Recently, the People’s Committee of Phuoc Vinh Tay Commune, Tay Ninh Province, held a meeting to gather feedback on adjusting land valuation for plots adjacent to roads within the clearance area of the Phuoc Vinh Tay New Urban Area project. These plots, though currently not classified as adjacent, are being reassessed to ensure accurate compensation.
This initiative follows directives from the Provincial People’s Committee to review, update, and supplement road networks in the project’s compensation plan, ensuring compliance with regulations and alignment with current land use.
The Phuoc Vinh Tay New Urban Area project spans approximately 1,089.6 hectares, affecting 6,131 households and individuals. To date, 3,181 cases have been cleared, covering 569.4 hectares, with total compensation exceeding VND 6,865 billion. Including public land and cases where compensation has been accepted, the cleared area reaches over 784 hectares, or about 72% of the total project area. The developer is currently progressing with infrastructure construction as planned.
During the compensation process, several cases have requested adjustments to valuations for plots adjacent to roads, reflecting their actual proximity.
The Phuoc Vinh Tay New Urban Area project is jointly developed by Vinhomes Joint Stock Company and Vietnam Investment Group (VIG), with a total investment of over VND 80,000 billion. Construction began on August 19th.
Covering over 1,089 hectares in Phuoc Vinh Tay Commune, the project includes 7,050 terraced houses, nearly 8,200 villas, 13,440 social housing units, and 2,370 low-rise resettlement houses.
Designed as an eco-friendly, smart, and sustainable urban area, the project is scheduled for completion and operation by the end of 2030.
Approved by the Prime Minister on November 15, 2023, the project received investor approval from the former Long An Provincial People’s Committee in July 2024 for the Vinhomes – VIG consortium. This marks Vingroup’s third project in Tay Ninh.
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