Under the decision, Chairman of the HCMC People's Committee Phan Van Mai is Head of the Appraisal Council for Land Price in HCMC. The council also has two deputy heads including Vice Chairman of the HCMC People's Committee Bui Xuan Cuong and Director of the Municipal Department of Finance Nguyen Hoang Hai.
The council is responsible for evaluating land price lists in accordance with the law and using the official seal of the HCMC People's Committee for its operations. The Head of the Appraisal Council for Land Price in HCMC will decide to establish a supporting team for the council.
During the land price appraisal process, the council will invite the Vietnam Fatherland Front Committee of HCMC and the Farmers' Association of the city to participate in its sessions.
Decision No. 3521/QD-UBND on establishing the Appraisal Council for Land Price in HCMC came into effect on August 23. The council will dissolve itself after completing its duties and submit a report to the HCMC People's Committee.
In July, the HCMC Department of Natural Resources and Environment launched a draft adjustment of land prices in HCMC. The adjusted land price list will only be in effect from August 1 to December 31, 2024, if approved by the HCMC People's Council. After this period, there will be a review and assessment of the economic and social impacts, and further adjustments to the land price list will be made for implementation from January 1, 2025, to the end of 2025.
The new land price list is expected to increase prices by up to 20-50 times compared to the current rates. According to legal experts and real estate specialists, the draft land price table is not appropriate to the current situation.
