Developers Must Comply
Task Force 1645, led by Director of the Ho Chi Minh City Department of Agriculture and Environment Nguyen Toan Thang, recently met with property developers to resolve issues hindering the issuance of land-use rights certificates (red books) for homebuyers.
Specifically, the high-rise apartment and commercial service complex at 58B Nguyen Thi Thap, Tan Thuan Ward, developed by Phu Gia An Real Estate Investment JSC, was addressed. The project, comprising 476 apartments and 6 townhouses, was completed in 2018 and has been occupied since.
The 58B Nguyen Thi Thap project has had its obstacles removed.
Regarding financial obligations, Decision 1993 by the Ho Chi Minh City People’s Committee valued the land-use fee for the entire 9,229 sqm plot at over VND 137 billion, with VND 93 billion allocated for the apartment area.
On February 9, 2018, the Department of Natural Resources and Environment issued Certificate CT70475, noting that Phu Gia An had provisionally paid land-use fees for 2,286 sqm and land-use rights for the entire 4,462 sqm residential area.
However, on December 11, 2024, the Department reported to the People’s Committee (Document 13262) that due to a technical error, the land-use fee for the apartment area in Decision 1993 was calculated based on 2,286 sqm instead of the correct 4,573 sqm. The Department proposed adjusting Decision 1993 accordingly.
Representatives from the Land Economy Division clarified that the land-use fee applies to the entire project area. The certificate’s note was a technical error, which has been reported to the People’s Committee.
The developer confirmed that the Nguyen Thi Thap road expansion is complete, and the 2% maintenance fund has been transferred to the management board.
Concluding the meeting, Mr. Thang instructed the Land Economy Division to affirm unchanged financial obligations to the Land Registration Office. The developer must secure environmental permits and connect external infrastructure. The Land Registration Office will then issue certificates to homebuyers.
Additional VND 25 Billion Required
For the Ngoc Dong Duong Apartment project at 119 Binh Long, Binh Tri Dong Ward, developed by Ngoc Dong Duong Housing Investment and Development LLC, the 5,123 sqm site includes 408 apartments.
Ngoc Dong Duong’s developer must pay VND 25 billion to enable certificate issuance for buyers.
On December 30, 2016, the Department of Natural Resources and Environment submitted Proposal 14117 to the Land Price Appraisal Council, valuing the 2,050 sqm construction area at over VND 25 billion as of August 2011, per Decision 4101.
On December 11, 2023, the Department (Document 11625) stated that following adjustments to Decision 4101, it would reassess land values for Ngoc Dong Duong to fulfill financial obligations.
Mr. Thang concluded that the developer must pay VND 25 billion in land-use fees to facilitate certificate issuance for buyers.
The meeting also addressed the high-rise residential and commercial project at 132 Ben Van Don, Khanh Hoi Ward, developed by Phu My Hung Corporation, featuring 653 apartments.
The 132 Ben Van Don project will proceed with certificate issuance.
On July 11, 2023, the Ministry of Public Security’s Investigation Agency (Document 1843) requested suspending land transactions and business registration changes for the 7,327 sqm plot and Phu My Hung Corporation.
On May 13, the Ho Chi Minh City People’s Court (Verdict 233) advised the People’s Committee to lift transaction restrictions on the 132 Ben Van Don plot, previously imposed at the Investigation Agency’s request.
On September 23, the Supreme People’s Court’s Appellate Division summoned Phu My Hung as an interested party in the appeal case against Truong Thanh Phong and others for mismanaging state assets.
Mr. Thang questioned the status of 76 resettlement apartments for former District 4 residents. With the case concluded and civil obligations clarified, certificate issuance for buyers should proceed.
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