HCM City land price frame almost unchanged in last 3 years

HCM City People’s Committee has issued the land price frame in the city, which said that the highest urban land price is 81 million dong, the lowest at 110,000 dong per square meter.
The ceiling price frame has been unchanged from 2009.

In particular, the price of land for growing water paddy, annual plants and raising seafood is ruled at 58,000 dong to 162,000 dong per sqm. Land price for growing long term plants ranges between 68,000 and 190,000 dong per sqm. Price of forestry land for production is 43,000-72,000 dong per sqm. Price of defence forest land is equal to 80% of production forestry land price.

For urban and rural land, the lowest price is 110,000 dong per sqm in Thieng Lieng residence area, the highest is 81 million dong per sqm in the streets of Dong Khoi, Le Loi, Nguyen Hue, Dist 1.

The ceiling price frame has been almost unchanged since 2009. Land in alleys Grade 1 is applied with the price calculation coefficient of 0.2-0.5 times compared with street land price. Other kinds of land have prices of no more than 0.8 times against street land price.

The regulation on land price will be used to calculate land using rental, income tax from transferring land usage right, registration fee. It will also be applied on compensation for those who violate law on land. New land price frame of HCM City is the basis to calculate land using rental for households and individuals.

In case the State assigns and leases land according to method of auctioning land using right or tendering projects, the starting price of land using right must not be lower than land prices in this rule. – Vietbiz24

Tags: Vietnam Property market, Vietnam property sector, vietnam real estate market

Posted by VBN on Jan 1 2012. Filed under Real Estate. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry