Update on Land Pricing Decisions in Khanh Hoa Province
Mr. Le Huu Hoang, Vice Chairman of the People’s Committee of Khanh Hoa Province, has recently signed a decision to revoke four previously approved land price decisions. The affected projects, approved between August 16 and 20, include the Napoleon Castle I Apartment Building project on Yersin Street, as well as two large urban areas in Nha Trang: The new Le Hong Phong II Urban Area and the Phuoc Long New Urban Area.
The reason for revoking these decisions is due to their reliance on legal documents that are no longer valid. According to the Department of Natural Resources and Environment, the four land pricing proposals submitted to the Provincial People’s Committee for approval before August 1 were in line with the regulations at that time. However, the four specific land price approval decisions made by the Provincial People’s Committee after August 1, when the 2024 Land Law took effect, were based on the now-expired 2013 Land Law and its implementing decrees and circulars.
As a result, it was deemed necessary to revoke these decisions as they were issued after the law had already come into effect.
Le Hong Phong II Urban Area Project
Prior to this decision, Nguoi Lao Dong newspaper had published several articles highlighting the issues caused by land pricing uncertainties, including paralysis in the real estate market and difficulties for individuals in obtaining land-use certificates. In response, the Khanh Hoa Provincial People’s Committee had provided continuous guidance on land price appraisal for projects.
Obtaining specific land prices is of utmost importance for authorities to determine the financial obligations of involved parties and for individuals to receive land-use certificates. The prolonged delay in approving specific land prices over the past few years has caused significant financial challenges for both primary and secondary investors.
The Province with Vietnam’s Longest Coastline Will Have a “Marina City”
The project, as planned, includes a chain of golf courses, amusement parks, and themed parks nestled at the foot of the mountain. This development promises an entertainment hub, offering a unique and exciting experience to visitors seeking leisure and adventure amidst nature’s wonders.
Coastal Economic Zone: A Booming Hub with a $2.6 Billion Mega Factory, Excellent Transport Links, and Ambitious Plans for the Future
The Van Phong Economic Zone boasts excellent connectivity with easy access to the North-South Expressway. It also features a deep-water port capable of accommodating 70,000-ton vessels, and there are proposals for a new airport with an annual capacity of 1.5 million passengers.
“Khanh Hoa to Build a 654-ha Urban Area in Nha Trang City Center”
“The People’s Committee of Nha Trang City is seeking feedback on a proposal to adjust the master plan for the 654-hectare Urban – Park – New Administrative Center project in Khanh Hoa Province. This ambitious initiative aims to shape the future of the region by creating a vibrant urban hub complemented by a lush park and a modern administrative complex.”
The Real Estate Renaissance: Unveiling a Transparent Future with the 2024 Land Law
As of August 1st, the Land Law, Housing Law, and the revised Law on Real Estate Business will come into force together, marking a new era for the real estate market. The market is set to undergo a significant transition towards enhanced transparency and efficiency in its operations. To shed light on this pivotal moment, a Vietnam News Agency reporter had an insightful discussion with Mr. Dao Trung Chinh, Director of the Department of Planning and Land Resources Development under the Ministry of Natural Resources and Environment.
