The Ho Chi Minh City Department of Natural Resources and Environment has provided an update on the progress of drafting the decision to adjust the 2020 land price table (referred to as the adjusted land price table) and the expected timeline for completing the supplementary report.
Regarding the procedure for adjusting land prices, the Department of Natural Resources and Environment is following the 6-step process outlined in Decree 71/2024. So far, the department has completed steps such as selecting a consulting unit, organizing land price appraisal, drafting the document, and seeking feedback from relevant agencies and organizations. The draft has now been submitted to the Ho Chi Minh City Land Price Appraisal Council for review.
 The Department of Natural Resources and Environment expects to finalize the supplementary report within this month. Photo: Anh Phuong |
As per the established procedure, after the appraisal process is completed, the Ho Chi Minh City Land Price Appraisal Council will send a document to the Department of Natural Resources and Environment. The department will then incorporate the feedback, make necessary adjustments, and finalize the draft before submitting it to the Ho Chi Minh City People’s Committee for the issuance of a decision.
The adjusted land price table was initially expected to be issued before September 15. However, due to the importance and significant impact of the adjusted land prices, the Ho Chi Minh City People’s Committee has decided to hold additional conferences to gather feedback.
As a result of the need to consolidate, consider, and provide responses to the feedback received, as well as supplement the appraisal dossier, the city has not been able to issue the adjusted land price table as planned.
According to the Department of Natural Resources and Environment, they will finalize the supplementary content and submit it to the Ho Chi Minh City Land Price Appraisal Council for appraisal within this month.
Regarding the challenges in determining the financial obligations of thousands of land-related dossiers received since August 1, the Department of Natural Resources and Environment stated that the Ho Chi Minh City People’s Committee has submitted a document to the Prime Minister and relevant ministries and sectors for guidance on this matter.
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The adjusted land price table, which is being developed by the Ho Chi Minh City Department of Natural Resources and Environment, is expected to be applied from August 1, 2024, until the end of the year. This will be in effect before the implementation of the land price table for the first time, as stipulated by the 2024 Land Law. The adjusted land price table is designed to increase land prices and gradually align them with market transaction prices. Compared to the 2020 land price table, the adjusted version includes updates on up to 4,565 roads, an increase of 557 roads. For residential land, the adjusted prices are expected to be significantly higher than the 2020 land price table. The average increase ranges from 5 to 10 times the previous prices in districts 1, 3, 5, 6, 8, 10, 11, Phu Nhuan, Tan Binh, Go Vap, and Binh Thanh. In districts 4, 7, 12, Tan Phu, Binh Tan, and the districts of Nha Be, Can Gio, Binh Chanh, Cu Chi, and Thu Duc City, the land prices are projected to increase by an average of 10 to 20 times compared to the previous prices. Notably, the land prices in Hoc Mon district are expected to increase by an average of 22 times the previous prices. |
Anh Phuong
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