Hanoi 'blows whistle' on unusually high land auctions

According to the Hanoi People's Committee, recently in the city, there has been a phenomenon of land use rights auctions with winning prices many times higher than the starting price. For example, land auctions in Thanh Oai district were 7-8 times higher, and in Hoai Duc district, the highest price was 18 times higher than the starting price.

The Hanoi People's Committee believes that the above unusually high bids may affect socio-economic development, investment and business environment, housing and real estate markets.

The Hanoi People's Committee has just requested the Department of Natural Resources and Environment to coordinate with relevant departments and branches to inspect all land auctions in Thanh Oai and Hoai Duc districts in the past time. (Photo: ST)

Therefore, the City People's Committee requests the Hanoi Department of Natural Resources and Environment to coordinate with relevant departments and branches to inspect all land auctions in Thanh Oai and Hoai Duc districts in the past time. From there, promptly detect and resolutely handle violations of the law (if any). Review the process, procedures, regulations... on land use rights auctions of districts, towns and cities. At the same time, report to the City People's Committee to direct the implementation of measures to ensure the organization of land use rights auctions according to regulations.

The City People's Committee also requested the People's Committees of districts, towns and cities to review all land use rights auctions in the area to organize implementation in accordance with legal regulations.

Previously, from mid-August until now, many suburban districts have organized auctions for residential land use rights. However, the winning land auction prices were very high, for example, in Thanh Oai district, the winning auction price was over 100 million VND/m2, the winning auction price in Hoai Duc district was up to 133 million VND/m2. Meanwhile, the average land price in the above areas is from 40-60 million VND/m2. Public opinion believes that there is a collusion and association of some subjects to inflate land prices for profit.

Regarding this issue, on August 21, the Hanoi Department of Natural Resources and Environment said it was coordinating with the Hanoi City Police to verify and clarify the collusion and land price inflation of a number of related subjects.

On August 21, the Prime Minister also issued a telegram requesting the Chairmen of the People's Committees of provinces and cities to direct agencies and functional units to review the organization of land use rights auctions in the area to ensure compliance with the law, publicity, transparency and timely detection and strict handling of violations of legal regulations in land use rights auctions, preventing acts of taking advantage of land use rights auctions for profiteering, causing market disruption.

Source: https://www.congluan.vn/ha-noi-tuyt-coi-cac-vu-dau-gia-dat-cao-bat-thuong-post308867.html