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Public asked for opinion on property registration
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PUBLIC opinions on a proposed guideline on real estate registration are being sought by the central government which aims to create a unified platform for state, provincial, city and county level governments to share real-time information.
From now till September 15, suggestions or advice can be sent to a designated website, or by mail and e-mail, the Legislative Affairs Office of the State Council said in a statement on its website yesterday.
The just-released proposed guideline on real estate registration recommends that the ownership as well as other legal information regarding real estate, which includes land, maritime space, buildings and forests, should all be registered with certain organizations.
When fully implemented, the initiative could have a sharp impact on the real estate market as it will allow the government to track all properties when it decides to levy austerity measures, 21 Century Business Herald said, citing an analyst. Only properties being transacted are covered now, it said.
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