State Council Sends Work Group to Wenzhou, Two Policies Studied

The State Council has sent a work group to Wenzhou to study two policies being prepared for extending land rights. One is to extend land rights before expiration, based on a 40% of market value preferential land price. The total cost would be relatively high and if the land rights lapsed, the total cost would have to be paid. Another policy is to pay a 2% fee to extend the rights.

iFeng: 70年房屋产权延期传出两种方案 待国务院定夺
April 20, the Department of Homeland has sent a working group to Wenzhou and Zhejiang Provincial Department to conduct joint research, guidance residential land use rights extend the maturity related matters. Under the current legal framework, determining land use rights expire renewal power mode at the State Department. Previously, LAC civil law chambers in the year compiled the " Zhonghua Renmin Gonghuo Guo Property Law refined solution" clearly, the expiration of the period of residential construction land use right, the automatic renewal of the term, the standards and methods of land use fees paid, by the State Council.

According to China Times reported, the Wenzhou which proposed possible solutions, the market spread "light and heavy" two options.

A scheme, such as land use has not yet expired, according to the land market to assess the price of 40% of price, through pay land transfer to obtain land use rights for 70 years again. If expired, you need the full payment of land transfer. But whether or not expired, Waldo pay the land transfer will be a sizeable amount, the higher the cost of the renewal.

Another set of programs, renewal costs are relatively light. Some media reported that Wenzhou tend to allocate land to sell the way to pay, and only pay the deed tax of 2% of the land transfer to complete renewal.

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