The 5th National Partnership Auction Company, the organization in charge of conducting the auction, has just announced a temporary suspension of the auction for the land-use rights of 27 plots.
Accordingly, the temporary suspension of the auction for the land-use rights of 27 residential plots in the following areas: Ha Khau Hamlet, Dong Danh – Dong Coc, Dong Bo – Dong Chuc – Cua Cau – Dong Men (Area B – Phu Luong Ward); Sau Temple (Yen Nghia Ward) and Duoc Ward (Duong Noi Ward).
The company stated that the temporary suspension of the auction is carried out upon the request of the Management Board of Construction Investment Projects of Ha Dong District. The auction will be organized in accordance with regulations immediately after the decision of the competent authority.
Previously, the 5th National Partnership Auction Company, in collaboration with the Management Board of Construction Investment Projects of Ha Dong District, announced the auction of these 27 land plots. The auction was expected to take place on September 7th.
The auction land plots range in size from 48 to 72 square meters, with a starting price of VND 22.7-32.2 million/square meter. The deposit for each plot ranges from over VND 200 million to over VND 400 million.
The auction will be conducted in the form of direct voting with a minimum of 5-11 mandatory rounds.
Consecutive pauses in land auctions in Hanoi. Photo: Hong Khanh |
This format is similar to the land auction in Hoai Duc, which lasted for almost 20 hours, from the morning of August 19th to the early morning of August 20th, spanning 9 rounds (including 6 mandatory rounds) before concluding.
Moreover, according to real estate experts, if organized as planned, the Ha Dong auction could potentially take longer than the Hoai Duc land auctions. This is due to the starting prices of the land plots being significantly lower than the market rates in the area, while some plots require a minimum of 11 rounds of bidding.
On August 22nd, a day after the Prime Minister’s request to rectify land auction activities, Hoai Duc District canceled two subsequent auctions for 52 lots in Long Khuc Village, Tien Yen Commune, to allow an inspection team from the Ministry of Natural Resources and Environment to investigate related matters.
The auction organizer in Hoai Duc, the Lac Viet Partnership Auction Company, has also announced the suspension of the two auctions for 52 land lots. Among these, 20 lots were scheduled for auction on August 26th, and 32 lots on September 9th.
Customers who have purchased auction documents and made deposits will have their applications retained or their money refunded according to regulations. The time for re-auctioning these land lots will be announced later by the People’s Committee of Hoai Duc District.
Hong Khanh
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