The Magic City Unveils its First-Ever Land Price Index

On August 26, Vice Chairman of the Ho Chi Minh City People's Committee, Bui Minh Thanh, signed a document conveying the directive of the Chairman of the Municipal People's Committee regarding the proposal to establish land price tables for the first time in Ho Chi Minh City.

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The Chairman of the Ho Chi Minh City People’s Committee assigns the Department of Finance to take the lead, in collaboration with the Department of Agriculture and Environment, to advise and propose the formulation of state budget estimates for the work of constructing, adjusting, amending, and supplementing land price tables and specific land price determination in the city. Accordingly, the land price table will be constructed based on inheriting the approved quota of the three areas and applying them to each area.

The Chairman of the Ho Chi Minh City People’s Committee assigns the Department of Finance to coordinate with the Department of Justice and units to research the proposals of the Department of Agriculture and the Environment related to the selection of organizations to determine land prices in the form of shortened direct appointment bidding; report, advise, and propose to the People’s Committee of Ho Chi Minh City before September 5th.

The Department of Agriculture and Environment is assigned to update the contents of the decrees and circulars guiding the implementation of the Land Law to coordinate with the Department of Justice to report and advise the People’s Committee of Ho Chi Minh City on the procedure for issuing legal documents on the project to build the city’s first land price table.

The Chairman of 168 wards, communes, and special districts of Ho Chi Minh City, assigned by the Chairman of the Ho Chi Minh City People’s Committee, prepares a database of land prices, completed transactions of all routes and road sections according to location and area, and boundary points to coordinate with the Department of Agriculture and the Environment. At the same time, organize the implementation of land price determination, review and balance the land price database, and send it to the Department of Agriculture and the Environment to implement the construction of the land price table to ensure the progress.

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