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Initially printed 26 The month of january 2010
Keywords: land prices, Ho Chi Minh City, land
use legal rights
Summary
The People’s Committee of Ho Chi Minh City ("HCM
City") promulgated a choice No. 102/2009/QD-UBND dated 24
December 2009 on land prices relevant within the locality of HCM City
("Decision 102").
Full Update
Decision 102 reaffirms using land prices and offers the
listing of prices of residential lands situated in every street in HCM
City and techniques to calculate prices from the other kinds of lands.
Decision 102 formally becomes effective from 1 The month of january 2010 and
replaces Decision 89/2008/QD-UBND dated 20 December 2008.
Using Land Prices
The land prices function as the foundation for calculation from the
following charges/amounts:
- Taxes for land use and land use right transfer
- Land use charges and land rent for allocation or leasing of
land
- Worth of land use legal rights
- Registration charges for assignment of land use legal rights
- Compensation once the Condition recovers land to be used for
objectives of national defence and security, national interest or
public interest and economic development
- Compensation and penalty payable by persons in breach from the
laws and regulations on land
The Cost Framework for Kinds of Lands
Decision 102 offers the cost framework of three kinds of
lands: farming land, non-farming land and unused
land.
- Farming Land
Farming land is split into five groups: land for
planting annual crops, land for perennial crops, land for
aquaculture, land for salt production and forest land for
production. Decision 102 constructs five cost tables corresponding
towards the five groups of lands. Within the cost table, the cost of the
land generally varies according to its zone and/or its location.
- Non-farming Land
Non-farming land is split into residential land, land for
production or business along with other lands.
Residential land includes lands adjoining to roads
(frontage) and land not adjoining to roads (inside a lane). Decision
102 includes a summary of cost of residential lands adjoining to
every street in HCM City. Further, their email list supplies a grounds for
calculating prices of residential land inside a lane according to
identified criteria.
The cost of land for production or business is equivalent to 60
percent from the cost of residential land so it adjoins.
Lastly, the costs of other lands are made the decision in line with the
prices of the adjoining lands.
- Unused Land
For unused land which the utilization purpose is not made the decision,
its cost is calculated in line with the prices of their adjoining
land.
For unused land which the utilization purpose continues to be made the decision, its
cost is calculated in line with the cost from the land using the similar
use purpose.
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This short article provides information and comments on legal
issues and developments of great interest. This isn’t a
comprehensive management of the topic covered and isn’t
meant to provide legal counsel. Readers should seek specific
legal counsel when considering action with regards to the matters
discussed herein. Please also browse the JSM legal publications Disclaimer.
Resourse: http://mondaq.com/x/92834/agriculture+land+law/
Real estate in Vietnam…! Touring Ho Chi Minh City!
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Chao Qu: they changed the law from last year. Now foreigners can buy apartments there leagally..
