of the first type, 3739 are of the second type, 3672 are the third type houses and 2981 one-storey houses on 0.06 hectares.
In international practice, the indicator "Living Primate of Average Family's Annual Income" is used as one of the key indicators. In our country, this indicator is 5-6 years for houses constructed
under the cheap housing program. For comparison, this figure is 12 years in Russia, 8.6 years in Kazakhstan, 6.2 years in India, and 4-5 years in Italy and France. [3]
The cost of newly constructed houses is only 415.3 km of water supply networks, 291.5 km of electricity supply networks, 316.9 km of gas supply networks and 260.3 km of roads, including access roads and roads, as well as 134 houses the construction of a social infrastructure is of particular importance.
In addition, the cost of a home is also provided to participants in the program through tax, customs privileges and other benefits. For example, contracting organizations are exempt from paying all types of taxes and mandatory deductions to the State Targeted Funds for the volume of work done under the construction of cheap houses.
One of the major issues is the provision of long-term funds, as well as in the program. The Ministry of Finance opens credit lines in national currency for a term of 15 years including a 5-year grace period at a rate of 3 % per annum, taking into account the fact that the bank's margin is 4 % per annum at the request of commercial banks. At the same time, credit line funds will be directed to the construction of houses within the framework of the program.
Depending on the solvency of the population, especially on the financial and financial capacities of low-income and multi-child families, the initial cost of the mortgage loans was reduced dramatically. If in 2009 the initial cost of the homeowner was 25 % in the rural housing construction program, in the new program, the fee will be 15 % for construction of the first and second types of housing. This will help attract large groups of rural people to the cheap housing program. [4]
At the same time, it should be noted that the issues related to housing construction and the attraction of additional investments in this area.
First, the law provides for the right to housing in socially unprotected, low-income citizens' housing estates, which are needed to improve living conditions and account for housing. In practice, the extent to which this legal norm is enforced primarily depends on the state of the local budget and its funding opportunities.
In some countries (European countries, Japan, South Korea), leasehold housing programs are being implemented to support low-income people. According to them, newly built low-income multistorey houses will be allocated to citizens on lease terms under preferential terms. Such programs are funded not only by the local budget, but also by means of the state budget and private investors.
Second, there are limited opportunities for the population to initiate the initial payment for the housing purchase at the expense of the mortgage, which is impossible to pay in the short term. There are additional opportunities to pay the initial mortgage abroad. In particular, up to 30 % of the cost of housing in the Russian Federation will be paid to families who need to improve the living conditions of the local budget as a social payment. In Germany, with the help of "Bausparen", families will accumulate the funds needed for mortgages for several years. This will allow the citizens, especially young families, to get initial housing through a financial institution and buy a guaranteed home.
Third, it is important for the population to have the right approach to address the stereotypedness and improve the living conditions, and to form financial culture from youth. Many citizens are appealing to the virtual lobby of the head of state, government agencies and local authorities to provide free housing to citizens. However, the majority of them do not correspond to the category of socially vulnerable categories of citizens, which need to improve the living conditions specified by the law, i.e. cases provided for by the state.
Therefore, it is crucial to raise public awareness of the large-scale work carried out by the state, and to use the savings of the population not for luxurious wedding ceremonies, but for the construction and education of the great future of the great economic and social benefit to each family.
In view of the above, it would be expedient to focus on the following issues in order to fully meet the housing needs of the population, expand the financial capacity of vulnerable families and to attract additional investment in the housing sector:
1. Take measures to attract private investors to the projects of construction, management and exploitation of cheap housing on the principles of public-private partnership. In this regard, particular attention should be paid to the following aspects of public-private partnerships:
- State-owned issues related to allocation of land for housing construction, development of project documentation and access to engineering and communication networks;
- part of the allocation of the newly created housing fund to needy families with the right to lease mortgage loans to citizens.
Providing various tax incentives for private investors involved in the construction of cheap housing projects on the basis of public-private partnerships, and taking measures to further enhance long-term funding sources will be effective.
108 № 2(30), Vol.1, February 2018
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2. Development of relevant normative-legal acts on the formulation of initial housing construction, involvement of population's funds into long-term deposits and implementation of experience of construction savings office with the purpose of harmonization of housing requirements. Here are some things to note:
- guaranteeing citizens, including those with low income families, who have not enough financial means to purchase housing, the right to acquire housing, provided that the terms and conditions of the contract are established;
- accumulation of the minimum sum of fixed (contractually agreed) housing prices in the construction and savings accounts of citizens for several years at the expense of monthly payments;
- deductions from the income tax of means of citizens, directed on formation of savings and savings of wages and other incomes of the citizens;
3. Develop a program of measures to improve the financial literacy of the population, aimed at eliminating the stereotype of the population, especially the youth and girls in obtaining the knowledge and skills, promoting the rational and rational use of financial resources, with a special emphasis on the following aspects:
- Training of citizens to correctly budget family budgeting, income and expenditure planning, and enhancement of the culture of savings and savings of the population;
- Creation of special software and mobile applications that allow to monitor family budget, income and expense flows in a timely fashion and broadly promote them among youth;
- Explaining the possibilities of placing the free cash resources of the population on the bank-financial institutions, introducing additional financial services through remote service systems;
4. Implementation of a program of measures to improve the financial culture of public authorities, local authorities and public organizations and educational institutions, including training and explanatory work among the general population, especially among the youth.
The introduction of the above suggestions encourages the introduction of the housing policy in the home-based construction sector in order to raise awareness of each family and increase the financial culture of the population, to attract additional investment in the housing sector and to expand the long-term resource base of banks, opens up new opportunities for wide-scale attraction of investors' finances, innovative solutions, knowledge and experience.
REFERENCES
1. www.uza.uz - National News Agency of Uzbekistan
2. www.uzreport.uz - Information Portal in Uzbekistan
3. www.gazeta.uz - National Information Agency
4. www.stat.uz - official site of Goskomstat
