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Q&A Regarding China's " Urban Real Estate Administration Law of the People's Republic of China"(3)
Q&A Regarding China's " Urban Real Estate Administration Law of the People's Republic of China"(3)
| Q: | What are the conditions for establishing a real estate development enterprise? |
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| Q: | How is the time limit for the start of real estate development stipulated? |
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Where land use rights are obtained through transfer for real estate development, the land must be developed in accordance with the land use purpose and the period for commencing development as stipulated in the land use right transfer contract. If development has not started within one year after the agreed commencement date in the land transfer contract, a land idleness fee equivalent to up to 20% of the land use right transfer fee may be levied. If no development has started within two years, the land use right may be reclaimed free of charge. However, this does not apply if the delay in the commencement of development is caused by force majeure, the actions of the government or relevant government departments, or the necessary preparatory work for the commencement of development. |
| Q: | What principles should be followed in real estate price assessment? |
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Real estate price assessment should follow the principles of justice, fairness and transparency. It should be conducted in accordance with the technical standards and assessment procedures prescribed by the state, based on the benchmark land price, the standard land price and the replacement cost of various types of houses, and with reference to the local market price. |
| Q: | What does real estate transfer refer to? |
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Real estate transfer refers to the act of a real estate right holder transferring their real estate to others through sale, gift or other legal means. |
| Q: | When land ownership is obtained through transfer, what conditions should be met when transferring real estate? |
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