Decision No.79/2024 takes effect from October 31, 2024 to December 31, 2025, stipulating a land price rise of 4-38 times compared to those in Decision No. 02/2020.
The lowest price is VND2.3 million (US$90.6)/m² in Thieng Lieng Residential Area of Can Gio District, while the highest price is VND687.2 million ($27,000)/m2 in Dong Khoi, Le Loi, and Nguyen Hue streets of District 1, a more than fourfold increase from the previous price.
In addition to residential land, HCMC has also adjusted the prices of agricultural land and land in high-tech zones. The city has issued specific prices for commercial and service land, rather than calculating them based on a percentage of residential land as previously regulated.
For agricultural land, the city has divided the land into three zones and three locations. Zone 1 includes districts 1, 3, 4, 5, 6, 10, 11, Binh Thanh, and Phu Nhuan. Zone 2 includes districts 7, 8, 12, Tan Binh, Tan Phu, Binh Tan, Go Vap, and Thu Duc City. Zone 3 includes Binh Chanh, Hoc Mon, Cu Chi, Nha Be, and Can Gio districts.
Additionally, Decision 79/2024 provides specific guidelines for calculating other types of land such as land for religious beliefs, non-agricultural production and business land but not commercial and service land, which are calculated based on a percentage of residential land.
The decision also outlines transitional provisions. Specifically, in cases where a competent state agency has received an application from a land user before the effective date of this Decision, the land price for calculating financial obligations and land taxes shall continue to be applied according to the regulations at the time of filing the application.
The land prices in Decision No. 79/2024 will be used as a basis in 12 cases, namely:
- Calculating land use fees at resettlement sites for those compensated for residential land and those assigned residential land for resettlement in cases where they do not meet the conditions for compensation for residential land according to the land price list at the time of approval of the compensation, support and resettlement plan.
- Calculating land use fees when the State recognizes the residential land use rights of households and individuals, when changing the land use purpose of households and individuals.
- Calculating land rent when the State leases land and collects annual land rent.
- Calculating land use tax.
- Calculating income tax from the transfer of land use rights for households and individuals.
- Calculating fees in land management and use.
- Calculating fines for administrative violations in the land sector.
- Calculating compensation for the State when causing damage in land management and use.
- Calculating land use fees, land rent when the State recognizes land use rights in the form of land allocation with land use fees, leasing land and collecting land rent for the entire lease term for households and individuals.
- Calculating the starting price for auctioning land use rights when the State allocates land or leases land for cases where plots of land have been invested in technical infrastructure according to detailed construction planning.
- Calculating land use fees in cases of land allocation without auctioning land use rights for households and individuals.
- Calculating land use fees in cases of selling state-owned housing to current tenants.
