China Housing & Land Development, Inc. - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - May 15, 2012



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v2.4.0.6
Real Estate Held for Development or Sale
3 Months Ended
Mar. 31, 2012
Real Estate Held for Development or Sale

Note 5 – Real Estate Held for Development or Sale

 

The following summarizes the components of real estate inventories as at March 31, 2012 and December 31, 2011:

 

    March 31,
2012
    December 31,
2011
 
Real estate projects completed and held for sale                
JunJing I project   $ 3,379,515     $ 3,381,448  
JunJing II project phase one     204,635       1,321,972  
Tsining 24G project     44,884       44,910  
Gangwan project     33,150       37,847  
Tsining Home IN project     60,291       60,325  
Real estate completed and held for sale   3,722,475       4,846,502  
                 
Real estate projects held for development                
Puhua project     122,808,227       115,798,346  
Tangdu project     4,708,049       4,710,742  
JunJing III project     3,463,761       9,299,511  
Park plaza project     12,394,004       8,471,800  
Jiyuan Project     13,171,671       13,151,101  
Golden Bay project     8,188,250       5,657,731  
Other projects     3,535,276       1,356,331  
Construction materials     126,105       190,252  
Real estate held for development     168,395,343       158,635,814  
                 
Total real estate held for development or sale   $ 172,117,818     $ 163,482,316  

 

The Company’s Tangdu project is essentially a land use right plus miscellaneous pre-construction costs. The Company still owns the legal title to this land use right however the government is negotiating with the Company regarding a potential transfer back to the government. If the land use right is transferred back to the government, the Company believes the government will refund all the costs incurred by the Company.

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