The Guangzhou Land Resources and Housing Authority will adjust the charges for the transfer of state-owned land from July 1, reports Yicai.com, citing an announcement by the Guangzhou Land Resources and Housing Authority.
Should the floor area ratio of state-owned land plots transfered increase from the original plan, additional land transfer charges will be imposed. There will be a refund on the overpaid amount should the floor area ratio decrease from the original plan.
Any changes in the purpose of the land plots transfered will result in the recovery of the land plots. These plots of land will once again be put through the auction process. The owners of these land plots will be refunded 40 percent of the payments made.
There will be a discount of 50 percent on land transfer charges for underground developments.
Should the floor area ratio of state-owned land plots transfered increase from the original plan, additional land transfer charges will be imposed. There will be a refund on the overpaid amount should the floor area ratio decrease from the original plan.
Any changes in the purpose of the land plots transfered will result in the recovery of the land plots. These plots of land will once again be put through the auction process. The owners of these land plots will be refunded 40 percent of the payments made.
There will be a discount of 50 percent on land transfer charges for underground developments.
