Speaking to Lao Dong Newspaper reporters, Lawyer Nguyen Pho Dung - Director of OPIC Law Firm and Associates, Hanoi Bar Association - said that compensation prices for agricultural land may increase from August 1, 2024.
The 2024 Land Law has removed the provisions on land price framework and land will be priced according to market principles. Each locality will decide on the land price list and adjust the price once a year to match the market land price (instead of every 5 years and based on the minimum - maximum land price issued by the Government as at present).
According to Article 159 of the 2024 Land Law, from January 1, 2026, provinces and centrally-run cities will apply a new land price list. The new land price list is regulated to be close to the market land price, which may increase compared to the current price.
In addition, according to the 2024 Land Law, people who are compensated for agricultural land will also receive additional expenses such as support for stabilizing their lives; Support for stabilizing production and business; Support for moving livestock, etc.
In addition, people will also enjoy many benefits regarding compensation and resettlement when their land is recovered according to the 2024 Land Law.
Land compensation when the State reclaims agricultural land from households and individuals
According to Article 96 of the 2024 Land Law, compensation for land when the State reclaims agricultural land from households and individuals is regulated as follows:
- Households and individuals using agricultural land when the State reclaims land, if they meet the conditions for compensation prescribed in Article 95 of the 2024 Land Law, will be regularly compensated with agricultural land or money or land with a different purpose than the type of reclaimed land or housing.
- For households and individuals using agricultural land, when the State reclaims land, compensation for agricultural land is regulated as follows:
+ The area of agricultural land to be compensated includes the areas within the limits prescribed in Articles 176 and 177 of the 2024 Land Law and the area of land recognized by inheritance;
+ For agricultural land area receiving land use rights transfer exceeding the limit before July 1, 2014, compensation and support will be implemented according to Government regulations.
- For agricultural land used before July 1, 2004, where the land users are households or individuals directly engaged in agricultural production but do not meet the conditions to be granted a certificate of land use rights and ownership of assets adjacent to the land according to the provisions of the 2024 Land Law, compensation shall be made according to Government regulations.
