Accordingly, from October 28 to November 27, the People’s Committee of Thu Duc City posted the draft compensation, support, and resettlement plan for the Ring Road 2 project (Section 1 from Phu Huu Bridge to Vo Nguyen Giap Street, and Section 2 from Vo Nguyen Giap Street to Pham Van Dong Street) at the headquarters of the People's Committees of the wards: Tang Nhon Phu B, Phuoc Long A, Phuoc Long B, Truong Tho, Binh Tho, and Linh Dong, as well as at the headquarters of neighborhood management boards within the project area.
There are about 1,166 households living in the two sections above affected by this project, with a land retrieval surface of 61.15ha. The total compensation and support fund is estimated at VND7.6 trillion (US$299.7 million).
An independent consulting unit has proposed over 122 land value positions for the project, which have been reviewed and evaluated by the professional departments under the People's Committee of Thu Duc City and the project's Land Clearance and Compensation Board. The land prices listed do not include the value of buildings and structures and are generally in line with market prices.
Additionally, the resettlement price based on land plots will be determined using the land price list as specified in Decision No.79 of the HCMC People's Committee amending and supplementing Decision No.02/2020 of the HCMC People's Committee on land prices in HCMC (effective as of October 31, 2024, to December 31, 2025), which is highly beneficial to residents.
At present, Thu Duc City is soliciting feedback and suggestions from residents to arrange suitable resettlement locations that meet the needs and desires of residents regarding their living and working locations.
The specialized departments of Thu Duc City will also focus on maximizing support for residents regarding paperwork such as land use right certificates, completion procedures to ensure the rights of the people and facilitate the smooth implementation of land clearance compensation.
Head Vo Tri Dung of the Thu Duc City Land Clearance and Compensation Board, in both sections 1 and 2 of the project, there are 683 cases eligible for residential land compensation requiring resettlement and about 82 cases not eligible for residential land compensation but have houses that need to be relocated and require resettlement.
According to the draft plan, some roads have higher compensation values:
- the residential land on Pham Van Dong Street – at VND111.5 million/m2 ($4,400) compared to VND89.1 million/m2 ($3,500) according to Decision 79
- the second zone on Pham Van Dong Street (alleys 5m wide or more) – at VND71.8-78.5 million/m2 ($2,800 - 3,100)
- the third zone (alleys 3-5m wide) - at VND63.2 million/m2 ($2,500)
- the residential land on Kha Van Can Street – at VND101.5 million/m2 ($4,000) compared to VND64.8 million/m2 ($2,555) according to Decision 79
- the residential land on Do Xuan Hop Street at VND101.9 million/m2 ($4,018) compared to VND66.2 million/m2 ($2,600) according to Decision 79
- the frontage of Hanoi Highway – at VND90 million/m2 ($3,550)
- Nguyen Van Ba Street – at VND100.5 million/m2 ($3,963).
The People's Committee of Thu Duc City has prepared sufficient funds for houses and land in resettlement areas, including Dai Nhan Residential Area (Hiep Binh Phuoc Ward), Dong Tang Long Urban Area (Long Truong and Truong Thanh wards), 50-hectare Resettlement Area (Cat Lai Ward), Long Binh Resettlement Area (Long Thanh My Ward), C8 Apartment Building (Tang Nhon Phu A Ward), R7 Block of Duc Khai Apartment Building (An Khanh Ward), and the C-D blocks in the 17.3-hectare area (An Khanh Ward).
These resettlement areas are conveniently located, ensuring that residents can stabilize their lives after receiving their new homes and land.
