Land auction in Soc Son district, Hanoi. (Photo: Minh Nghia/ VNA)
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On the morning of November 30, authorities from Soc Son district, Hanoi, reported that on November 29, the Soc Son Land Development Center coordinated with the Thanh Xuan Partnership Auction Company to auction 58 land plots in Dong Lai village, Quang Tien commune.
However, by the end of the auction, only 22 out of the 58 land plots were successfully auctioned, with the lowest winning bid at VND 32.4 million per square meter and the highest at VND 50.4 million per square meter. Notably, 36 plots did not receive any bids in the final sixth round of bidding.
According to Nguyen Xuan Quy, Deputy Director of the Soc Son Land Development Center, the land plots ranged from 90 to 224 square meters, with a starting price of over VND 2.4 million per square meter.
The auction followed a direct bidding process with six mandatory rounds, where bidders offered successively higher prices. The highest bidder in the sixth round was declared the winner. The required deposit ranged from VND 44 million to VND 111 million, equivalent to 20% of the plot’s value at the starting price.
Speaking to reporters, Soc Son district leaders shared that an unusual aspect of this auction was the extremely high bids placed in the fifth round. As a result, the auction organizers announced that they would request the intervention of the police to investigate any potential manipulation of the auction results. This announcement led to a halt in bidding activity in the sixth round.
Specifically, in the fifth round, three land plots (A12, A13, and C6) received bids of over VND 30 billion per square meter. Additionally, 23 land plots (A2 to A10, A15 to A17, B10 to B17, B19, and C7) also witnessed abnormally high bids of VND 98,488,000 and VND 101,488,000 per square meter. Furthermore, six plots were bid at nearly VND 68.5 million per square meter (A1, A11, C9, and D5 to D7). These abnormal bids resulted in 36 out of 58 plots going unsold.
The leaders of Soc Son district affirmed that the process of implementing the project, determining the starting price, and organizing the land-use rights auction for the 58 plots in Dong Lai village, Quang Tien commune, was carried out in strict adherence to legal regulations. They maintained that the auction was conducted with honesty, transparency, fairness, and objectivity.
During this period, on November 28, 2024, the Soc Son People’s Committee successfully auctioned 16 land plots in Xuan Thu commune, with starting prices ranging from VND 3.7 million to VND 5.6 million per square meter and winning bids ranging from VND 35.7 million to VND 71 million per square meter. On November 29, 2024, 41 land plots in Viet Long commune were auctioned, with a starting price of VND 2.8 million per square meter and winning bids ranging from VND 12.8 million to VND 26.8 million per square meter.
Previously, in March 2024, a land auction of 33 plots in Hoai Duc district exhibited similar violations and was subsequently canceled. Specifically, in the first round of bidding, 15 land plots received abnormally high bids of VND 100-180 million per square meter, despite a starting price of only VND 57-62 million per square meter. However, in the second round, the highest bidders from the first round chose not to place bids, intentionally forfeiting their rights and allowing the lower bidders from the first round to win the auction. The auction organizers recognized these violations and sealed all registration documents and bid sheets for further investigation and handling by the competent authorities, in accordance with legal regulations.
Regarding the handling of recent irregularities in suburban land auctions, the Hanoi People’s Committee issued directives to relevant departments and localities in September. Notably, Hanoi requested the city police to employ professional measures to promptly detect any violations related to land auctions and propose solutions to prevent or limit the participation of bidders who offer abnormally high prices and then forfeit their deposits. Additionally, they guided the districts, county towns, and townships on measures to prevent violators of auction regulations from participating in future auctions.
Furthermore, the Hanoi People’s Committee instructed the creation of a list to be publicly displayed on the websites of the districts and the Hanoi Department of Natural Resources and Environment. This list includes individuals who offer prices significantly higher than the market value to win auctions but fail to make the required payments, thereby disrupting the market.
From December 1, 2024, Hanoi revoked Decision No. 19/2019/QD-UBND dated October 15, 2019, and Decision No. 07/2023/QD-UBND dated April 21, 2023, which pertained to the authority to approve starting prices for land auctions in Hanoi.
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