Draft land price list in Ho Chi Minh City increases from 5-51 times: Will report to the Prime Minister

According to a report by the Ho Chi Minh City People's Committee, Clause 1, Article 257 of the 2024 Land Law stipulates that land price tables issued by provincial People's Committees in accordance with the 2013 Land Law will continue to be applied until December 31, 2025. If necessary, provincial People's Committees may decide to adjust land price tables in accordance with this law to reflect the actual land prices in their localities.

Prior to August 1st, land prices in Ho Chi Minh City were based on Decision No. 02/2020 of the Ho Chi Minh City People's Committee. The development of this price list was limited by the regulations on land price frameworks in Decree 96/2019, and as a result, it has become outdated and does not accurately reflect the actual situation over the years.

Vice Chairman of Ho Chi Minh City People's Committee Duong Ngoc Hai provided information at a meeting held on September 10th at the headquarters of the Ministry of Natural Resources and Environment (Photo: Thuy Nhi).

Every year, the Ho Chi Minh City People's Committee submits to the City People's Council for approval the land price adjustment coefficient (K) to be applied to each group of subjects, each area, and each land use purpose, thus contributing to the appropriate resolution of land-related financial obligations in the city.

From August 1st, the 2024 Land Law, which comes into effect, no longer stipulates that the Ho Chi Minh City People's Committee must annually submit the adjustment coefficient to the City Council for approval. Therefore, land price tables after August 1st will not apply the adjustment coefficient.

Therefore, adjusting the land price list in Ho Chi Minh City is necessary to align with the actual situation and gradually approach market prices. This adjustment will be issued from June 1, 2026, as stipulated in the 2024 Land Law.

Currently, the draft adjustment of land price tables in Ho Chi Minh City is being implemented by the Ho Chi Minh City People's Committee in coordination with the City People's Council. This includes directly soliciting opinions from People's Council representatives, holding dialogues, and gathering feedback from agencies, organizations, and land users.

The draft of the new land price list in Ho Chi Minh City, which is expected to increase prices by 5-51 times compared to the old list, has caused a stir in public opinion recently (Photo: Trinh Nguyen).

However, representatives from the Ho Chi Minh City People's Committee stated that they are facing difficulties and obstacles in resolving administrative procedures regarding financial obligations during the transitional period from August 1st until the official issuance of the adjusted land price list.

Deputy Minister Le Minh Ngan informed that Deputy Prime Minister Tran Hong Ha has assigned the Ministry of Natural Resources and Environment to take the lead and coordinate with the Ministry of Finance and other relevant ministries and agencies to study the difficulties faced by the Ho Chi Minh City People's Committee regarding the adjustment of land price tables.

At the meeting, the delegates generally agreed on the adjustment of Ho Chi Minh City's land price list. Clause 1, Article 257 of the 2024 Land Law clearly stipulates that the authority to make adjustments rests with the People's Committee of Ho Chi Minh City.

Mr. Duong Ngoc Hai, Vice Chairman of the Ho Chi Minh City People's Committee, explained that adjusting the land price list is a major and important issue because it affects a large number of people and impacts the socio -economic development of the city.

Ho Chi Minh City has determined that it must adjust the land price list to reflect the actual land price situation. The locality is being very cautious, carefully assessing the impact, and fully implementing regulations. Therefore, Ho Chi Minh City urgently needs feedback from ministries, agencies, and experts to ensure that the adjustment does not significantly impact citizens and businesses. This will help Ho Chi Minh City develop stably.

Concluding the meeting, Deputy Minister Le Minh Ngan directed the Department of Land Planning and Development (Ministry of Natural Resources and Environment) to synthesize, incorporate, and finalize the report for submission to the Prime Minister.

Deputy Minister of Natural Resources and Environment Le Minh Ngan (Photo: Thuy Nhi).

Mr. Ngan agreed with the necessity of adjusting land price tables in Ho Chi Minh City, and suggested that the city should adhere closely to the conclusions of the Standing Committee of the City Party Committee on this matter; the procedures should comply with Government Decree 71/2024 on land prices.

During the implementation process, Mr. Ngan noted that Ho Chi Minh City needs to assess land prices in the land price list in comparison with the local land price level; and evaluate the impact of the draft land price list on affected parties. Furthermore, it is necessary to fully incorporate and address the opinions of affected parties, ensuring a balance of interests and avoiding negative impacts on citizens and the business community.

As reported by Dan Tri newspaper, the draft of the new land price list in Ho Chi Minh City, which is expected to increase prices by 5-51 times compared to the old land price list, has caused a stir in public opinion recently.

Source: https://dantri.com.vn/xa-hoi/du-thao-bang-gia-dat-tphcm-tang-tu-5-51-lan-se-bao-cao-thu-tuong-20240910175727883.htm