On November 27, the People’s Committee of Bac Giang province issued Decision No. 40/2024/QD-UBND amending and supplementing a number of articles of Decision No. 72/2021/QD-UBND dated December 21, 2021, on the issuance of land price framework for the period of 2022-2024 in the province. The decision takes effect from December 10, 2024, to December 31, 2025.
According to the new land price framework, the group of agricultural land for annual crops will have prices ranging from VND 60,000 to VND 70,000 per square meter, depending on the locality; land for perennial crops ranges from VND 55,000 to VND 65,000 per square meter; land for aquaculture ranges from VND 48,000 to VND 60,000 per square meter, and land for production forests is priced at VND 12,000 to VND 20,000 per square meter.
Compared to the current land price framework, when land is revoked for project implementation, the new framework offers higher total compensation and support for affected households, with an increase of about VND 14-47 million per sao compared to the old price.
The group of non-agricultural land is divided into two types, including the price framework for residential land, commercial service land, and non-agricultural production establishments in urban areas, transport routes; and the price framework for residential land, commercial service land, and non-agricultural production establishments in rural areas.
Specifically, the price of residential land in urban areas and along transport routes ranges from VND 180,000 to VND 120 million per square meter, with an average increase of 1.7 to 3.3 times compared to the price framework for the period of 2022-2024 (depending on the area).
Among them, Hoang Van Thu Street in Bac Giang city (from Nguyen Van Cu to Hoang Van Thai Street) is divided into five sections with different prices. The section from Hung Vuong to Nguyen Thi Minh Khai Street has the highest price of VND 120 million per square meter, while the lowest price is VND 32 million per square meter.
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Area with the highest land price in Bac Giang province according to the new land price framework (Unit: thousand VND/m2)
Source: People’s Committee of Bac Giang province
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In addition, some routes also have high residential land prices, such as Quang Trung Street with VND 95 million per square meter; Nguyen Thi Luu Street with prices ranging from VND 32 million to VND 90 million per square meter; Nguyen Van Cu and Hung Vuong Streets with prices ranging from VND 35 million to VND 100 million per square meter, etc.
The area with the lowest land price is located on the route from Provincial Road 248 to Sa Ly – Phong Van commune, with the lowest residential land price (position 3) of only VND 180,000 per square meter.
Regarding the price of residential land in rural areas, the highest price is VND 14 million per square meter, an increase of nearly 5 times compared to the current price framework, located in Tan My, Tan Tien, Dinh Tri, and Dong Son wards (Bac Giang city); and the lowest price is VND 380,000 per square meter, an increase of 1.1 times, located in Phong Minh, Sa Ly, Kim Son, Son Hai, Ho Dap, Tan Son, Deo Gia, and Cam Son communes in Luc Ngan district.
As for the price of land in industrial parks and clusters, it is VND 2 million per square meter in Bac Giang city and ranges from VND 650,000 to VND 1.5 million per square meter in the districts.
According to specialized agencies, the newly issued land price framework is basically close to the market price. In addition, the new land price framework also stipulates the prices of some other types of land, such as land for mineral activities, which is equal to the price of non-agricultural production land in the same area and position. The price of protective forests and special-use forests is equal to the price of production forests. The price of concentrated livestock farming land is determined based on the price of aquaculture land. The price of other agricultural land is determined based on the price of annual crop land, etc.
The new land price framework also stipulates the application of land prices in cases of merging or splitting administrative boundaries. For districts, towns, communes, wards, and townships that are merged or split in terms of administrative boundaries, the land prices specified in this Decision shall apply. The place name shall be based on the new administrative unit after the merger or split.
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