Research On Land-use Right Definition And Evaluation Methods Of Urban Underground Space

China is in the period of accelerating development period. The problems of urban growth and farmland protection, crowded city, traffic congestion, environmental pollution, ecological imbalance, lack of infrastructure and other issues have been resulted in affecting city function and urbanization process. To solve this problem, we must carry out a 'compact city' strategy by reasonably utilizing urban underground space, turn the plane expansion model into three-dimensional development pattern, which could be increase the urban capacity, ease city traffic, improve the urban environment, promoting conservation and intensive land use, building a resource-saving and environment-friendly society. Therefore, the development and utilization of urban underground space has an important practical significance for sustainable development of social economic in city.However, there are shortages in many aspects due to the large-scale of commercial development and utilization of urban underground space in China is still in the very early stage. In this paper we analyzed current situation on development of the urban underground space in China, including economic, planning, legislation, marketing and management. Based on Article 36 of Proprietary Right, "Construction land use rights can be established on the land surface, on the ground and underground separately", the paper proposed that on the basis of separation state ownership from managerial authority, a scientific management system should be established by introducing three-dimensional space management system to define the three-dimensional managerial authority among land surface, underground and aerial space. We proposed to apply three-dimensional coordinate to define the location shape, boundaries, structure and ownership for the space in underground and land surface, which will be managed hierarchically for different users. Meanwhile, the underground land price assessment methods are discussed after analyzing the applicability of different land evaluation methods. According to the restrictions on market growth, the income approach can be applied to the active districts of shop lease and the surplus method can be applied to the current use as car parks. On the basis of the available standard land price in city and town, project planning, amount of funds used and expected revenue, the utilization ratio between ground and underground spaces, the standard land price system of under ground space land-use right can be established by revision assessing coefficient of land price distribution ratio.