News

The Beltway 3 Project: Affected Residents to Benefit from Installment Purchase of Relocation Homes

Residents affected by the Vành Đai 3 Road project in Ho Chi Minh City will be offered a unique opportunity to secure their future homes. For those eligible to purchase resettlement apartments but lacking the financial means to make a lump-sum payment, a flexible installment plan is now on the table. This considerate option ensures that everyone can transition smoothly into their new accommodations, marking a thoughtful step towards accommodating the needs of all impacted individuals.

Administrator

6 July, 2024

The Ho Chi Minh City People’s Committee Office has announced the conclusions of Vice Chairman Bui Xuan Cuong regarding the resolution of difficulties in settling payments for resettlement apartments for households affected by the Ring Road 3 project.

For households eligible for resettlement, the Vice Chairman has instructed the Department of Natural Resources and Environment to guide local authorities in implementing regulations on compensation, support, and resettlement in cases of land revocation by the state.

For households whose houses have been completely cleared, lacking the conditions for resettlement and with no alternative accommodation, the People’s Committee has tasked the Department of Natural Resources and Environment to compile a report for the Steering Committee for Compensation, Support, and Resettlement to consider and decide. The report should clarify the conditions, criteria, principles, payment methods, and relevant penalties after obtaining approval for implementation.

Construction of the Ring Road 3 project in Thu Duc City. Photo: A.T.

Previously, on June 6, 2024, the Command of Project Component 2 of the Investment Project for Building Ho Chi Minh City Ring Road 3 reported to the City People’s Committee about the difficulties in settling payments for resettlement apartments for households receiving compensation lower than the apartment selling price.

According to the Command of the Ring Road 3 Project, at a meeting in May 2024, the People’s Committee of Hoc Mon District proposed a policy of installment payments for households ineligible for resettlement who wish to purchase apartments but have insufficient compensation. Representatives of other localities along the project route shared similar opinions.

The Department of Natural Resources and Environment was assigned by the People’s Committee to advise and compile a report to formulate a policy for households ineligible for renting or purchasing resettlement apartments.

However, the Department of Construction suggested that the form of installment payment for resettlement apartments under Decision No. 28/2018 of the Ho Chi Minh City People’s Committee would be more favorable for localities that have already approved the compensation, support, and resettlement plan.

After consolidating the opinions of the departments and sectors, the Command of the Ring Road 3 Project proposed that the Ho Chi Minh City People’s Committee approve the continuation of implementing Decision No. 28/2018 for cases eligible for purchasing resettlement apartments but lacking one-time payment capability.

Mr. Vo Trung Truc, Deputy Director of the Department of Natural Resources and Environment and Vice Chairman of the Ring Road 3 Project Command, stated that most of the households giving up land for the project are workers with limited financial means to make a one-time payment for resettlement apartments. Therefore, approving installment payments for these households is not only compliant with regulations but also demonstrates humanity and practicality.

Anh Phuong