On the afternoon of January 18, the National Assembly voted to pass the Land Law 1, which is considered an important law, especially the biggest bottleneck in the real estate market.
Commenting on this issue, Mr. Le Hoang Chau, Chairman of Ho Chi Minh City Real Estate Association (HoREA) said that the Land Law 2024 has been adjusted and revised synchronously and in accordance with the institutional development of the economy. socialist-oriented market economy.
"The Land Law 2024 has built the real estate market, including the land use rights market, into a reasonable, fair and effective land allocation channel," Mr. Chau said.
The Land Law 2024 has many new points. (Photo: PO)
According to Mr. Chau, the Land Law 2024 has 8 new articles that will remove bottlenecks for the real estate market.
First, the Land Law allows the limit to receive transfer of agricultural land use rights from individuals to no more than 15 times the individual's agricultural land allocation limit for each type of land.
“The Land Law 2024 will create conditions for more effective use of agricultural land so that the agricultural sector will increasingly develop, farmers will become increasingly rich and the face of rural areas will become increasingly innovative, which will have a positive impact on the whole country. economy and real estate market in the process of urbanization and development of rural residential areas, increasing the need for housing creation of rural people, especially billionaire farmers", Mr. Chau speak.
Second, the Land Law 2024 specifically stipulates 31 cases in which the State recovers land for socio-economic development for national and public benefits, this ensures openness, transparency, and ease of supervision. Monitor and overcome the situation where there are some local cases of widespread land acquisition as happened before.
Third, the Land Law 2024 has removed the land price framework and regulated the land price list. Accordingly, the land price list is developed annually and the land price list is first announced and applied from January 1, 1 and adjusted from January 2026 of the following year, which will help keep the land price list smoother. close to market land prices, but this regulation will also increase work pressure for localities.
Fourth, the Land Law 2024 has added Chapter VIII on “development, management and exploitation of land funds”, which stipulates principles for the development, management and exploitation of land funds and requires the development, management and exploitation of land funds. Land fund exploitation must follow land use planning, land use plans, use land for the right purpose, publicly, transparently, reasonably, effectively and according to the provisions of law.
Fifth, the Land Law specifically regulates the allocation and lease of land through auctions of land use rights, for clean land created by the State, or allocation and lease of land through selection bidding. Investors carry out investment projects using land.
The Land Law also stipulates that for uncleared land, the winning investor is responsible for advancing capital to carry out compensation, support, and resettlement at the request of competent state agencies. permission.
Within 36 months from the date of issuance of the decision to recognize successful bidding results or another period according to the contract signed with a competent state agency, the competent People's Committee must complete the implementation. compensation, support, and resettlement for land allocation and land lease to investors who win the bidding.
Sixth, the Land Law 2024 very liberally regulates the use of land to implement socio-economic development projects through agreements on receiving land use rights or having land use rights" for most people. socio-economic development projects including social housing projects.
“The Land Law 2024 will create very favorable land use conditions to promote production and business development such as developing industrial park projects, economic zones, high-tech zones, high-tech agricultural zones, Industrial clusters, production and business establishments, trade, services, tourism, healthcare, education, scientific research, parks, entertainment areas, etc., Mr. Chau commented.
Seventh, the Land Law stipulates that land users have the right to choose the form of land rent payment, annual land rent payment or one-time land rent payment for the entire lease period.
In particular, point 8, the National Assembly allows the immediate application of a number of regulations of the Land Law 2024 such as regulations on land valuation or regulations on land use to implement sea reclamation projects and remove land violations. Practical problems, especially allowing the immediate application of regulations on land valuation, will create conditions for the Government to develop and promulgate a "Decree on land price regulations" to implement the Land Law 2024, replacing because of promulgating the Decree amending and supplementing a number of articles of Decree No. 44/2014/ND-CP regulating land prices.
