Ho Chi Minh City: People buy houses for 20 years but still have no pink book

Duong Hong Company has fulfilled its financial obligations, paid land use fees and has been granted 229 pink books, the remaining 25 houses of the project have not been granted pink books - Photo: TAM DUC

The Ho Chi Minh City Real Estate Association (HoREA) has just sent a document to the Ho Chi Minh City People's Committee and the Department of Agriculture and Environment to report on the implementation status and propose solutions to difficulties and obstacles in the 9B4 - 9B8 housing area (Duong Hong residential area) in Binh Chanh district.

Many projects have not been granted pink books

According to HoREA, the Duong Hong residential area was allocated land by Ho Chi Minh City in 2004. The investor, Duong Hong Construction and Housing Trading Joint Stock Company, has fulfilled its financial obligations and completed 100% of the infrastructure. After that, the investor sold the houses and handed over 90% of the pink books, which are 229 units.

According to HoREA, after 20 years of infrastructure investment and business, the investor has sold all housing products in the project but is stuck in not being able to issue pink books for about 10% of the houses (25 units), causing many customers to complain and sue.

In addition to this project, statistics from the Department of Construction also show that there are about 17 commercial housing projects with problems related to determining financial obligations arising (if any) from the city not buying back housing funds in the project to serve resettlement.

Of which, 2 projects are on the list of projects surveyed by the Ho Chi Minh City People's Council in 2023, including the Tien Hung housing project (Ehome 3) in Binh Tan district with 200 apartments and the Phuong Viet apartment project in district 8 with 244 apartments...

At the RivaPark 504 Nguyen Tat Thanh project (District 4), invested by Vietcomreal Real Estate Joint Stock Company, 150 out of 320 apartments of the project were sold to customers, but they also encountered problems.

Stop customers from filing lawsuits to claim their pink books

Talking to Tuoi Tre Online , Mr. Le Hoang Chau - Ho Chi Minh City Real Estate Association - said that in 2003, to promote socialized development and create housing for low-income people, Ho Chi Minh City People's Committee issued Directive No. 07, requiring housing project investors to reserve 10% of land fund for housing construction or 20% of housing fund sold according to the principle of capital preservation (with audit) for the state to put into the housing and land fund serving the resettlement program for key projects of the city.

After that, the Ho Chi Minh City People's Committee issued a directive on investing in the construction of 30,000 apartments for resettlement in the city, encouraging businesses to build apartments for resettlement, and after the construction is completed, the housing fund will be sold back to the city at the construction cost plus a fixed profit.

Based on the provisions of these two directives, for most commercial housing projects assigned land by the City People's Committee during the period from 2003 to 2005, the City required investors to reserve 10% of residential land or 20% of housing fund or resell apartments in the project to the city for resettlement purposes.

However, during the project implementation, the investors consulted the People's Committee of the district where the project is located regarding the lack of need to buy back the housing fund and land for resettlement purposes in the project. The Ho Chi Minh City People's Committee agreed not to buy back the resettlement houses and requested to review and determine the financial obligations arising (if any) from the city not buying back these houses and land.

Since then, the city has been slow to determine additional financial obligations in projects because they are not specifically regulated by law, leading to home buyers not being granted pink books and complaints from the people.

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Source: https://tuoitre.vn/tp-hcm-nguoi-dan-mua-nha-20-nam-van-trang-so-hong-20250523105432152.htm