Good news for the real estate market, but still have to wait

(CLO) Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA) highly appreciated the Resolution on piloting the implementation of commercial housing projects through agreements on receiving land use rights or having land use rights.

At the 8th session, the National Assembly passed a Resolution on piloting the implementation of commercial housing projects through agreements on receiving land use rights or having land use rights.

Regarding this issue, Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA) said that this is good news for real estate investors.

The Resolution on piloting the implementation of commercial housing projects through agreements on receiving land use rights or having land use rights is highly appreciated by many experts. (Photo: TTX)

However, Mr. Chau noted: Investors and real estate investors still have to wait until April 1, 2025, after the Government issues a Decree detailing and guiding the implementation of the "Pilot Resolution" of the National Assembly.

After that, investors must continue to wait for the People's Council and the People's Committee at the provincial level to specify the list of "pilot projects" for land plots that have agreed to receive land use rights or currently have land use rights to implement commercial housing projects in the locality.

During this time, Mr. Chau suggested that real estate corporations and enterprises need to carefully prepare the enterprise's capacity profile and the legal profile of the land that they have legal land use rights or the profile of the land location that the enterprise plans to propose to negotiate on receiving land use rights.

“These lands must be consistent with the land use planning, urban planning, construction, programs, and local housing development plans to be considered for commercial housing projects in order to be eligible to register to participate in the pilot project according to regulations of the Provincial People's Committee,” said Mr. Chau.

It is known that, regarding the conditions for implementing commercial housing projects through agreements on receiving land use rights or having land use rights, the Resolution clearly states that real estate business organizations are allowed to implement commercial housing projects through agreements on receiving land use rights or having land use rights that have changed the purpose of use for one or more types of land: agricultural land; non-agricultural land that is not residential land; residential land and other land in the same plot of land in the case of agreements on receiving land use rights.

The pilot implementation of commercial housing projects through agreements on receiving land use rights or having land use rights must meet the following criteria: Be implemented in urban areas, areas planned for urban development and not exceed 30% of the additional residential land area during the planning period (compared to the current status of residential land use) according to the approved land allocation and zoning plan in the provincial planning for the period 2021 - 2030. Not included in the projects specified in Clause 4, Article 67 of the Land Law.

For the case at Point a, Clause 1, Article 1 of this Resolution, the land for project implementation must not be on the list of works and projects requiring land recovery approved by the Provincial People's Council as prescribed in Clause 5, Article 72 of the Land Law.

Source: https://www.congluan.vn/tin-mung-doi-voi-thi-truong-bat-dong-san-nhung-van-phai-cho-post323708.html