Expected land prices in Hanoi are divided into 17 areas.

This regulation is built on the basis of the 2024 Land Law and Decree No. 102/2024/ND-CP dated July 30, 2024 of the Government , to ensure that land management, calculation of land use fees, land rent, compensation and support when the State recovers land are carried out in a unified, public and transparent manner.

Land prices are guaranteed to be consistent with urban development practices.

Accordingly, agricultural land prices include: Rice land, annual and perennial crop land, aquaculture land, production forest land, protective forest land and special-use forest land, determined based on the purpose of use, geographical zoning (plains, midlands, mountains) and are specifically regulated in the attached appendices.

Notably, the price of agricultural land within residential areas is determined to be higher, but not exceeding 50% of the price of agricultural land of the same type in the area.

For residential land, commercial land, service land and non-agricultural production and business land, prices are specified in detail in appendices from No. 01 to No. 17. Prices of other non-agricultural land are determined according to the classification and guidance in Decree No. 102/2024/ND-CP, ensuring compliance with the practical development of urban areas, industrial parks, high-tech parks and resettlement areas.

According to the new proposal, land prices in Hanoi will be divided into 17 areas, instead of according to district boundaries as before. Photo: PV

For unused land, when it is necessary to calculate the price for compensation or handling violations, the price of the adjacent land with the highest price will be used as the basis for determination. In case unused land is allowed to be put into use, the competent authority will apply the price of land of the same type and purpose of use according to regulations.

The regulation also clearly states the responsibility for implementation: Hanoi Department of Agriculture and Environment is the focal agency, presiding over coordination with departments, branches and People's Committees of communes and wards in formulating, submitting and adjusting land price plans.

The Department is responsible for periodically updating land price fluctuations to submit to the City People's Committee to issue a land price list every five years and summarize the annual adjustment situation.

During the implementation process, if any problems arise, the Department of Agriculture and Environment will synthesize and report to the City People's Committee for consideration and decision to adjust and supplement to suit the actual situation.

According to the new proposal, land prices in Hanoi will be divided into 17 areas, instead of according to district boundaries as before.

Area 1, including wards in Ring Road 1 with the highest land prices, includes: Tay Ho, Ngoc Ha, Ba Dinh, Giang Vo, O Cho Dua, Hoan Kiem, Van Mieu - Quoc Tu Giam, Cua Nam, Hai Ba Trung.

The highest residential land price is more than 702 million VND/m², applied to location 1 (street frontage) on streets such as: Ba Trieu (Hang Khay - Tran Hung Dao section), Dinh Tien Hoang, Hai Ba Trung (Le Thanh Tong - Quan Su section), Hang Dao, Hang Khay, Hang Ngang, Le Thai To, Ly Thuong Kiet, Nha Tho, Tran Hung Dao (Tran Thanh Tong - Le Duan section)... this level increases about 2% compared to the current price list.

The lowest price in position 1 in the area was recorded at Dong Co street, more than 82 million VND/m². The average price of residential land in 9 central wards is 255.3 million VND/m², an increase of 2% compared to present.

The 2% increase is applied to other areas including: Area 2 (wards within Ring Road 2); Area 3 (wards from Ring Road 2 to Ring Road 3); Areas 4 and 5 (wards outside Ring Road 3, on the right side of the Red River, except Chuong My, Son Tay, and Tung Thien); Area 6 (wards within the boundary of the Red River - Duong River - Ring Road 3).

The trend of investing in land in suburban areas is increasing again.

The proposed residential land price has increased sharply in suburban communes. Of which, area 9 (including communes: Lien Minh, O Dien, Dan Phuong, Hoai Duc, Duong Hoa, Dong Son, An Khanh) has the highest increase, about 26%. The highest land price in this group is 64.7 million VND/m², applied to location 1 on National Highway 32 (from the border of Xuan Phuong ward to the intersection into Kim Chung - Di Trach urban area).

The average land price in location 1, area 9 is 30.4 million VND/m², up from the current 26.8 million VND/m².

Area 7 (including 9 communes: Tien Thang, Yen Lang, Quang Minh, Me Linh, Phuc Thinh, Thu Lam, Dong Anh, Vinh Thanh, Thien Loc) and area 10 (including 12 communes: Dai Thanh, Thanh Tri, Ngoc Hoi, Nam Phu, Binh Minh, Tam Hung, Thuong Tin, Hong Van, Thanh Oai, Dan Hoa, Thuong Phuc, Chuong Duong) with a proposed increase of 25%.

According to the report of the land price consulting unit, the current trend of investing in land in suburban areas, areas planned to become districts or near the beltway is increasing again, along with planning information and population movement, leading to strong differentiation between areas.

The adjusted land price list will be used as the basis for calculating compensation, determining resettlement land prices, calculating land use tax, personal income tax from land use rights transfer and adjusting related fees and charges.

For the people, if the real estate transaction is lower than the published price list, the management agency can consider the legality of the transaction. Even if it is legal, taxes and fees are still calculated according to the minimum price in the new land price list.

(Article in collaboration with Hanoi Department of Agriculture and Environment)

Source: https://daibieunhandan.vn/du-kien-gia-dat-ha-noi-chia-thanh-17-khu-vuc-10393796.html