The slowdown in the sector has also hurt local governments, which rely on land sales for revenue.
Some local governments, which rely on land sales for revenue, have subsequently lowered prices to attract more bids.
The policy-induced property slowdown is stressing the finances of local governments, which rely on land sales for revenue.
Home sales and prices in major cities have subsequently fallen, although this has put pressure on property developers and on local governments that depend on land sales for revenue.
In fact, revenue from land sales was down by nearly a third, while home sales jumped 35%.
FORBES: Pricing Power Boosts PulteGroup, Bodes Well For Builders
Drilling services giant Halliburton released its U.S. quarterly earnings report this week, highlighting record revenue generation due to expanded land-based drilling operations and international activities.
China has more than 1, 000 county-level governments and hundreds of city and municipal councils that rely on revenue from local taxes, land sales and central-government transfers because rules bar most from selling bonds.
FORBES: China's Cities Take Steps To Stimulate Home Purchases
The private enterprises provide employment and tax revenue while the local state provides land, tax breaks, and free or cheap utilities.
Observers in the media sector have noted that the U.S. seems to have become more attractive to British media outlets as newspapers in the Land of Liberty struggle with falling circulation and revenue.
On the land-claims front, there have been a number of cases where aboriginal insistence that their rights be recognised before industrial development proceeds has led to agreements on job creation, revenue-sharing, training and land ownership.
In one form or another land accounts for over a third of all government revenue.
That could mean continued strains on local governments that depend on land sales to property developers for much of their revenue.
Land sales make up 30 percent of local government revenue and in some cities account for more than half, according to a June 2011 report by UBS AG.
FORBES: China's Cities Take Steps To Stimulate Home Purchases
Ground-rents and the ordinary rent of land are, therefore, perhaps, the species of revenue which can best bear to have a peculiar tax imposed upon them.
For them, grabbing residential land and reselling it to developers is a huge source of revenue.
The plan is to transform the area into a huge mixed-use development zone, which will include the largest urban park built in Europe in the last 150 years, and then use revenue from home sales rents to pay for the land purchase.
Vanke, China's largest developer by revenue, will buy the stake from Singapore's Keppel Land Ltd.
Many poor people who live in or near forests may actually welcome the opportunity to farm on deforested land and bureaucrats in distant capitals may think that unsustainable and low-revenue-yielding forest operations are politically preferable to what they perceive as expensive alternatives.
The city, he notes, has a balanced budget with conservative estimates of future revenue that are not dependent on growth in real estate taxes or land sales.
In a move that could spell more trouble for Dubai's Emaar Properties, revenue officials from India's Enforcement Directorate Thursday raided Emaar MGF Land, the Indian unit of the UAE developer, in New Delhi for allegedly violating foreign exchange regulations.
The Internal Revenue Service has a low-profile but sweeping effort under way to use state land-transfer records for evidence of omissions in reporting gifts of real estate to family members.
Such transparency also helps vending operators land accounts with commercial landlords, schools and municipalities, which typically pocket 5% to 25% of the vending revenue generated on their premises.
In the delta, General Obasanjo is unpopular, because people remember his 1979 land-use law which gave all mineral rights to the state and, in their eyes, deprived them of revenue from the oil beneath their farms.
"Various options were looked at for the Ransomes Business Park land to see whether it would be preferable to sell it or use it for alternative purposes, where possible maximising revenue for the constabulary, " Mr Clayton said.
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