This Ministerial Decree establishes the modalities of determination of value (standard price) of agricultural land used for setting start-up price for sale of land in private ownership, conclusion of mortgage contract and formalization of land based credit, compensation for expropriation of land and setting lease price. Standard price of agricultural land shall not include value of constructions and other objects of immovable property located thereon. The whole agricultural land area shall be subject to determination of standard price. Standard price shall be based on data of land cadastre. In the process of calculation of standard price of agricultural land shall be taken into consideration average market price of cereals on internal market for the previous year.
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A Central Asian country of incredible natural beauty and proud nomadic traditions, most of the territory of present-day Kyrgyzstan was formally annexed to the Russian Empire in 1876. The Kyrgyz staged a major revolt against the Tsarist Empire in 1916 in which almost one-sixth of the Kyrgyz population was killed. Kyrgyzstan became a Soviet republic in 1936 and achieved independence in 1991 when the USSR dissolved. Nationwide demonstrations in the spring of 2005 resulted in the ouster of President Askar AKAEV, who had run the country since 1990.