The Chairman of the Hanoi People’s Committee, Tran Sy Thanh, has signed Decision No. 55/2024/QD-UBND on issuing regulations on some contents within the authority of the city People’s Committee on determining specific land prices in the area.
The above decision stipulates the main factors affecting land prices and the criteria for forming factors affecting land prices to analyze and determine a certain level of similarity and adjustment of each factor affecting land prices.
Hanoi stipulates a number of contents within the authority of the City People’s Committee on determining specific land prices in the area, effective from September 16.
Specifically, the factors affecting land prices and the criteria for forming factors affecting land prices to analyze and determine a certain level of similarity and adjustment of each factor affecting land prices between the valued asset and the comparable asset for non-agricultural land include:
Regarding the location and site of the land lot or land area: The distance in order of priority to the administrative center; commercial center; education and training; parks, amusement parks; markets, medical facilities (according to the location and status of the project, land area, land lot), the adjustment level difference is no more than 5%; land price according to the city’s land price frame (according to the location of the project, land area, land lot), the adjustment level difference is no more than 15%.
Regarding traffic conditions: Type of road (asphalt, concrete, earth, and other road structures) adjacent to the project, land area, land lot according to the status quo at the time of land price appraisal, the adjustment level difference is no more than 5%; road width (including sidewalk) adjacent to the project, land area, land lot, the adjustment level difference is no more than 10%; the number of roads adjacent to the project, land area, land lot (including roads and alleys), the adjustment level difference is no more than 5%.
In case of estimating the transfer price of separate land and housing: The organization determining the land price shall conduct a survey, collect and evaluate additional criteria on the cross-section of the internal road (if any) adjacent to the land lot according to the approved planning, with the adjustment level difference of no more than 5%.
Regarding water and electricity supply and drainage conditions: Area with stable water and electricity supply or not, the adjustment level difference is no more than 5%; status of flooding when there is heavy rain, the adjustment level difference is no more than 5%.
Regarding the area, size, and shape of the land lot or land area: In case the valued asset is multiple land lots similar in location and shape, the area of the representative land lot shall be taken according to the average area of the land lots which are valued assets, with the adjustment level difference of no more than 10%; frontage and depth of the land lot or land area (average size in case the valued asset is multiple land lots similar in location and shape), the adjustment level difference is no more than 5%.
In case of estimation: Transfer price of apartment; rental price of high-rise apartment; rental price of commercial service floor, office in mixed-use building will conduct a survey, collect and evaluate according to the criteria of apartment area, rental floor area (for valued assets taking the average area), the adjustment level difference is no more than 10%.
Regarding factors related to construction planning: Land use coefficient, construction density, the adjustment level difference is no more than 5%; number of floors and basements of the work, the adjustment level difference is no more than 5%.
For hotel business types: The organization determining the land price shall conduct a survey, collect and evaluate additional criteria on the number of rooms and service standards of the hotel (classified by number of stars), with the adjustment level difference of no more than 5%.
Regarding the current environment and security: Dust, noise, air and water pollution; near cemeteries, waste treatment areas, the adjustment level difference is no more than 5%; population density and security situation in the area, the adjustment level difference is no more than 5%.
Regarding the term of land use: The remaining land use term to implement the project, the adjustment level difference is no more than 5%; for residential land, sold apartments (long-term land use), no adjustment.
Regarding other factors affecting land prices that are suitable to the actual conditions, cultural traditions, and customs of the locality, including: Scenic spots; temples, pagodas, shrines; traditional craft villages, the adjustment level difference is no more than 5%.
Factors affecting land prices for agricultural land include: Crop and livestock productivity, with an adjustment level difference of no more than 20%; location and characteristics of the land lot or land area, the shortest distance to the place of production and consumption of products, with an adjustment level difference of no more than 20%; traffic conditions serving production and consumption of products, road width, road grade, road surface structure, and terrain conditions, with an adjustment level difference of no more than 20%; land use term, except for agricultural land allocated by the State to households and individuals according to the land allocation limit, agricultural land within the land allocation limit when transferring the right to use land, no reference to the land use term, with an adjustment level difference of no more than 20%.
In addition, other factors affecting land prices that are suitable to the reality, cultural traditions, and customs of the locality: Based on the actual situation, the consulting organization for land price determination proposes specific suggestions in the explanatory report on building land price schemes, with an adjustment level difference of no more than 20%.
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