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Court found justice of the report of “SIG Appraisal”

”The Arbitration  Court found the rightness of the reports of Company “SIG Appraisal” for “OM3-Spetsstal” on the market evaluation of 8 land plots of industrial purpose. 

We remind that last year the reports of Company “SIG Appraisal” determined the market value of the land plots of “OM3-Spetsstal” in order to contest their cadastral value.  According to the results of the expertise the specialists determined the market value of the declared plots to be lower than the cadastral value by 50 %. In the absolute, the reduction amounted to 307 mln., that makes it possible to get tax benefits in 4,6 mln. per year.

Based on the obtained evaluation reports, “OM3-Spetsstal” filed a lawsuit in the Arbitration Court of St-Petersburg with the claim to determine the cadastral value of evaluated land plots in the amount of the market value. In August 12, the Court found for the rightness of “OM3-Spetsstals” claim. However, the opposing side filed an appeal where it declared the unreliability of the expertise and required a judicial expertise.  

On February 11, 2015, at the court session of the second instance, the first decision wasn’t altered, i.e. the rightness of market value as determined by the specialists of Company “SIG Appraisal” was admitted. 

Thus, since February 11, the decision about the cadastral value of 8 evaluated plots  in the amount of the market value came into force. 

We are sure that the given case will constitute a precedent and its successful completion will stimulate the owners of the property being contested to be more confident and insistent at proving their rightness – Ivan Grigoriev, executive Director of “SIG Appraisal”.