MOLAR Requires Land Kings to Report High-scale Real Estate Activity within 2 Working Days
Published:
2010-12-20
The Ministry of Land and Resources (MOLAR) issued a notice last night requiring that the land resource departments of each city and province in China adopt strict measures to oversee and control the process of hoarding and other illegal land activities by real estate companies. The MOLAR has also required real estate companies to report sales with over a 50 percent premium rate or record high prices to provincial land authorities within two working days after the sale.
Source
Xinhua News
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