Need for transparent legal mechanism for land fund along metro lines in Ho Chi Minh City

It is necessary to think about spatial development and a transparent legal mechanism for land funds on both sides of metro lines in Ho Chi Minh City. This is the opinion of experts as a basis for compensation, site clearance and urban redevelopment.

Accordingly, the public transport-oriented urban development model, also known as the TOD model, will be the "backbone" in Vietnam's new urban development strategy, aiming to solve the problem of traffic congestion and improve the quality of life in the long term.

According to experts, Ho Chi Minh City is entering the stage of forming a super city with regional infrastructure - including Ring Road 3, Ring Road 4, highways and metro, bringing potential for growth in housing, trade and logistics.

The city aims to mobilize about 7.8 billion USD from TOD land fund by 2035 to reinvest in public transport infrastructure, facilitate travel, reduce congestion and promote sustainable urban development.

Doctor of Science , Architect Ngo Viet Nam Son emphasized: "The TOD urban model can only be effective when implemented on a clear legal foundation and integrated planning from the beginning. According to him, the land fund on both sides of the metro lines needs to have a transparent legal mechanism, as a basis for compensation, site clearance and urban redevelopment."

Mr. Son commented that up to now, there has not been a real TOD urban area. Metro line No. 1 is only 1/3 of the TOD model. According to the plan, Ho Chi Minh City will pilot TOD development in 11 locations, with a scale of about 1,700 - 1,800 hectares, along metro lines No. 1, 2 and beltway 3.

Urban development according to the TOD model is not only a world trend, but is becoming an inevitable requirement for Vietnam in the new period. To realize this model, it is necessary to have a synchronous planning mindset, a transparent and feasible mechanism, and close coordination between management agencies - businesses - experts, and especially policies to encourage housing development associated with the real needs of the people.

Dr. Nguyen Van Dinh believes that real estate can only truly develop sustainably when it goes hand in hand with planning, and urban areas are organized according to a modern, smart model, with public transport as the main axis.

Source: https://vtv.vn/can-co-che-phap-ly-minh-bach-cho-quy-dat-doc-cac-tuyen-metro-tai-tp-ho-chi-minh-100251120151944021.htm