Early application of 2 laws into practice
According to the leader of the provincial Department of Construction, on August 1, 2024, the Housing Law, the Real Estate Business Law 2023 and the detailed Decrees will officially take effect, resolving the difficulties and inadequacies in the housing sector and the real estate market in the province in the past time, especially the investment procedures for housing projects.
At the training conference on the Housing Law and the Real Estate Business Law 2023 held in the province recently, Standing Vice Chairman of the Provincial People's Committee Phan Van Dang said that recently, the housing and real estate market in the province has been attracting many large investors to implement housing development projects, urban areas, and real estate investment and construction projects. In addition, the Provincial People's Committee has approved the Housing Development Program of Binh Thuan province for the period 2021 - 2030, the housing development plan for the period 2021 - 2030 and is directing the Department of Construction to develop a housing development plan for the period 2026 - 2030. These are important documents creating a legal corridor for the real estate market in the province to develop stably and healthily in the coming time. However, the management of housing and the real estate market in the past time has encountered many difficulties and complications. To meet the current development speed of the province, it is necessary to immediately apply new legal regulations on housing and real estate business.
Currently, the province has 3 social housing projects that are eligible for sale, lease, and hire-purchase. In addition, the province also has 3 commercial housing projects that are eligible for sale of future housing and 8 projects that are eligible for transferring land to people to build their own houses. In addition, the Provincial People's Committee is reviewing investment projects that have been allocated land by the State, leased land, and auctioned land use rights related to the adjustment of detailed planning in the whole province. Accordingly, up to now, there are 31 projects that have approved detailed planning adjustments but have not been reviewed to recalculate land prices according to legal regulations.
It can be seen that the early application of the two laws into practice will contribute significantly to promoting local economic development. This will lead to real estate projects in the province facing difficulties in determining land prices being resolved, speeding up project implementation as soon as possible.
What's New
The representative of the Department of Housing and Real Estate Market Management ( Ministry of Construction ) added that after more than 8 years of implementing the 2014 Law on Real Estate Business, the Housing Law has achieved many important achievements, contributing to promoting the development of the real estate market. However, these two laws still have some shortcomings and problems in the implementation process, so they must be amended and supplemented to ensure compliance with the practical requirements of real estate business activities, ensuring consistency and consistency with the new Laws that have been issued or are about to be issued.
Sharing at the conference, the leaders of the Ministry of Construction emphasized the new points in the Law on Real Estate Business and the Law on Housing 2023. Accordingly, the Law on Housing 2023 has many new points such as dedicating a separate chapter to specifically regulate the implementation of provincial-level housing, in order to create a legal basis for localities to carry out state management of housing. In particular, a number of regulations on the development of commercial housing, public housing, resettlement housing, and individual housing are added to facilitate organizations, businesses, and individuals to participate in housing development. Investors of commercial housing construction projects without having to go through auctions and bidding to ensure consistency with the Land Law 2024. In particular, the Law on Housing 2023 clearly defines the responsibility of allocating land funds for social housing development as the responsibility of local authorities...
Regarding the Law on Real Estate Business 2023, there are many new points to resolve the overlapping scope of regulation of the Law on Real Estate Business with some other laws in the past. Accordingly, it has legalized some provisions of the current Decree on conditions for organizations and individuals when doing real estate business and supplemented provisions on conditions for real estate business enterprises through real estate projects to have minimum equity capital, must ensure the credit balance ratio...
It can be seen that the newly amended and supplemented laws, providing a clearer and more flexible legal framework after implementation, will be a good opportunity for people and businesses. With the strong participation of the Government, ministries, branches and localities in removing legal obstacles, combined with determining land value, it is hoped that it will promote the transparent development of Binh Thuan real estate market in the coming time.
Source: https://baobinhthuan.com.vn/luat-nha-o-va-luat-kinh-doanh-bat-dong-san-2023-thuc-day-thi-truong-bat-dong-san-phat-trien-minh-bach-129375.html
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