I.O'S ORDER. MINISTER OF JUSTICE OF THE REPUBLIC OF KAZAKHSTAN

of December 9, 2010 No. 326

About approval of standards of assessment

According to article 19 of the Law of the Republic of Kazakhstan "About estimative activities in the Republic of Kazakhstan", I ORDER:

1. Approve the enclosed standards of assessment "Value assessment of real estate".

2. To impose control of execution of this order on the supervising Vice-Minister of Justice of the Republic of Kazakhstan.

3. This order becomes effective after ten calendar days from the date of its first official publication.

Approved by the order of the deputy. The Minister of Justice of the Republic of Kazakhstan of December 9, 2010 No. 326

Standard of assessment "Value assessment of real estate"

1. General provisions

1. This standard of value assessment of real estate (further - the Standard) is developed based on the Law of the Republic of Kazakhstan "About estimative activities in the Republic of Kazakhstan" according to international standards of assessment, establishes the main requirements to evaluation methods of real estate and is obligatory for application in the territory of the Republic of Kazakhstan.

2. Action of this Standard extends to assessment of the following types of the real estate:

1) the land areas occupied with improvements or the unoccupied parcels of land including lands of agricultural purpose;

2) buildings and constructions, including internal engineering networks and systems, and also the equipment providing functioning of the estimated buildings and constructions;

3) objects of construction in progress;

4) transfer devices;

5) long-term plantings.

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