A recent example of this is the BT projects in Thu Thiem area with 580 real estate products and 720 apartments, where the red book application for tenants were ceased due to violation revealed by land inspectors.
In another case, it was pointed out by the Government Inspectorate that HCMC authorities were at fault for assigning an area of land to Khanh Hoi Real Estate Company, who then transferred the land to Novaland, another real estate corporation. Novaland as a result had to halt red book applications for the tenants already living in their apartments.
Similarly, residents of many other apartment complexes fret not having red books while State inspectors look into unwise decisions from HCMC when allocating land without assessing investors’ capacity, holding land auctions or following urban zoning scheme.
In total, there are more than 24 real estate projects being inspected on the matter, some which have been transferred to investigation agencies.
Meanwhile, hundreds of projects have not applied for red book certificates due to violations on the investor’s part, but only five of them have been named for sanction.
These violations include the investors using sold properties as mortgage, failing to fulfill land-related financial obligations, or having projects invested in by the police.
The Department of Natural Resources and Environment of HCMC are looking to protect the rights of the people in cases where red book applications are being halt due to other parties’ violations.
Therefore, they have requested instructions from the General Department of Land Administration (GDLA) on the issue of red books for home buyers living in projects that are being investigated.
The GDLA in response urged relevant authorities to review inspected cases carefully, and proceed with issuing red books if there are no legal or administrative roadblocks.
