According to Ho Chi Minh City’s Department of Natural Resources and Environment (DNRE), in January 2024, 738 individuals were issued the first land use right certificates, ownership of houses and other assets attached to the land (red books). This brings the total number of red books issued to individuals to 1,581,704, a completion rate of 99.35%.
People processing real estate procedures at the Land Registration Office of Thu Duc City.
In contrast, 1,516,604 red books were issued to organizations, covering an area of 11,935 ha out of a total area of 129,644 ha (the area requiring red book issuance), achieving a rate of 92.5%.
Furthermore, 34,139 red books were registered for changes in real estate ownership in January 2024, with 33,498 cases involving individuals.
Nearly VND 7,800 billion collected from red book issuance
Prior to that, according to the DNRE, in 2023, red books were issued for the first time to 7,184 organizations and individuals, including 56 organizations.
Additionally, 320,729 red books were registered for changes in real estate ownership, with 313,347 cases involving individuals. Regarding the results of red book issuance for projects in 2023, the DNRE issued red books for over 22,100 houses.
According to the DNRE, the estimated revenue for the city’s budget from red book issuance activities (personal income tax and registration tax) in 2023 was VND 7,781 billion. It also generated capital for the city’s economic development from mortgage value and registered value of land changes, totaling over VND 755,000 billion.
