Core Points - Hangzhou's Planning and Natural Resources Bureau announced the auction of a state-owned construction land use right, with a starting price of 524.76 million yuan, designated for residential use compatible with commercial and business purposes, set to officially auction on August 11, 2025 [1] Group 1 - The land parcel is located in Xiaoshan District and will be auctioned through open bidding, following the principle of "highest bidder wins" [1] - The total area of the land is 20,990 square meters, with a construction area of 52,475 square meters [2] - The land use right has a duration of 40 years [2]