Thu Duc City begins paying 7,500 billion VND in compensation for the Ring Road 2 project.

The Ring Road 2 project affects 1,166 households. Thu Duc City, Ho Chi Minh City, is urgently completing compensation paperwork and will begin payments in December, totaling approximately 7,500 billion VND.

This information was provided by Mr. Vo Tri Dung, Head of the Compensation and Land Clearance Board of Thu Duc City, Ho Chi Minh City, at the regular press conference on the afternoon of November 21st.

According to Mr. Dung, regarding the compensation issue for the Ring Road 2 project, in early November, the People's Committee of Thu Duc City held a conference to gather public opinion on the draft compensation, support, and resettlement plan; including the compensation rates.

Mr. Vo Tri Dung provided information at the press conference. Photo: HV

Mr. Dung stated that the majority of households agreed with the project's implementation, while some households requested a review of the compensation rates, deeming them inappropriate.

"The People's Committee of Thu Duc City has taken note of the feedback and has requested the consulting unit to re-survey the current situation and gather more information…in order to make appropriate adjustments," Mr. Dung said.

Regarding households that have not yet agreed, according to Mr. Dung, the city has established working groups to contact and persuade them to accept compensation. Cases exceeding the city's authority will be submitted to the City People's Committee and relevant departments and agencies to find solutions.

Mr. Dung further informed that Thu Duc City is urgently completing compensation dossiers and will begin paying approximately 7,500 billion VND to residents in December.

The Ring Road 2 project affects 1,166 households, with compensation amounting to approximately 7,600 billion VND.

According to the compensation rates, the area along Pham Van Dong street frontage has the highest price at 111.5 million VND/m2.

The location with the lowest compensation price is land in alleys of 100m2 or more on Street No. 4, Street No. 8, Street No. 11 (Truong Tho Ward) at 28.3 million VND/m2; Street No. 22 (Phuoc Long B Ward), Street No. 79 (Phuoc Long B Ward) at over 26.4 million VND/m2.

Why is the 2.7km section of Ho Chi Minh City's Ring Road 2, despite spending over 2 trillion VND, still behind schedule? Even though residents have handed over the land, the 2.7km section of the Ring Road 2 project, which received over 2 trillion VND, is still behind schedule due to procedural obstacles from various departments and agencies in Ho Chi Minh City.

Ho Chi Minh City finalizes plan for the Ring Road 2 - Pham Van Dong intersection . According to the plan recently selected by the Ho Chi Minh City People's Committee, the Ring Road 2 intersection with Pham Van Dong road will have a 3-level design with 3 overpasses and 1 underpass.

Land compensation for the Ho Chi Minh City Ring Road 2 project is expected to reach a maximum of over 111 million VND/m2 for properties facing Pham Van Dong Street, and a minimum of 26 million VND.

Source: https://vietnamnet.vn/tp-thu-duc-bat-dau-chi-tra-7-500-ty-dong-boi-thuong-vanh-dai-2-2344315.html