According to Lao Dong reporter's research, Vietnam Auction Joint Stock Company has just announced its plan to auction 54 plots of land in Ngo Ba area, Thanh Than village, Thanh Cao commune, Thanh Oai district on March 1, 2025.
Notably, the starting price of these 54 plots of land ranges from 10.9-16.3 million VND/m2, or about 656 million VND to more than 1.3 billion VND/plot.
Previously, in August 2024, Thanh Oai district organized an auction of 68 plots of land in Ngo Ba area (Thanh Than village, Thanh Cao commune) with a starting price of 8.6-12.5 million VND/m2.
At the end of the auction, many plots of land with the highest winning price were up to nearly 100.5 million VND/m2, 8 times higher than the starting price.
The lots often have a winning price of 63 80 million VND/m2, 5-6.4 times higher than the starting price. This level is also much higher than the previous trading market price in the area, ranging from 25-35 million VND/m2.
However, according to the Thanh Oai District Land Fund Development Center, after the end, only 13 auctioned plots were paid in full by customers.
The plots of land with paid prices all have winning prices from 51.6 million to more than 55 million VND/m2, while the entire plot of land with winning prices from 80-100 million VND/m2 has been abandoned.
Then, on March 8, 2025, Soc Son district (Hanoi) plans to re-auction 36 plots of land in Dong Lai village, which were previously unsuccessful due to a group of subjects paying unusually high prices, including 3 plots of land being bid at 30 billion VND/m2.
Accordingly, the auctioned assets are the right to use residential land for 36 plots in Dong Lai village. The plots of land have an area of 90 - 220 m2/plot with a starting price of 9.1 million VND/m2.
The time to receive auction registration documents is from February 12 to 5:00 p.m. on March 5, 2025 (office hours).
Customers pay a deposit from 4.3 to 4:00 p.m. on March 6, 2025 to the bank account of Thanh Xuan Joint Stock Auction Company.
The auction is expected to be held at 9:00 a.m. on March 8, 2025 at Soc Son District Gymnasium (Hanoi).
Regarding these plots of land, previously on December 3, 2024, the Investigation Police Agency - Hanoi City Police issued a decision to temporarily detain 5 subjects Pham Ngoc Tuan, Ngo Van Duong, Nguyen Duc Thanh, Nguyen The Trung, Nguyen The Quan related to the bid of 30 billion VND/m2 at the auction held in Dong Lai village (Soc Son district) and then withdrew.
According to the statement, before the auction, the subjects had determined that the price of only about 30 million VND/m2 could be sold at a higher price, so they controlled the auction results. The purpose was to "break" the land plots that were successfully auctioned.
With this trick, 36/58 plots of land were colluded by the above subjects, paid up to nearly 100 million VND/m2 and then left unused.
In particular, Pham Ngoc Tuan also offered a price of over VND30 billion/m2 (about 12,000 times higher than the starting price), leading to the 36 plots of land being unsuccessfully auctioned.
