The monetary compensation amount of the demolished house is based on the benchmark price of monetary compensation announced by the government by a legally qualified real estate appraisal agency.

According to the Regulations of Hangzhou Municipality on the Administration of Urban House Demolition:

Article 26 The compensation for demolition may be monetary compensation or property right exchange.

the person to be demolished can choose the method of compensation for demolition, except as otherwise stipulated in these regulations.

article 28 the monetary compensation amount of the house to be demolished shall be assessed and determined by a legally qualified real estate appraisal agency based on the benchmark price of monetary compensation announced by the government, taking the date of issuing the house demolition permit as the evaluation time, and taking into account the specific location, building structure, building area, completion, level and decoration of the house.

the benchmark price of monetary compensation for the demolished houses shall be determined by the house demolition department in conjunction with the municipal price department according to the average unit price of the semi-annual new houses with similar lots and similar uses, and reported to the municipal people's government for approval, and published before the end of March and September each year.

Extended information:

Methods of compensation for commercial housing demolition in Hangzhou:

1. Relocation for public interests, which is based on the highest price in the surrounding market, plus decoration, demolition reward, excessive compensation and so on.

2, commercial demolition, as for what purpose, commercial profits (hotels, shopping malls, etc.) development owners can enjoy the benefits of demolition.

3. When the commercial housing is redeveloped, the owners have the priority to choose "moving back to the original place", sharing the area 1: 2, rewarding the decoration, rewarding the demolition, excessive, etc.

Reference: Baidu Encyclopedia-Regulations on the Administration of Urban House Demolition in Hangzhou.