The Ho Chi Minh City People’s Committee has recently reported to the municipal People’s Council on the work of amending and supplementing Decision No. 02/2020, dated January 6, 2020, regarding land price tables in Ho Chi Minh City.
Ho Chi Minh City will issue a new land price table before October 15th. Photo: HT
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The old land price table is no longer suitable
According to the Ho Chi Minh City People’s Committee, a review of the 2024 Land Law and the actual situation of land prices in the city revealed three issues with the land price table as per Decision 02/2020.
Firstly, there is an issue with the land price framework and the outdated land prices in the table issued under Decision 02/2020.
The People’s Committee of Ho Chi Minh City analyzed that the 2013 Land Law stipulates that the land price table is constructed periodically every five years and publicly announced on the first day of the first year of the period. Based on the principles and methods of land pricing, and the land price framework, adjustments are made when the government adjusts the framework or when there is a fluctuation of 20% or more in the common land price in the market compared to the maximum or minimum price in the framework.
The land price table, as per the 2013 Land Law, in Ho Chi Minh City, was issued under Decision 02/2020, constrained by the land price framework set by the government in Decree No. 96/2019, with a maximum price of only VND 162 million/m2.
As a result, the price table under Decision 02/2020 had to inherit the 2014 land prices issued under Decision 51/2014. Thus, the city’s land price table has remained unchanged for ten years, not reflecting the actual situation.
Secondly, there is a lack of approved resettlement land prices. Specifically, the People’s Committee believes that the city is one of the localities with the most investment projects using state capital in the country, significantly contributing to the country’s economic development through public investment.
Especially in the first nine months of 2024, the city’s GRDP increased by 6.46% over the same period, the highest since 2020, contributing 19.64% to the country’s overall growth rate.
Additionally, there are many public investment projects in the city that involve compensation, support, and resettlement components. Accordingly, in the last five years, the People’s Committees at all levels have approved numerous land price schemes to calculate compensation for land revocation by the State. As well as calculating land use fees at the resettlement areas for those who have been compensated for residential land and those who have been allocated residential land in cases where they do not meet the conditions for compensation.
However, the land price table issued under Decision 02/2020 has not yet updated and supplemented the approved resettlement land prices and specific land prices.
Therefore, if the current land price table is continued until December 31, 2025, there will be a lack of land prices in the table to calculate land use fees for those allocated resettlement in the city.
The third issue relates to the land price adjustment coefficient. Accordingly, the People’s Committee of Ho Chi Minh City stated that the 2024 Land Law does not prescribe the method of applying the land price adjustment coefficient to determine the specific land price for land plots with a value of less than VND 30 billion as per the 2013 Land Law and Article 18 of Decree No. 44/2014 of the Government.
According to point d, Clause 6, Article 158 of the 2024 Land Law, the method of the land price adjustment coefficient is only “applied to determine the specific price to calculate compensation when the State revokes land in cases where multiple adjacent land plots with the same land use purpose are revoked, and the land price is specified in the land price table but does not meet the conditions for applying the comparison method.”
Due to these three issues, the People’s Committee believes that adjusting the land price table in Ho Chi Minh City is necessary.
Implementing a streamlined procedure to issue a new land price table
According to the Ho Chi Minh City People’s Committee, to ensure the timely issuance of the new land price table, based on the recommendations of the Department of Natural Resources and Environment and the opinion of the Department of Justice, the People’s Committee has agreed to amend and supplement Decision No. 02/2020 following a streamlined procedure as per Notice No. 702/TB-VP.
The following steps are expected to be taken to issue the new land price table in the coming time:
On September 30, the Department of Natural Resources and Environment will complete the Report for resubmission to the Land Price Appraisal Council of the city.
Before October 10, the Land Price Appraisal Council of Ho Chi Minh City will organize an appraisal meeting.
Subsequently, the People’s Committee of Ho Chi Minh City will issue a decision to amend and supplement Decision No. 02/2020 before October 15.
NGUYEN CHAU
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