Ba Dinh District rebuilds old apartment buildings, how will residents be compensated?

Ngoc Khanh apartment complex was built in 1980 and has been severely degraded. Faced with this situation, the city has a plan to renovate and rebuild this area next year.

Recently, the People's Committee of Ngoc Khanh Ward, Ba Dinh District (Hanoi) has consulted people on detailed planning for the area to reconstruct, build and renovate old apartment buildings in the area.

Accordingly, the project scale is 24.08 hectares, the total population in the planning area is 17,800 people. Of which, the area proposed for renovation, reconstruction and reconstruction is about 21,364 square meters. This is an area of collective housing, encroached land for business, clusters of individual houses, and courtyards between collective houses in the area.

Impact zones in planning projects.

According to the compensation plan in the project, the old apartment floors will be compensated 1-2 times the usable area of the demolished apartment. For the old apartment floors that are expanded or encroached upon, the compensation rate will be about 0.3 times the usable area.

The ward’s land use plan shows that the land area for building the new apartment building will be about 16,206 square meters, accounting for 6.7% of the total scale of the project. The project’s population is expected to be about 4,272 people.

Currently, Ngoc Khanh area is assessed to have low land use efficiency, high construction density, lack of infrastructure such as trees, parking lots and complex traffic system.

The renovation aims to develop according to the TOD model (transit-based urban development), helping to improve land use efficiency. Social infrastructure, trees, and parking lots will be added. In addition, traffic infrastructure and technical infrastructure will also be synchronized.

Previously, in April 2024, the Secretary of the Hanoi Party Committee and the working delegation directly inspected apartment building A, in the old Ngoc Khanh apartment complex (Ngoc Khanh ward, Ba Dinh district). This is one of the level D dangerous apartment buildings, where dozens of households had to be evacuated to temporary housing to ensure safety.

According to the direction of the Party Committee leaders, the goal is to select an investor by the end of 2024, so that in 2025, Hanoi will start renovating and rebuilding 1-2 old apartment buildings. In particular, Ba Dinh district will be the priority area for implementation in the first phase of the plan.

In a recent dispatch from the Ministry of Construction, Ba Dinh is one of the districts where apartment prices are unusually high compared to the market situation and people's needs, along with other districts such as Tay Ho, Hai Ba Trung, Hoai Duc...

Currently, some old apartment buildings in Ngoc Khanh ward are being sold by brokers at an average price of about 40 - 45 million VND/m2. This amount is equivalent to the age of these apartment buildings. As for old apartments, the price can be up to 60 - 70 million VND/m2.

Source: https://baodautu.vn/batdongsan/quan-ba-dinh-xay-moi-khu-tap-the-cu-nguoi-dan-duoc-den-bu-the-nao-d224723.html