Vinh City plans to auction nearly 2,500 land lots in 2024

Currently, the city is focusing on constructing infrastructure for planning areas to auction land use rights: Planning area in Trung My hamlet (29 lots), My Long hamlet (34 lots), Hung Dong commune; Planning area for dividing lots east of 36m road, Nghi Kim commune, phase 2 - 5.33 ha (110 lots) and Planning area for dividing lots in hamlet 11, Nghi Kim commune (2.47 ha); Planning area for dividing lots east of 36m road, Nghi Kim commune, phase 1 - 5.81 ha (142 lots); Planning area for dividing lots in block 2, Ben Thuy ward (189 lots); Planning area for dividing lots in Kim Chi hamlet, Nghi An commune (90 lots), ...

The infrastructure of the Planning Area in Trung My hamlet, Hung Dong commune was just put up for auction in mid-January 2024, but due to the high starting price, no one has bought the documents. Photo: Nguyen Hai

In addition, for the planning areas that have bid for construction, we are focusing on clearing the ground to implement infrastructure construction in the planning areas divided into lots west of Nguyen Truong To Street, Hung Dong Commune (135 lots); in Block 10, Ben Thuy Ward (41 lots); in Dong Vinh Hamlet - Hung Dong Commune (58 lots); in Yen Vinh Hamlet - Hung Dong Commune (61 lots).

The projects are focusing on completing procedures to invest in the construction of infrastructure for auction and resettlement areas for affected households and site clearance for projects in Ben Thuy ward and Trung Do ward (175 lots); dividing residential land plots to serve the site clearance of Le Mao extended road and dividing plots for auction in Tan An block, Vinh Tan ward (107 lots); dividing residential land plots for auction and resettlement in Nghi Duc commune (283 lots); dividing land plots in the west of hamlet 11, Nghi Kim commune (71 lots); dividing plots in Duc Vinh hamlet, Hung Loc commune (66 lots); Duc Vinh - Duc Thinh hamlet, Hung Loc commune (113 lots); dividing plots for auction and resettlement in Vinh Thinh block, Dong Vinh ward (164 lots); dividing plots in hamlet 10, Nghi Lien commune (142 lots); ...

Vinh City is in need of many investment resources to upgrade and renovate urban infrastructure to meet new development requirements. In the photo: construction of the Ly Thuong Kiet intersection phase 2 connecting to Nguyen Van Cu. Photo: Nguyen Hai

According to Resolution No. 20/NQ-HDND dated December 22, 2023 of the Vinh City People's Council on the 2024 Public Investment Plan, Vinh City plans to collect budget revenue from land use fees of VND 4,455.17 billion, of which land use fees collected from 4 real estate projects for which the City enjoys a 100% regulation rate according to a special mechanism are VND 989.044 billion; land use fees for other projects regulated by 3 budget levels are VND 250 billion; land use fees from auctions, valuations, and resettlement are VND 3,066.133 billion; land use fees from purpose conversion are VND 150 billion.

Currently, Vinh city is implementing a total of 389 projects with a capital allocation of 3,345.8 billion VND; of which 66 projects with 74.153 billion VND have been completed, 135 projects with a capital of 1,672.27 billion VND are under construction, 63 new projects with a capital of 353 billion VND, 80 land exploitation projects with a capital of 947.87 billion VND, and 45 projects are preparing to invest with a total capital of 28.8 billion VND.

Infrastructure of the land auction area in Xuan Dong hamlet, Nghi Duc commune includes 33/33 land lots successfully auctioned at the end of 2023 but the plan is to collect the budget in 2024. Photo: Nguyen Hai

Previously, in 2023, Vinh city planned to collect 1,500 billion VND in budget revenue from land fund exploitation. However, due to the sluggish land auction market, the city was only able to auction 8 lots for nearly 40 billion VND; 355 lots in 11 planning areas were planned to be auctioned to collect over 1,010 billion VND for the budget but have not been implemented. Therefore, along with the land fund transferred from 2023, in 2024, nearly 2,500 land lots in the city will be auctioned for exploitation.

Representative of the Vinh City Land Fund Development Center: Compared to previous years, implementing the Law on Public Investment and the Law on State Budget, infrastructure investment in planning areas to exploit land funds in the city is included in the list of annual public investment plans, so planning resources are prepared for more proactive investment. Accordingly, the city budget will allocate funds to compensate and support site clearance, the amount collected after the auction will be deducted to pay for infrastructure construction contractors and auction services, the remaining amount will be paid into the budget for accounting according to the Law on Budget and the recent Resolution of the Provincial People's Council./.

Source: https://baonghean.vn/thanh-pho-vinh-du-kien-dua-gan-2500-lo-dat-vao-dau-gia-trong-nam-2024-post285113.html