Related News
Shanghai demands lottery for purchases of new commercial homes
Online Edition
SHANGHAI has published a new property market guideline, outlining plans for all buyers of commercial houses to apply to a lottery-like registration system to purchase new homes.
According to the guideline, purchasing orders must be generated by lottery software provided by authorized notary organs in Shanghai. The results should be publicized immediately after the draw.
Real estate developers are prohibited from setting up beneficial lottery conditions for their staff or those connected to them, and sales agents of the developers are not eligible for the lottery.
Real estate developers must examine the eligibility of home buyers and submit applications to Shanghai's notary organs for inclusion in the lottery at least ten days ahead of a new program.
The list of all eligible buyers and houses as well as the lottery results must be published and notarized.
Any fraudulent activity or cheating will be strictly prohibited. Any developers implicated in underhand activity will be blacklisted and may face criminal charges.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
