Strictly control and limit the situation of projects receiving deposits but not implementing them.

Continuing the 6th Session, this morning, October 31, the National Assembly discussed in the hall a number of contents with different opinions of the draft Law on Real Estate Business (amended). Vice Chairman of the National Assembly Nguyen Duc Hai chaired the meeting.

Participating in the meeting, delegate Tran Hong Nguyen - National Assembly Delegation of Binh Thuan province expressed his agreement with the Report on receiving, explaining and revising the draft Law of the National Assembly Standing Committee; at the same time, highly appreciated the serious preparation and close coordination of the agency in charge of reviewing, the agency in charge of drafting, and relevant agencies. Therefore, the delegate expressed his agreement with the content of the draft Law.

311020230953-z4834048915064_756a70ec889007960eb677140821063e.jpeg — Delegate Tran Hong Nguyen - National Assembly Delegation of Binh Thuan province participated in giving comments this morning, October 31.

Commenting on the deposit in the housing business and future construction projects, delegate Tran Hong Nguyen expressed his agreement with option one and the arguments presented in the acceptance and explanation report. Accordingly, this option is less risky for customers, who are the weaker party in real estate transactions because the deposit is only made when the real estate is qualified for business and the two parties have officially signed the contract, limiting the occurrence of disputes.

Delegate Tran Hong Nguyen observed that the time to collect the deposit right from the time the project has a basic design appraised by a state agency and the investor has one of the documents on land use rights as shown in option two will lead to a very long time from receiving the deposit to actually implementing the project, causing more risks for customers. Meanwhile, the real estate market has recently had many complicated developments, there is still a situation where investors of real estate projects take advantage of the form of deposits and capital contribution contracts to arbitrarily mobilize capital, causing insecurity and disorder. In reality, many projects have not been implemented after receiving deposits for 5 years, even 10 years. Therefore, the delegate said that there should be regulations to control more strictly to limit this situation from happening...

Commenting on payment in the sale and lease-purchase of future housing and construction projects, expressing agreement with option two, delegate Tran Hong Nguyen said that although the advantage of option one is to ensure the stability of current policies, this regulation has not yet overcome the reality of the past, in many cases, after purchasing a house, customers do not intend to transfer the property and only use it for living, so they do not need to receive the certificate immediately.

On the other hand, although the investor has fulfilled its commitment and the competent state agencies have issued the certificate, it may delay the completion of the 5% obligation for a long time, greatly affecting the capital of the enterprise and the investor. At the same time, the regulation as option two will ensure synchronization and consistency with the regulations on the time of establishing ownership rights in this draft Law with the draft Law on Housing (amended) as well as the regulations on the completion of financial obligations according to the provisions of the Law on Land (amended).

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