“Within the framework of only one lease agreement, the Yerevan community has lost about 290 million AMD of its own income.

According to the lease agreement, Yerevan Municipality had to notify the lessee of the change in the cadastral value, in which case the monthly rent of 201,205 AMD would be AMD 1,624,580, the difference being AMD 1,423,375 (during 2003-2020 it would be 17x 12x 1 423 375 = 290. 386 850).

Why this has not been done before is another question. But there are dozens of such cases in Arabkir community alone, of course this is the biggest one,” Hovsep Kubatyan, head of the information and public relations department of Yerevan Municipality said.