A 206 million auction of an unfinished building in Jie Fangbei, Chongqing has been built for 23 years and has not been completed yet.

On October 26th, Chongqing United Assets and Equity Exchange announced that part of the projects under construction in Zone III of Fanhua Top 100 Building, No.15, minzu road, Chongqing, were publicly transferred, with a housing area of about 24,945.78 square meters and an allocated land use right area of about 1,297 square meters, with the transfer starting price of 203.41 million yuan. The first transfer period begins on October 28th and ends on November 22nd.

Upstream News Chongqing Business Daily reporter learned that the building has been designated as a "four-year project" (long-term demolition, long-term demolition, long-term demolition and long-term construction). It was started in 1996 and has not been completed yet due to various reasons.

　It is understood that the building is located at No.15, minzu road, Yuzhong District, Chongqing, at the intersection of Xinhua Road and Chopsticks Street in Xiaoshizi. Construction began in 1996.

According to the announcement, the transfer target belongs to the project under construction that has been shut down for many years. Only the main structure of the house, the external decoration and the installation of some equipment such as elevators, central air-conditioning pipes and fire hydrants have been completed, but it has not been put into use for many years, and the property has been designated as "four-year project" (long-term demolition, long-term demolition and long-term construction).

The house is used for business and office. The land use is set as commercial land, and the type of land use right is transfer. The end date of the land use right of the appraised object is November 15, 2034, and the remaining service life of the appraised object is 16.13 years as of the benchmark date.

The appraisal price of the transfer target is 225.2604 million yuan, the reserve price of the transfer is 203.41 million yuan, which is about 10% off the appraisal price, and the transaction margin is 61.02 million yuan.

The announcement also shows that there are many flaws in the subject matter of transfer, including the difference in the execution area between the arbitration commission’s ruling and the court’s ruling, etc. The house is registered under the name of Pan-China Southwest Company. If there are other court letters to seal up the house, the real estate registration center will seal up the house in accordance with the regulations. Therefore, although the inquiry has not found any other seals up, the possibility of being sealed up in the future cannot be ruled out. At present, it has not been completed and accepted, and it has been designated as a "four-year project". Now it is impossible to handle the transfer procedures,

The transfer is the transfer of state-owned assets. The transferor is Chongqing Iron and Steel Group Transportation Co., Ltd. and the approval institution is Chongqing Iron and Steel (Group) Co., Ltd.

Upstream News Chongqing Business Daily Chief Reporter liuyong Intern Deng Tingting