Hanoi tightens land auctions

(Dan Tri) - The Hanoi People's Committee requested departments, branches and localities to seriously implement measures to improve the efficiency of land use rights auctions.

The Hanoi People's Committee has just issued Official Dispatch No. 4085 requesting departments, branches and localities to seriously implement measures to improve the efficiency of land use rights auctions.

According to the directive, localities need to carefully evaluate the effectiveness of land allocation and land lease through auctions. In particular, units should avoid organizing auctions in areas with low starting prices, which are not enough to cover the costs of site clearance and infrastructure investment. Such land can be converted to serve resettlement or build public works, contributing to supporting socio -economic development projects in the area.

The City People's Committee requested units to comply with legal regulations, and at the same time review and rectify auction work according to previous directives of the Government and the City. Districts, towns and cities are assigned to proactively propose specific solutions, ensuring that the auction process is organized closely, openly, transparently and brings high economic efficiency.

Land auction in Hoai Duc district held last August (Photo: Duong Tam).

The Standing Committees of District Party Committees, District Party Committees, and City Party Committees are also assigned to closely coordinate with state agencies to implement measures to stabilize the real estate market and avoid complicated problems. The Department of Natural Resources and Environment is assigned to monitor, urge, and summarize the implementation results, and report to the City People's Committee in February 2025.

Previously, on November 29, Soc Son district (Hanoi) organized an auction of 58 land lots in Dong Lai village, Quang Tien commune. The auction caused a stir in public opinion when 3 land lots were bid up to over 30 billion VND/m2.

According to the report of the Soc Son District Land Fund Development Center, in the 5th round, some land plots were offered unusually high prices by customers, including customer Pham Ngoc Tuan who offered 30 billion VND/m2 for 3 plots of land. In addition, customer Ngo Van Duong offered 101.4 million VND/m2 for 13 plots of land.

Customers Nguyen The Quan and Nguyen The Trung paid 98.4 million VND/m2 for 10 plots of land. In addition, 2 customers Nguyen Thi Quynh Lien and Nguyen Duc Thanh paid 50.4 million VND/m2, 59.4 million VND/m2, 62.4 million VND/m2, 68.4 million VND/m2 for 10 plots of land.

However, in the 6th round (the final round), customers did not continue to bid for 36 plots of land.

At the end of the auction, only 22/58 plots of land were successfully auctioned with the lowest winning price of 32.4 million VND/m2; the highest price of 50.4 million VND/m2. 36 plots of land were not auctioned because all customers did not bid in round 6 (the final round).

On December 3, the Hanoi City Police Department of Investigation urgently arrested and temporarily detained 5 subjects for investigation related to the case of paying 30 billion VND/m2 in a land auction in Soc Son district.

The detained subjects include Pham Ngoc Tuan, Ngo Van Duong, Nguyen Duc Thanh, Nguyen The Trung, and Nguyen The Quan. According to Hanoi City Police, the five subjects mentioned above are being investigated for violating regulations on property auction activities.

On November 30, Thanh Oai district (Hanoi) organized an auction of 22 plots of land in Do Dong commune. The plots of land put up for auction have an area of 85-135m2. The starting price of these plots is from 5.3 million VND/m2, equivalent to a deposit of 90.89-143.84 million VND/plot.

Speaking to Dan Tri reporter, Mr. Nguyen Trong Khien - Vice Chairman of Thanh Oai District People's Committee - said that in the 8th round, the highest price was about 70 million VND/m2, but because customers all gave up, the auctioned land lots were all unsuccessful.

"Most of the people participating in multiple rounds of auctions are from real estate offices. After only a few auctions are held, these people will get to know each other and connect with each other. This failed auction will affect the district's budget revenue," Mr. Khien added.

Source: https://dantri.com.vn/bat-dong-san/ha-noi-siet-chat-dau-gia-dat-20241208094317555.htm