On November 27, the Department of Planning and Investment of Binh Dinh province announced that the province has just announced the auction of land use rights to implement the Residential, Service and Education Area project west of Tay Son Street, Quang Trung Ward (Quy Nhon City), with a starting price of more than 558 billion VND.
The project site is located on the land of Binh Dinh Transport Vocational Training Center and adjacent areas in Quang Trung Ward, with an area of over 6.3 hectares. Of which, the land area for building adjacent houses is over 2.5 hectares, land for social infrastructure is 0.7 hectares, land for commercial services is nearly 0.5 hectares and land for traffic infrastructure and technical infrastructure is over 2.6 hectares. The population is about 1,100 people.
The project cost is over VND 1,100 billion (excluding land use fees from the auction of land use rights). The project implementation schedule is 48 months from the date of the decision to recognize the auction results or approve the investor.
The purpose of land use is to build urban residential land; the State allocates land with land use fee collection, leases land with one-time land rent collection for the entire lease term through the form of land use right auction. The term of land allocation and lease to investors is 50 years, buyers of adjacent houses attached to land use rights are entitled to long-term stable use.
