Cars parked all over the street, thousands of people jostle to bid on land in Nghe An

Land auction records

On the morning of September 25, at the headquarters of the People's Committee of Nghi Phong commune (Nghi Loc district, Nghe An province), an auction of planned land in hamlet 1 with 114 plots of land was held. The plots of land have an area of 180m2 and 220m2, with starting prices of 9.4 million/m2 and 10.8 million/m2.

Cars blocked the road leading to the gate of Nghi Phong Commune People's Committee headquarters.

According to the resolution on adjusting administrative boundaries, establishing wards and arranging commune-level administrative units approved by the People's Council of Nghe An province in June 2024, Nghi Phong commune of Nghi Loc district will be merged into Vinh city.

The merger and becoming one of the city's centers, as well as the large demand for land use, has caused land prices in Nghi Phong commune to increase recently.

Because of that, thousands of people crowded to attend the auction of planned land in Hamlet 1. Due to the large number of participants, many people did not have seats in the hall and had to stand to participate.

The hall is not large enough to accommodate investors coming to auction land.

According to the roadmap, Nghi Phong commune, Nghi Loc district will be merged into Vinh city.

Mr. Nguyen Cong Anh, Chairman of Nghi Phong Commune People's Committee, said: "At the time of closing the application, there were 1,600 application files for land auction registration. The auction will be conducted by secret ballot, will be held through noon and is expected to last until 9:00 p.m. the same day."

According to the Chairman of Nghi Phong commune, with 1,600 registered applications, this is the auction with the largest number of applications in the commune and the largest in Nghi Loc district up to this point.

Strengthening management and monitoring of real estate price fluctuations

Regarding the incident, on September 23, Mr. Le Hong Vinh, Vice Chairman of Nghe An Provincial People's Committee signed and issued Document No. 8203/UBND-CN on strengthening the management and control of real estate price fluctuations.

The real estate market in the area is in a period of rapid development, contributing positively to socio -economic development and improving technical infrastructure. However, the situation of "inflating and pushing up prices" causing the phenomenon of "virtual fever" continues, causing many concerns about market stability and social security and order.

The hall was packed with people coming to participate in the auction.

In particular, some investors have organized capital mobilization, sold unfinished real estate products or transferred land use rights without complying with legal regulations.

This behavior not only affects the sustainable development of the market but can also lead to disputes and lawsuits, eroding people's trust in the real estate market.

To deal with this situation, the People's Committee of Nghe An province has issued an official dispatch to departments and localities, requesting to strengthen the management and control of real estate market prices.

In particular, the Provincial People's Committee assigned the Department of Construction to review and inspect real estate business activities, especially in areas showing signs of unusual price increases. Information about the market and projects will be made public to ensure transparency and prevent fraudulent activities;

The Department of Natural Resources and Environment will coordinate with the Department of Justice and the Department of Finance in supervising land use rights auctions to ensure transparency. Unusual auction activities will be strictly inspected and handled to prevent profiteering;

District People's Committees are required to control real estate trading activities, especially land plots in subdivided areas. Localities also need to publicize land use planning and approved projects to ensure transparent information for the market;

Due to the high demand for land, real estate prices in Nghi Phong commune have increased recently.

Nghe An Provincial People's Committee emphasized the importance of strictly controlling real estate-related activities to prevent "virtual fever" and "price inflation". Clarifying the causes of price fluctuations is necessary to propose appropriate solutions to ensure sustainable and healthy development for the real estate market in the future.

Source: https://www.nguoiduatin.vn/o-to-dau-kin-duong-hang-nghin-nguoi-chen-chan-dau-gia-dat-nghe-an-204240925144746681.htm