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Reporter of Meijing: Chen Li Editors of Meijing: He Xiaotao, Chen Mengyu

Recently, a house withdrawal plan for the fourth phase of Xi'an's Gaoke Luwan International Community, a popular project that was once the site of a "lottery for tens of thousands of people", has been circulated online.

The plan shows that due to the "transit area occupied by Yanminghu Station of Metro Line 5", the plot ratio of the fourth phase of residential buildings in the previous purchase contract of 3.1 will be adjusted to 3.75 (tentative), so compensation and return of the house will be made according to the contract, and two solutions are proposed:

If the contract continues to be performed, the owner may demand compensation from the project, the maximum amount of which shall not exceed one thousandth of the total contract price;

If the contract needs to be terminated and the buyer needs to return the house, the owner shall terminate the contract according to the contract and notify the buyer in advance, refund the full house price within 15 days, and compensate the buyer for the loan interest from the payment date, with the interest rate not lower than the loan interest rate of 4.35% during the same period. The seller shall pay a penalty of 0.1% of the total house price.

On July 17, an industry insider in Xi'an confirmed the authenticity of the plan to a reporter from the Daily Economic News. "It is mainly aimed at owners of several buildings that were delivered last year but have not yet obtained certificates. Building 1 and Building 5 are not affected and can be sold normally."

To make way for the subway, the developer proposed a refund plan

The plan shows that the main reason for the withdrawal is that due to the transit area of ​​Yanming Lake Station of Xi'an Metro Line 5, the community's floor area ratio has increased from the previous 3.1 to 3.75 (tentative).

According to the plan, Yanming Lake Station is Xi'an's first project that integrates a rail transit station with housing and supporting commercial comprehensive development, with a total construction area of ​​approximately 66,000 square meters. Currently, the three rental housing buildings and supporting commercial entities have been fully topped off.

"There is a subway station right at the entrance of the community." Zhang Lei (pseudonym), a real estate agent at Beike who is in charge of the area, told the China Business News reporter.

At the same time, Gaode Map also shows that Building 1 and Building 5 of Phase 4 of Gaoke Luwan International Community are the two buildings closest to the subway station.

In response to this regulation adjustment, the developer proposed two solutions:

The first type is for buyers who cancel the contract: if the buyer cancels the contract according to the contract and gives advance notice, the developer will refund the full amount of the house price within 15 days and compensate the buyer for the loan interest from the payment date at an interest rate of 4.35%. At the same time, the developer will pay the buyer a penalty of 0.1% of the total house price.

If calculated based on the certification price of Phase 4 of Gaoke Luwan International Community in May 2021, a three-bedroom, two-living room and one-bathroom house of approximately 105 square meters has a total price of about 1.3 million yuan. If the loan is 1 million yuan, with a term of 30 years and an equal installment of principal and interest, the average monthly interest is about 2,200 yuan. The current repayment period is 36 months and the interest is 79,200 yuan; plus a penalty of 0.1% of the total house price, which is 1,300 yuan, then the principal and compensation paid by the buyer for the purchase will total approximately 1.38 million yuan.

However, homebuyers who choose this option need to go through the early loan repayment and mortgage release procedures on their own before they can get a refund, which is difficult for many people who have urgent needs.

Another option is for home buyers who do not cancel the contract: after the owner provides relevant evidence to prove the loss, the developer will compensate the owner with a maximum of one thousandth of the total contract price. Based on this calculation, for a house with a total price of 1.3 million yuan, the developer can receive a maximum compensation of 1,300 yuan if the buyer does not cancel the contract.

"Building 1 and Building 5 in the community were delivered in 2020, and the owners have basically completed the renovation. The remaining buildings were delivered last year." Zhang Lei told the reporter from the China Business Network that currently the only buildings that can be sold to the public in the community are Building 1 and Building 5. The other buildings cannot be sold to the public because they have not yet obtained relevant certificates.

In this regard, the project also communicated with the bank, the Housing and Urban-Rural Development Bureau, and the notary office to clarify the check-out process and distinguish between the check-out and compensation plans for unfinished houses and decorated houses.

Two "Ten Thousand People Shake"

Gaoke Luwan International Phase 4 was once a popular project in Xi'an that attracted tens of thousands of people.

Public information shows that the total land area of ​​the entire Gaoke Luwan International Community is 562 acres, and its residential products include high-rise buildings, villas, low-rise buildings, etc. The average price when it was first launched in August 2014 was 5,500 yuan per square meter.

The four phases involved this time have been sold to the public since 2019. 528 and 248 housing units were launched on March 11, 2021 and May 6, 2021 respectively, both attracting more than 10,000 groups of home buyers to sign up, with a winning rate of only 5.10% and 1.86%, making them members of the nine "10,000 people lottery" projects that year.

However, due to changes in the project plan, the "two books and one form" required for delivery of the house (i.e. the residential quality guarantee and residential instruction manual, and the "Construction Project Completion Acceptance Registration Form") are incomplete. To date, the project is still in pre-delivery and the real estate certificate has not yet been processed.

According to inquiries by reporters from the China Business Network, in July 2022, the Xi'an Municipal Natural Resources and Planning Bureau issued a "Notice on the Adjustment of Land Use Nature and Planning Conditions for the Metro Line 5 Yanming Lake Station Metro Cover Property Project". The original second-class residential land was changed to a mixed affordable housing land for urban rail transit.

Before that, in March 2020, the land was changed from the then second-class residential land to rail transit land and mixed commercial land.

The owners complained on multiple channels including the People's Daily Online government message board. According to the reply from the People's Government of Baqiao District, Xi'an in February this year: the scope of the project land has changed due to the transit of the subway, the construction unit has not completed the land planning adjustment procedures, does not meet the planning acceptance requirements, and the construction unit has not applied for planning acceptance procedures.

On July 17, a reporter from the China Business Network consulted project staff posing as a home buyer and learned that the problems with the delivery of the fourth phase and the real estate certificate were all caused by the fact that the land planning adjustment had not yet been completed.

However, regarding the refund plan, some owners are worried that "checking out will result in losing both money and life", and "the interest compensation cannot cover the mortgage interest, and the penalty compensation is not even enough to cover the penalty for early repayment."

reporter| Chen LiEditor|He Xiaotao Chen Mengyu Gai Yuanyuan

Proofreading|Sun Zhicheng

｜Original article from nbdnews, Daily Economic News｜

Reproduction, excerpting, copying and mirroring are prohibited without permission

Daily Economic News