Demolition compensation refers to the compensation given by the demolisher to the owner of the demolished house according to the Regulations on Expropriation and Compensation of Houses on State-owned Land. Demolition compensation can be monetary compensation, housing property rights exchange, or a combination of monetary compensation and property rights exchange.
Monetary compensation
Monetary compensation is a professional evaluation of the demolished houses by professional evaluation institutions according to different legal basis, and generates multiple compensation amounts that can be relied on. There are three statutory assessment criteria:
Market evaluation price: refers to the real estate market price of the demolished house. It is an activity that professional appraisal institutions that meet the requirements, follow the appraisal principles and follow the appraisal procedures, choose appropriate appraisal methods, comprehensively analyze the factors that affect the real estate price, and estimate and judge the objective and reasonable price or value of real estate at the appraisal time.
Average transaction price of commercial housing: refers to the average transaction price of ordinary residential commercial housing in the same region and type, which is regularly summarized, calculated and published by relevant departments every quarter.
Replacement price: refers to the normal price of a new building with the same function and use as the appraised object determined by the appraisal institution according to the price level at the appraisal time by using the building materials and construction technology at the appraisal time.
The above three prices are the legal basis for compensation for demolition, but they have different uses and are applicable to different situations.