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Chinese developers with idle land not to get more

Beijing, Sep 27 (Calcutta Tube) Property developers in China who have land that has not been developed for more than a year will be barred from buying additional land, a media report said Monday.

The order was issued to tighten the administration and supervision of land allotted by the ministry of land and resources and the ministry of housing and urban-rural development, China Daily cited the National Business Daily as reporting.

The step would also help in cracking down in case there is a breach of contract.

The notice also prohibited local governments from supplying land for high end-residential properties if their land supply plans for affordable and ordinary residential properties had not been fulfilled.

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