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BUILDING LAND DEVELOPMENT FEE AND COMPENSATION (FORMER)

Building Land Development Fee, as defined in the Decision on Determining the Building Land Development Fee, i.e. BLD Compensation as defined in the former regulations, is primary local public revenue earmarked for financing building land development, i.e. missing utility infrastructure development in 17 Belgrade municipalities, all in accordance with the annual Building Land Development Program.

Building Land Development Fee (BLDF)

BLDF is determined based on the average price per 1m² of the apartments newly constructed in the city territory, total net area of the building, zone coefficient and building purpose coefficient, all in accordance with the Decision on Determining the Building Land Development Fee.

BLDF is defined in the Building Permit based on the calculations performed and communicated to the relevant city or municipal authority by Beoland.

BLDF can be paid in full or in installments over the period of 36 months.

In case BLDF is paid in installments, the Investor shall pay 10% of BLDF no later than the date of Notice of Commencement of Works, and the outstanding amount in monthly installments that will be valorized based on the official CPI referred to above, for the period as of the base date of BLDF calsulation until the last day of the month, and shall be paid no later than 15^th  day of the following month.

The Investor shall pay BLDF either in full or the first installment and shall provide a bank security/guarantee in case of payment in installments, no later than the date of Notice of Commencement of Works.

Building Land Development Compensation BLDC (former)

Prior to Building Legalization Law compliance to the Planning and Construction Law, the Beoland was collecting BLDC and was entering into BLDC Contracts with Investors in the process of subsequent issuance of the Building Permit and the Permit to Use based on the Decision on the Criteria Determining the Building Land Development Compensation.

The Investor who has leased the land upon conducted competitive bidding or a public tender, and who has become entitled to construction of grater floor area based on the document issued by a competent authority, once he has entered into a Land Lease Contract in accordance with the Decision on the Criteria Determining the Leasehold Amount and Land Development Compensation, shall pay, through interim or final statements, for that excess floor area as well as for floor area to be calculate within final account, a unit amount of rent and compensation (defined in the Contract) subject to valorization based on the Consumer Price Index published by the City Authority Institute for Informatics and Statistics, as of the date of entering into Land Lease Contract until the date of payment, without taking into account the increased ratio achieved in the land lease procedure.

Investors who have entered into Building Land Development Compensation Contracts with the Beoland or enter into such Contract no later than by 1^st May 2015, shall pay the Compensation fully in accordance with such Contract.

BLDC amount is valorized based on the Consumer Prices Index officially published by the competent institution.