32 plots of land were successfully auctioned by Me Linh District in the afternoon of September 18. This was the 6th auction held in Bach Da Village, Kim Hoa Commune, with lot sizes ranging from 73.5 to 187.5 square meters. The reserve prices ranged from VND 21.7 to 32.8 million per square meter. The minimum deposit for a plot was over VND 405 million, while the highest was over VND 1.2 billion.
The winning bids ranged from VND 33.3 to 48.9 million per square meter, not significantly higher than the reserve prices, with the highest being only twice the starting price.
The plot with the highest winning bid of VND 48.9 million per square meter has an area of 124 square meters and is located on a corner lot, thus having a total value of over VND 6 billion. The deposit for this plot was over VND 640 million.
A land auction in the outskirts of Hanoi
Notably, immediately after the land auction concluded, several winning bids were advertised for resale at a premium on social media platforms and in the auction area. The plot with the highest total value of over VND 8.7 billion was offered for resale with a premium of VND 300 million (totaling VND 9 billion).
According to the representative of the Me Linh District Land Development Center, the total revenue generated from this auction for the district budget was nearly VND 140 billion, a difference of VND 54 billion compared to the reserve prices. The land-use right auctions in the district aim to efficiently utilize the planned land funds, increase budget revenues for the district, and create capital sources for local infrastructure development.
Previously, in June 2024, Me Linh District successfully auctioned 51 plots of land in Lien Mac Commune. The plot sizes ranged from 95 to 263.2 square meters, with reserve prices of approximately VND 18.4 to 20.6 million per square meter. The highest winning bid was VND 38.8 million per square meter.
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