The government made a decision on April 18th to separate the public utilities in the village of Gagarin. This includes buildings and constructions with a total area of 1106.68 square meters on 4th street in Gavar community, Gegharkunik Province. The buildings include a warehouse (968.86 sq. M.), fuel station (17.95 sq. M.), lighting (21.7 sq. M.), and workshop (98.17 sq. M.), which will be used for educational purposes as a separate real estate unit. This property is part of “Gagarin’s Industrial Base” CJSC after going through the liquidation process.

Beginning February 21, 2023, the market value of the property is estimated to be AMD 83,100.0 thousand, with AMD 82,300.0 thousand accounting for the immovable property.

The real estate unit has gone through four evaluations for division with an educational purpose, but none of the divisions were accepted for various reasons. The proposal is to re-evaluate the residual property of “Gagarin’s Industrial Base” CJSC with an educational purpose by applying a special discount of 80 percent to the assessed value, resulting in a declared value of AMD 66,480.0 thousand.

According to the project, the 70 percent discount offered in the division will go to the RA state budget, while the remaining 30 percent will be allocated to the corresponding community fund.