Evergrande bought the land through local developer Changchun Jitao Real Estate Development Co for 601 million yuan ($93 million) in an auction on June 17, part of a series of coordinated sales by 22 of China’s biggest cities.
Evergrande, which did not respond to a Reuters request for comment, has been strapped for cash with over $300 billion in liabilities.
It failed to pay nearly $150 million worth of coupons on three bonds due on Monday, after missing two other bond payments in September.
The local developer paid a deposit of 120.3 million yuan but has yet to fully make the next round of payment equal to 50% of the transaction price, the Changchun Natural Resources and Planning Bureau said in a statement to Reuters when asked to confirm the sale.
Changchun Jitao Real Estate was required to pay the 50% within 30 days of the sale, but has only paid 20%, the bureau said in a faxed statement.
It still owes about 180 million yuan ($28 million), Reuters calculations show.
Changchun Jitao Real Estate has been urged to make the 50% payment in full, the bureau said in a statement dated Oct. 11.
Payment for the rest of the deal is not due yet, it said.
The plot of land, measuring 116,519 sq m (28.8 acres), is the only piece of land that Evergrande has bought this year in auctions conducted by 22 cities, which include Beijing and Shanghai, according to a Reuters analysis of public notices.