According to the draft, land prices will be determined by multiplying the land price specified in the Land Price Table by the corresponding K coefficients. The applicable K coefficient will vary depending on the land category, user group, land-use form, area, and land location.
The draft has established K coefficients to adjust land prices for all 168 wards, communes, and special zones in Ho Chi Minh City, on a road-by-road basis, for two land categories: non-agricultural land and agricultural land.
For non-agricultural land in Position 1 under the Land Price Table, the applicable K coefficients are those specified in Columns 8, 9, and 10, respectively, of Appendix I attached to the draft Decision. For non-agricultural land in Positions 2, 3, and 4, the K coefficient shall be determined by multiplying the corresponding coefficient by 1.35.
Notably, the K coefficient applicable to commercial and service land, as well as non-agricultural production and business land other than commercial and service land within the High-Tech Park, is set at 1.0.
For agricultural land located within the administrative boundaries of wards and communes, the applicable K coefficients are those specified in Column 11 of Appendix I attached to the draft decision. Meanwhile, the market adjustment coefficient applicable to agricultural land within the High-Tech Agricultural Park is set at 1.0.
In central Ho Chi Minh City, three streets with the highest residential land prices, including Le Loi, Nguyen Hue, and Dong Khoi, are all assigned a K coefficient of 1.39. Accordingly, the land use fee for residential land on these streets will be calculated based on the land price stipulated in the Land Price Table, which is VND687.2 million per square meter, multiplied by the K coefficient of 1.39.
Under the draft, the K coefficients for adjusting agricultural land prices are set at significantly higher levels, ranging from 1.0 to 10.56 times.
Notably, agricultural land in rapidly urbanizing areas, such as along Nguyen Thi Tu Street and Tran Van Giau Street in Tan Vinh Loc Commune, is subject to a K coefficient of as much as 10.12. In addition, several roads in Ho Tram Commune are assigned K coefficients of up to 10.56 for agricultural land.
The draft also provides transitional provisions, stating that land-related financial obligation dossiers that have already been approved by competent authorities or for which notices of financial obligations have been issued before the effective date of the decision shall continue to be implemented in accordance with the previously issued approvals or notices.
For specific land prices used as the basis for calculating land use fees, land rental payments, and determining reserve prices for land-use-right auctions, the draft stipulates the following: Where a valuation report has already been issued by the Specific Land Price Appraisal Council, the procedures for approval of the specific land price shall continue without the need to apply the provisions of this decision. Where no valuation report has yet been issued by the Specific Land Price Appraisal Council, the determination of the specific land price shall be carried out in accordance with the provisions of this decision.
