【正文】 opment of real estate, they must, based on the quota set by the people39。s government for approval. Article 11 Granting of the landuse right shall be carried out by the people39。s governments of the cities and counties in conjunction with the petent departments of urban planning, construction and housing administration. Such plans shall, according to the regulations of the State Council, be implemented by the departments of land administration under the people39。s governments with due authority for approval. Limits of authority as provided in the preceding paragraph for the people39。s governments of the municipalities directly under the Central Government. Article 12 The landuse right may be granted by means of auction, bidding or agreement between the two parties. For Land used for mercial, tourism, recreation and luxury housing purposes, where conditions permit, the means of auction or bidding shall be adopted。s governments of the cities or counties and the land users. Article 15 A land user must pay the fees for the granting of the landuse right as agreed upon in the granting contract. In default of such payments, the department of land administration shall have the power to rescind the contract and may demand pensation for the breach of contract. Article 16 Where a land user has paid the fees for the granting of the landuse right as agreed upon in the granting contract, the department of land administration under the people39。 In default of such provision, the land user shall have the right to cancel the contract, the fees for granting the landuse right shall be returned by the department of land administration, and the land user may demand pensation for the breach of contract. Article 17 Where a land user who needs to modify the landuse purpose agreed upon in the contract for granting the landuse right, he must obtain the consent of the granting party and the petent administrative department for urban planning under the people39。s government at or above the county level, after the land user has paid pensation and expenses for resettlement, etc., approves in accordance with the law to allocate the land to the land user or gratuitously allocates the landuse right to the land user. Where the landuse right has been obtained by means of allocation in accordance with the provisions of this Law, except as otherwise provided by laws, administrative rules and regulations, there shall be no restriction with respect to the term of use. Article 23 The landuse right for the following land used for construction may, if really necessary, be allocated upon approval by the people39。 (2) Land used for urban infrastructure or public utilities。 and (4) Land used for other purposes as provided by laws or administrative rules and regulations. Chapter III Development of Real EstateArticle 24 The development of real estate must be strictly subjected to the urban planning and carried out in a manner of overall planning, rational distribution, prehensive development and construction with supporting facilities, in line with the principle of bining the economic, social and environmental benefits. Article 25 Where the landuse right has been obtained by means of granting for development of real estate, the land must be developed according to the landuse purpose and the time limit for starting the development as agreed upon in the contract for granting the landuse right. Where one year has elapsed from the date for starting the development as agreed upon in the granting contract and the land is not yet developed, fees for idle land which is equivalent to twenty percent or less of the fees for granting the landuse right shall be collected。 (2) To have fixed premises for business operation。 (4) To have sufficient professional and technical personnel。s government at or above the county level in the place where the registration authority is located. Article 30 The proportion of registered assets of a real estate development enterprise to its total investment shall ply with the relevant regulations of the State. Where a real estate development enterprise develops real estate in phases, the amount of phased investment shall be mensurate with the scale of the project and the capital shall be put into construction of the project on schedule as agreed upon in the contract for granting the landuse right. Chapter IV Transaction of Real EstateSection 1 General ConditionsArticle 31 In the transfer or mortgage of real estate, the ownership of the house and the landuse right to the house site shall be transferred or mortgaged therewith. Article 32 The basic land price, standard land price and replacement prices for houses of various types shall be determined and made public regularly. Specific measures shall be formulated by the State Council. Article 33 The State shall practise an appraisal system for real estate prices. The appraisal of real estate prices shall adhere to the principles of justice, fairness and openness, and be carried out according to the technical standard and appraisal procedures prescribed by the State, based on the basic land price, standard land price and replacement prices for houses of various types and in the light of local market prices. Article 34 The State shall practise a report system for real estate transaction prices. An obligee of real estate shall, in transfer of his real estate, truthfully report the transaction price to the department designated by the local people39。 (2) The rights of real estate have been sealed up by order of the judicial organ or decision of the administrative organ pursuant to law or limited by other ways。 (4) For jointlyowned real estate, written consent of other coowners has not been obtained。 (6) The real estate has not been registered in accordance with the law and the certificate of the ownership has not been obtained。 and (2) Having invested fo