Drafted Regulation to Allow Non-Tradeable Land to be Sold at Auctions

Drafted Regulation to Allow the Selling of Non-Tradeable Land to be Sold at AuctionsIn a new drafted regulation which will allow the city government to allow non tradeable rural land at auctions along with another drafted regulation that states that owners of rural land can also sell their land for affordable housing projects and share the yields in two ways.

These unused lands that are owned by villagers will be sold in auctions and the villagers will split 40 percent of the proceeds between them while the remaining 60 percent is given to the city. Owners of rural land also has the option to chose to share 10 percent of the proceeds from land sales and at the same the receive 10 percent ownership of the properties that are built on the land. The draft also stated that collectively owned rural land can be used to construct affordable housing as long it’s in compliance with the government urban planning policy.

Just last year the city finished constructing affordable housing projects on 15 hectares of land, but remains stretched for available land lots to build housing projects. While some affordable projects are being criticized for being slow and too far from downtown areas and there are no supporting facilities. The drafted regulation that will allow additional 10 percent commercial housing that build on land lots that will be sold but still remain empty and still needed to be developed into affordable housing.

The drafted regulation will also address ownership disputes that concerns unused rural land and event the city will nationalized rural land in the process of urbanization as ownership disputes still exist with lots that is collectively owned by villagers. There are also patches of land which are neither developed by the government or villagers because of these ownership disputes.

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