Metro Holdings

[Boon]

"Upon expiry of the term of grant under the land use right grant contract, the user of non-residential land may apply for renewal of land use term by submitting an application at least 12 months in advance. Such application will be granted unless for public interest the land needs to be taken back by the state. If the application is granted, the land user is required to enter into a new land use right grant contract, pay a land use right grant premium and effect the necessary registration of the renewed right. If no application is made, or such application is not granted, the land use right shall revert to the State and the buildings and fixtures on the land shall be handled in accordance with the agreements set forth in the land use right grant contract."

Please download "TCT Introductory Document" from this link and refer to page 213 to 214. No idea on quantum of land premium to be paid.

http://ir.treasurychinatrust.com/phoenix...tsArchives