Proposal to amend regulations on land valuation methods

On the afternoon of June 14, a representative of the Ministry of Natural Resources and Environment said that Decree No. 44/2014/ND-CP dated May 15, 2014 of the Government (Decree 44) regulating land prices stated 5 methods of land valuation: direct comparison, deduction, collection, surplus, land price adjustment coefficient and conditions for applying these 5 methods.

Ministry of Natural Resources and Environment proposes to amend and supplement regulations on land valuation

At the same time, Circular No. 36/2014/TT-BTNMT dated April 30, 2014 of the Ministry of Natural Resources and Environment (Circular 36) provides detailed regulations on land valuation methods, procedures for developing land price lists, specific land valuation and land price consultancy. These are the legal bases for land valuation at the local level since their promulgation.

However, up to now, in the context of strong economic growth, attracting many investment and development projects, land valuation in some places is not timely, there is no mechanism and resources to fully collect data and information on land prices popular in the market, ensuring that valuation is consistent with market prices.

The application of land valuation methods in some localities has revealed limitations that need to be resolved. Therefore, it is time to amend and supplement a number of articles of Circular 36 to promptly remove difficulties and obstacles in the process of implementing land valuation.

The Ministry of Natural Resources and Environment has drafted a circular to replace Circular 36, which amends and replaces a number of articles. Specifically, Article 3 will provide specific regulations on the source of land price information collection for comparable land plots for auctioned land prices, land prices recorded on land use rights transfer contracts and market land prices based on land data.

In addition, remove the regulations on successful transactions in the market and information collection through direct interviews; specify the scope of information collection in case the valuation area cannot collect sufficient information. The provincial People's Committee, based on the actual situation in the locality, shall specify the table of adjustment rates for the different factors of the land plots compared to the land plot to be valued.

The Ministry of Natural Resources and Environment also proposed to amend and supplement Article 5 of Circular 36 in the direction of: specifying the time to calculate the average annual income of the land plot to be valued for agricultural and non-agricultural land; specifying the case where the information to determine the average annual income of the land plot to be valued does not fully reflect the income for each year, does not accurately reflect the actual income from land use for agricultural and non-agricultural land...

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