HCMC starts building stable land price list in five years

Ho Chi Minh City People’s Committee has approved a project to build a five-year stable land price list which is expected to be announced on January 1, 2020.

The land price list will be built for streets and street stretches. The price of land plots in alleys will remain unchanged. Particularly agricultural land price will be calculated by zone.

In addition, the city will supplement to the list land prices in newly named streets, change and rationalize the land price list built in 2015 to suit the Government’s land price frame, adjust land prices in adjacent areas among districts in association with local infrastructure and socioeconomic conditions, coordinate with neighboring provinces such as Long An, Dong Nai, Binh Duong and Tay Ninh to map adjacent areas according to each type of land, conduct surveys to reach an agreement on the prices for types of land in these areas.

The land price list will be issued in 2020 and stably applied in five years; used for calculating land use fees and taxes when the state recognizes the land use right of households and individuals to the area within the limit, fees in land management and use, fines to administrative violations in the field, land use right value to those who voluntarily return land to the state in case that the returned land is allocated by the state with collected land use fee and recognized land use right and tenants pay rent once for the entire lease period.