Sofia Mayor: Shocking Land Appraisal Differences Halt Metro Construction

Society | December 4, 2008, Thursday // 00:00
Sofia Mayor: Shocking Land Appraisal Differences Halt Metro Construction: Sofia Mayor: Shocking Land Appraisal Differences Halt Metro Construction The Mayor of Sofia Boyko Borisov had sent a report to the Supreme Judiciary Council, asking them to verify the work of land appraisers due to shocking differences in property appraisals. Photo by Yuliana Nikolova (Sofia Photo Agency)

The Mayor of Sofia Boyko Borisov had sent a report to the Supreme Judiciary Council, asking them to verify the work of land appraisers due to shocking differences in the property appraisals of plots adjacent to the sections of Sofia's metro still in the construction stage.

The most alarming difference concerns a 129 square meter plot appraised for the record BGN 732,000 or BGN 5,680 per square meter.

The Sofia City Court had ordered the municipality to pay the amount plus compensation and interest totaling BGN 1,3 M. Borisov stated on Thursday that they would not pay the price, adding that the Supreme Judiciary Council and the Chief Prosecutor have already been notified because this was clearly a deal involving corruption practices.

The Mayor further said before media representatives that, initially, he had no intentions to make the case public and to discuss court decisions, but decided to do so after the amount had ballooned to over BGN 1 M.

The Sofia City Court had also imposed a BGN 7,000 fine to the Sofia municipality for their actions.

The controversial plot has been appraised at BGN 19,700 in 2006. The property owner "Intera Consulting" filed a claim with the court and a new appraisal was conducted. The second one estimates the property at BGN 130,000. After the last complaint, the property has been appraised for the record BGN 730,00.

The appraiser Yolanda Nedeva had participated in all three appraisals, initially alone, then as a member of a group of three experts.

Nedeva explained before the Darik radio that the difference had been the result of the use of different appraisal methodologies and of the profits the owner would miss in the future.

Nedeva confirmed that this was a record price and a unique case regarding the difference in the appraisals.

The Mayor, however, had reported three more cases involving lesser, but still drastic differences.

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