The 5th National General Partnership Auction Company, the unit in charge of organizing the auction, has just announced the temporary suspension of the Dan Phuong land auction for 26 land-use rights in the Truong Vo area of Tan Hoi commune.
The reason given was a request from the Dan Phuong District Land Development Center to review the procedures, auction plan, and the new Land Law.
Regarding the continuation of the auction organization, the company stated that it would follow the law and be publicly announced after the decision and proposal of the Dan Phuog District Land Development Center.
According to the plan, Dan Phuong District expected to organize an auction of the land-use rights of the 26 above-mentioned plots in the morning of October 5th at the Hall of the District Culture, Information, and Sports Center.
The area of the auctioned plots ranges from 75 to 102.2 square meters, with a starting price of over 13 million VND per square meter. Participants must deposit an amount ranging from over 196 to 267.9 million VND per plot, depending on the area.
 Many localities in Hanoi have announced the temporary suspension of land auctions. Photo: Hong Khanh |
The auction will be conducted through direct voting in multiple rounds, with a minimum of six mandatory rounds. Notably, the bid increment is quite large at 12 million VND per square meter per round. This format resembles the land auction in Hoai Duc, which lasted for nearly 20 hours, from the morning of August 19 to the early morning of August 20, and took nine rounds (including six mandatory rounds) to conclude.
In late August, the 5th National General Partnership Auction Company also announced the temporary suspension of the auction of land-use rights for 27 plots in Phu Luong, Yen Nghia, and Duong Noi wards of Ha Dong district, Hanoi.
This auction was also expected to be conducted through direct voting in multiple rounds, with a minimum of five to eleven mandatory rounds.
Regarding the land auction situation in Dan Phuong District, the district recently announced the organization of a land auction in the Dong Say – Tram Sau area (phase 2) on September 30.
The plots have an area ranging from 55 to 99 square meters, with a starting price of 14 million VND per square meter. Participants in the auction will have to deposit an amount ranging from 193 to 278 million VND per lot.
The auction will be conducted through direct voting in multiple rounds, with a minimum of five mandatory rounds. The direct voting format will continue until no one participates in the bidding.
Previously, Thanh Oai, Hoai Duc, and Ha Dong districts also announced the temporary suspension of land auctions amid the context of land auctions in Hanoi’s outskirts with abnormally high prices in the past time.
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In late July, Dan Phuong District successfully auctioned 85 plots of land. Including: 2 plots in Dong Say – Tram Sau area (phase 3), 2 plots in Dan Phuong commune, with a starting price of 42 million VND per square meter. 67 plots on N1 road, Ha Mo commune, with a starting price ranging from 40 to 51 million VND per square meter. 16 plots in De Nhi, Phuong Dinh commune (phase 2), with a starting price ranging from 35 to 41 million VND per square meter. With 85 plots of land put up for auction, the total number of participating dossiers exceeded 1,200 sets, equivalent to about 14 interested customers per plot. At the end of the auction, all 85 plots were successfully sold. The highest winning bid reached 99.2 million VND per square meter, double the starting price. These plots are located near the N1 road branch. |
Hong Khanh
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