Eight dilapidated and aging buildings in Baku’s Nizami district are set to be demolished as part of the city’s 2040 Master Plan, with residents to receive compensation.
The demolition in Nizami district will cover Elshan Suleymanov, Kamil Balakishiyev, Mammadali Sharifli and Rizvan Teymurov streets, as well as Babek and Jamshid Nakhchivanski avenues. The project envisages renovating old residential buildings, upgrading the surrounding areas and creating new green spaces.
Vugar Oruj, chairman of the Appraisers Society, said most of the buildings slated for demolition are dormitories. He noted that some of the buildings will be torn down using state funds, with residents relocated and parks laid out on the cleared land.
How compensation will be calculated
Oruj said the amount of compensation paid to residents will depend on the location of the property and the available infrastructure. Compensation is set at 2,000-2,800 manats per square meter for residential space and up to 4,000 manats per square meter for non-residential space.
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