The Khang My Loc Urban Area project has been approved with a land use fee of over 7.6 million VND/m2 for the first phase of allocated residential land, totaling over 4.4 hectares (the project's residential land area is over 4.59 hectares).
The Khang My Loc Urban Area project has been approved with a land use fee of over 7.6 million VND/m2 for the first phase of allocated residential land, totaling over 4.4 hectares (the project's residential land area is over 4.59 hectares).
The People's Committee of Binh Dinh province has just approved specific land prices for calculating land use fees for the Khang My Loc Urban Area Project (Phase 1).
Accordingly, for the allocated land area of 127,392.76 m2, the residential land area of the project is 44,361.62 m2 (including 35,585.75 m2 of terraced houses, 3,425.13 m2 of villas, and 7,350.74 m2 of mixed-use residential and commercial land), with an approved land price of 7,681,000 VND/m2. The remaining land area, including over 8.8 hectares of land for public works, transportation, etc., and 0.21 hectares of railway corridor land, is exempt from land use fees.
This is the land area allocated by the People's Committee of Binh Dinh province in the first phase on May 23, 2024, but the land price has not yet been determined.
According to the decision, the total land use fee that the enterprise must pay for the residential land area within the first phase of land allocation is over 340.741 billion VND.
Previously, the project also received approval for the calculation of the floor price for payment to the state budget (m3) on December 27, 2022, with a value of over 35.614 billion VND.
Thus far, the two obstacles that caused delays in the project's implementation (failure to complete related financial procedures such as cubic meter value and land use fees) have been resolved.
The Khang My Loc Urban Area project in Tam Quan Bac ward, Hoai Nhon town, was approved by the People's Committee of Binh Dinh province on December 3, 2021. Toan Thinh Construction and Trading Co., Ltd., headquartered at 367 Phan Dinh Phung Street, Chanh Lo ward, Quang Ngai city, Quang Ngai province, is the project investor.
In the investment approval decision (dated July 21, 2021), the project was approved with a total investment of VND 648,979,176,615. Toan Thinh Construction and Trading Co., Ltd. was recognized by the People's Committee of Binh Dinh province as the investor meeting the preliminary requirements for capacity and experience, with a total investment amount rounded to VND 648,979,177,000 on October 27, 2021. It is known that the investor is implementing the project with a capital contribution of VND 162.245 billion, with the remainder being bank loans.
In the total investment, the total project implementation cost, excluding compensation, support, resettlement, land use fees, and land lease fees, is over 554 billion VND; the compensation and land clearance cost is over 94.5 billion VND.
The project covers an area of 15,968 hectares; of which 12.69 hectares are planned for residential areas; 3.05 hectares are for existing residential areas to be renovated and upgraded; and 0.21 hectares are for the railway safety corridor.
The project involves the construction of approximately 442 townhouses, villas, and mixed-use commercial and residential units. Within the 4.59-hectare residential land area, the investor is required to complete the construction of 134 plots of land (1.3 hectares) for commercial purposes; consider transferring land use rights through subdivision and sale of plots to households and individuals for self-construction of houses on 292 plots (over 3 hectares); and allocate 16 plots of land (0.15 hectares) for resettlement.
Before the land price was approved, the People's Committee of Binh Dinh province issued a decision to adjust the investment policy on November 8, 2024. Accordingly, the project's progress was extended from 36 months to 60 months (from December 2021 to November 2024, adjusted to November 2026).
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