Vice Chairman of Ho Chi Minh City People's Committee: New land price list is suitable for reality

On the afternoon of October 22, the Ho Chi Minh City People's Committee held a press conference to announce Decision No. 79/2024 of the City People's Committee on amending and supplementing Decision No. 02/2020 of the City People's Committee regulating land price lists in the area.

Decision No. 79/2024 takes effect from October 31, 2024 to December 31, 2025.

Speaking at the press conference, Vice Chairman of Ho Chi Minh City People's Committee Bui Xuan Cuong emphasized that this is an important decision, affecting many socio-economic aspects.

Vice Chairman of Ho Chi Minh City People's Committee Bui Xuan Cuong speaks at the press conference.

Mr. Bui Xuan Cuong commented that the construction of land price list according to Decision 02 is limited by regulations on land price framework, regulations of Land Law 2013, so over time it becomes outdated and no longer suitable for practical situation.

Implementing the provisions of the 2024 Land Law and Decree 71, the Ho Chi Minh City People's Committee has directed the Department of Natural Resources and Environment (DONRE) and relevant departments to develop a land price list in accordance with the 2024 Land Law and the actual situation in the locality. During the development process, Ho Chi Minh City has listened to and absorbed many opinions of local people and businesses, which have received much attention and reflection from the press in recent times.

"Adjusting the land price list in the city according to market principles aims to create consistency with reality and with the provisions of the 2024 Land Law," Mr. Bui Xuan Cuong emphasized.

Accordingly, the adjusted land price increased by about 4-38 times compared to the price specified in Decision 02/2020. The highest is on Nguyen Hue, Le Loi, Dong Khoi streets (District 1), the land price is up to 687.2 million VND/m2, an increase of more than 4 times compared to before. Ham Nghi street, Han Thuyen street (District 1) has a price of about 430 million VND/m2, an increase of about 4 times compared to the old price list.

Land prices in Can Gio district are relatively lower than in some other districts. Typically, in Thieng Lieng hamlet residential area, the price is 2.3 million VND/m2, Thanh Binh residential area, Thanh Hoa residential area has a price of 3 million VND/m2.

Mr. Nguyen Toan Thang - Director of the Department of Natural Resources and Environment of Ho Chi Minh City analyzed the benefits of the adjusted land price list, specifically:

Fees, taxes, land use fees and financial obligations on land of land users, including organizations and individuals, especially households and individuals, are transparent and fair.

Penalties for land violations have increased. This contributes to deterring and reducing violations, cleaning up and developing the real estate market in a healthy manner.

Determining the starting price for auctioning land use rights in land plots with completed technical infrastructure is done faster and creates conditions to improve access to land for individuals and organizations in need.

For people whose land is recovered, the determination of resettlement prices will be more public, transparent and faster than before, ensuring fairness in land recovery prices and resettlement land sale prices.

Besides the positive impacts, the adjustment of land price list also affects the demand for land use purpose change of some people.

Previously, in early July 2024, the Ho Chi Minh City People's Committee assigned the Department of Natural Resources and Environment to develop an adjusted land price list according to simplified procedures. By July 30, the Department of Natural Resources and Environment had submitted the adjusted land price list to the City Land Price Appraisal Council.

However, at that time, the adjusted land price list received many mixed opinions. Most people thought that the land price increase was too high, which would lead to an increase in taxes and fees when people carry out administrative procedures related to land.

After receiving many comments and adjusting the land price accordingly, on October 14, the Department of Natural Resources and Environment resubmitted the land price list to the City Land Price Appraisal Council. In the appraisal report, the council agreed with the proposal of this Department.

Thy Hue

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