Influence of "Excessive Standards" in Construction on Efficiency of the Residential Real Estate Development

Abstract

The article demonstrates, that timely updating of the regulatory base in the investment and construction industry is an indispensable condition of its sustainable development, influencing terms, quality and cost efficiency of development projects and housing and utilities services. Authors break up the current construction standards on the following categories illustrated by examples: obligatory - requiring revised modern edition or no changes at all, excessive – advisory to be transferred from mandatory to recommended or cancel, and insufficient or absent – requiring to be strengthened or re-introduced at the legislative level. As a result, authors come to conclusions that process of revision of construction standards and regulations just started and results leave much more to be desired. Currently the transfer of many mandatory norms into recommendation is continued. Experts neglect a number of construction standards and regulations which need not to be eased up, but revised, changed, and sometimes strengthened both to raise the efficiency of development activity, and in favor of the end-consumer.