54 agricultural lands are piloted for commercial housing

VTV.vn - The People's Committee of Ho Chi Minh City has approved a pilot project to build commercial housing on 54 agricultural plots, with the hope of creating additional supply at suitable prices.

Ho Chi Minh City pilots construction of commercial housing on agricultural land

Accordingly, 54 approved land plots include 48 plots in the old Ba Ria - Vung Tau area and 6 plots in the old Ho Chi Minh City. Of this total area, about 212,800 m² of rice-growing land is expected to be converted to commercial housing development.

According to the pilot mechanism stipulated in Resolution 171, enterprises are allowed to negotiate to receive the right to use agricultural land, commercial service land or non-agricultural land that is not residential land to implement commercial housing projects, as long as the land is consistent with the local housing development plan and planning.

Different from the previous regulation that required investors to own or receive the transfer of 100% of residential land area, the new mechanism allows enterprises to transfer and change the purpose of using many different types of land, including agricultural land, non-agricultural land that is not residential land and residential land, if ensuring compliance with planning orientation.

The Provincial People's Committee will have the authority to grant licenses to enterprises to transfer rights and change land use purposes for each specific project.

Ho Chi Minh City People's Committee said that this announcement is an important legal basis for businesses and authorities to carry out the next steps, including land acquisition agreements, legal documents, detailed planning and completion of construction investment procedures.

The pilot projects must fully comply with regulations on land, investment, construction, housing and environment, and aim to increase the supply of commercial housing, especially in the mid-range and affordable segments, to stabilize the real estate market in the 2025-2030 period.

Source: https://vtv.vn/54-khu-dat-nong-nghiep-duoc-thi-diem-lam-nha-o-thuong-mai-1002511100950146.htm