How many years has the Holiday Pedestrian Street in Shujun, Chengdu become a real estate?

China's current laws stipulate that the term of use of construction land is 70 years for residential land, 50 years for industrial land, 40 years for commercial land and 50 years for comprehensive land. The service life of houses is generally longer than this period. This problem is particularly important for the purchase of private housing. Many owners can't help wondering when buying a house: does the house still belong to them when the service period is up?

Article 149 of the Property Law stipulates that the right to use residential construction land will be automatically renewed upon expiration. After the expiration of the right to use non-residential construction land, the renewal procedures shall be handled according to law. The ownership of houses and other immovable property on the land, if there is an agreement, shall be in accordance with the agreement; If there is no agreement or the agreement is unclear, it shall be handled in accordance with the provisions of laws and administrative regulations.

The right to use residential construction land is automatically renewed when it expires, so that the owners of the community can rest assured. Automatic renewal solves the conflict between land use right and house ownership in terms of time limit, eliminates the worries of second-hand house buyers about the length of land use right, and will promote the circulation of second-hand houses and improve the utilization efficiency of houses and land. Although the Property Law does not mention the fees and related issues after renewal, nor does it specify how to deal with commercial and comprehensive construction land and whether it can be automatically renewed, with the improvement of subsequent laws and regulations, supporting laws and regulations will supplement the relevant parts of the Property Law. [ 1]