The highest urban land price in Ho Chi Minh City is 687.2 million VND/m2 on central city streets such as Dong Khoi and Le Loi (District 1).
On October 16th, Mr. Phan Van Mai, Chairman of the People's Committee of Ho Chi Minh City and Chairman of the City's Land Price Appraisal Council, signed and approved the appraisal report on the draft Decision replacing Decision 02/2020 on land prices in the city.
Accordingly, the City Land Price Appraisal Council unanimously agreed with the proposal of the City Department of Natural Resources and Environment, the opinion of the Council's working group, and the draft decision to amend and supplement Decision 02/2020.
At the same time, the Department of Natural Resources and Environment of the City is tasked with completing all necessary documents and procedures in accordance with the law and submitting them to the City People's Committee for consideration and decision.
The adjusted land price list will be in effect from the date of signing and issuance until December 31, 2025.
 |
| The highest land price in Ho Chi Minh City is 687.2 million VND/m2. Photo: Le Toan |
According to the report from the Department of Natural Resources and Environment, the highest urban land price in the city is 687.2 million VND/m2 on central city streets such as Dong Khoi and Le Loi (District 1). Compared to the previous draft land price list (810 million VND/m2), the finalized price has decreased by 122.8 million VND/m2, but is still 4.2 times higher than the current price list.
In the districts of Hoc Mon, Nha Be, Binh Chanh, Can Gio, and Cu Chi, land prices are expected to increase significantly, but compared to the previous draft of the revised land price list, they have decreased sharply. For example, land prices along the parallel road to National Highway 22 (from Nguyen Anh Thu to Ly Thuong Kiet) - which increased 51 times in the old draft - have now been adjusted down to 23 times.
For land used for non- agricultural production and business purposes, excluding commercial and service land, including: industrial parks, export processing zones, Quang Trung Software Park, industrial clusters, and mineral resources; land used for national defense and security purposes; and land used for public purposes… the price will vary depending on the district.
Specifically, in districts 1, 3, 4, 5, 6, 10, 11, Binh Thanh, and Phu Nhuan, the land value is calculated at 50% of the price of non-agricultural production and business land that is not commercial or service land. In districts 7, 8, 12, Tan Binh, Tan Phu, Binh Tan, Go Vap, and Thu Duc City, the land value is calculated at 60% of the price of non-agricultural production and business land that is not commercial or service land.
In Binh Chanh, Hoc Mon, Cu Chi, Nha Be, and Can Gio districts, the valuation is 75% of the land price for non-agricultural production and business land that is not commercial or service land.
According to the assessment of the City's Land Price Appraisal Council, in previous proposals, the Department of Natural Resources and Environment collected land price information from price databases and market land transfer prices, and based on the actual socio -economic situation of the city, proposed land price lists for residential land suitable for each district and Thu Duc City. At the same time, it reviewed and balanced price levels for areas bordering different districts and Thu Duc City, as well as for road sections and routes within the same area.
Regarding agricultural land, the drafting agency's use of agricultural land price data for compensation calculation within the city to propose agricultural land prices does not fully reflect the pure agricultural land price for cultivation and production activities.
In the new submission, the Department of Natural Resources and Environment has developed a land price list for agricultural land based on the agricultural land prices stipulated in Decision 02/2020 multiplied by the land price adjustment coefficient (coefficient K) to ensure stability for agricultural production activities, which is appropriate.
This also does not affect cases where the state reclaims land, because in such cases, the land owner will have their land valued at market price to calculate compensation. At the same time, the Department of Natural Resources and Environment has developed a land price list for agricultural land in the High-Tech Agricultural Zone, maintaining the current rates as appropriate.
For commercial and service land, the Department of Natural Resources and Environment has developed a land price list for commercial and service land based on an assessment of the socio-economic development characteristics of each area to propose appropriate prices for each area and location.
For non-agricultural production and business land that is not commercial or service land, similar to commercial and service land, the Department of Natural Resources and Environment has assessed the socio-economic development characteristics of each area to propose appropriate land prices for non-agricultural production and business land.
Based on that, the Department of Natural Resources and Environment has proposed that land prices for non-agricultural production and business land with specific characteristics (industrial park land, export processing zone land, Quang Trung Software Park, industrial clusters, mineral land); land used for national defense and security purposes; and land used for public purposes are appropriate.
Source: https://baodautu.vn/batdongsan/bang-gia-dat-tphcm-chot-gia-dat-cao-nhat-6872-trieu-dongm2-d227607.html
Comment (0)