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Ministry To Check Unusual Land Deals
Source: Xinhua |
June 1, 2011, Wednesday
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Print Edition
Print Edition
THE Ministry of Land and Resources will check land deals completed since the start of the year to monitor unusual price fluctuations and curb rebounds in residential land prices.
Local governments at or above the county level should check land transactions completed since January and report before June 30 about any transactions with unusually high prices, the ministry said yesterday.
It previously ordered local governments to submit reports on lands auctioned with the premium rate exceeding 50 percent and the total value or per square meter prices hitting record highs.
Prices of residential land grew slower in the first quarter of the year amid the country's efforts to tighten the property market.
Local governments at or above the county level should check land transactions completed since January and report before June 30 about any transactions with unusually high prices, the ministry said yesterday.
It previously ordered local governments to submit reports on lands auctioned with the premium rate exceeding 50 percent and the total value or per square meter prices hitting record highs.
Prices of residential land grew slower in the first quarter of the year amid the country's efforts to tighten the property market.
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