News + Events
Several Issues Concerning the Supply and Supervision of Land for Construction (Real Estate Circular 34) - 国土资源部关于加强房地产用地供应和监管有关问题的通知
April 27, 2010
Released and effective on March 10, 2010
On March 10, 2010, the Ministry of Land and Resources (“MLR”) issued a Circular on Issues Relevant to Strengthening the Supply and Regulation of Land Use for Real Property. This Circular stipulates that a down payment (50% for land purchases) must be paid within a month of signing the purchase contract. Furthermore, a 20% deposit calculated based on the minimum price of the land involved in land auctions should also be paid.