Me Linh district auctions 32 land lots starting from 21.7 million VND/m2

On the afternoon of September 18, Vietnam Auction Joint Stock Company organized an auction of land use rights for plots of land in Bach Da village, Kim Hoa commune, Me Linh district, Hanoi city (phase 6).

This auction has a total of 32 plots of land being auctioned with areas ranging from 73.5 - 187.5 m2/plot, starting prices ranging from 21.7 - 32.8 million VND/m2. The lowest deposit for a plot of land is over 360 million VND and the highest is over 1.2 billion VND.

The auction is conducted in ascending price steps, each step is 200,000 VND, the customer with the highest bid will own the auctioned land.

Representative of Vietnam Auction Joint Stock Company stated the auction rules.

At the auction, in addition to the auction organizer, the auction participants also had the presence of Mr. Dinh Ngoc Thuc - Director of the Land Fund Development Center of Me Linh district, who directly participated in monitoring this auction.

Initially, the 32 plots of land were scheduled to be held on the afternoon of September 12. However, a representative of the People's Committee of Me Linh district said that due to the impact of storm No. 3 and its circulation, it is forecasted that there will continue to be widespread rain, rising river water causing flooding in many areas, making travel difficult.

Therefore, to focus on flood prevention and control, ensuring people's lives and property, the Land Fund Development Center proposed that the company change the auction time to 2:00 p.m. on September 18.

Map of auctioned land plots in Bach Da village, Kim Hoa commune, Me Linh district, Hanoi.

According to Nguoi Dua Tin , from around 12 noon on September 18, many investors, customers, and brokers gathered around the Me Linh District Cultural, Information and Sports Center to prepare to participate in the auction.

Talking to Nguoi Dua Tin , Ms. Phung Thi Hoa (38 years old, Nam Tu Liem) - an investor who has participated in many auctions in suburban districts of Hanoi, expressed her opinion that land plots in Me Linh district have reasonable prices in the region of about 35 - 40 million VND/m2, the highest is only less than 50 million VND/m2.

The main reason for the above price, Ms. Hoa said, is based on the potential of real estate in Me Linh district, the general price of the surrounding area and the full legality of these projects. Ms. Hoa personally participated in the auction for 5 plots of land in this Me Linh district area.

Unlike Ms. Hoa, Mr. Vu Van Duc (42 years old, Hanoi) said that the final price is still difficult to determine because it depends on the needs of the auction participants.

"People who buy houses to live in always pay lower prices than investors, it's hard to predict whether the price will suddenly increase or decrease," Mr. Duc said.

Customers line up to check in and participate in the auction.

Previously, in June 2024, Me Linh district successfully auctioned 51 land lots in Lien Mac commune. The land lots have an area of ​​95 - 263.2 m2.

The starting price is about 18.4-20.6 million VND/m2, the highest winning bid is determined to be 38.8 million VND/m2. The total amount collected for the budget is 169 billion VND, 47 billion higher than the starting price.

In 2024, Me Linh district plans to auction about 500 land plots, mainly concentrated in the four communes of Kim Hoa, Lien Mac, Tam Dong and Trang Viet. These are all plots of land in beautiful locations, ahead of the Ring Road 4 project.

Revenue from land use rights auctions will be used by the district to invest in infrastructure construction to develop the socio-economic system to meet the criteria for becoming a district after 2025 and a city directly under the capital after 2030.

Recently, in Hanoi, there have been a number of cases of land use rights auctions with winning bids many times higher than the starting price.

A typical case is in Thanh Oai district with an unusually high auction price of up to 100 million VND/m2 or in Hoai Duc district, a sudden price of up to 133 million VND/m2 was recorded.

Then, when it came to deposit collection, as of September 16, although the payment deadline had passed, only 13/68 plots had fulfilled their financial obligations. Among the plots that had paid in full, the highest plot cost more than 55 million VND/m2.

However, all plots of land with winning prices from 80 million VND/m2 to more than 100 million VND/m2 were forfeited.

The auction in Thanh Oai was expected to raise more than 400 billion VND. However, with only 13 plots of land fulfilling their financial obligations, the total amount raised was only more than 80 billion VND, or 20% of the expected amount.

Accordingly, many land auctions in the suburbs of Hanoi have had to be postponed or rescheduled to wait for the inspection team of the Ministry of Natural Resources and Environment to draw conclusions about price inflation and speculation, especially in areas in Hoai Duc and Thanh Oai districts.

In a recent meeting, Deputy Minister of Natural Resources and Environment Le Minh Ngan said that there is currently no conclusion on whether there are any loopholes or violations in the auction process in the two districts. The Ministry is still continuing to review and if violations are discovered, it will advise competent authorities on a handling plan.

Source: https://www.nguoiduatin.vn/ha-noi-huyen-me-linh-dau-gia-32-lo-dat-khoi-diem-tu-217-trieu-dong-m2-204240918114836452.htm