Pursuant to Point e, Clause 1, Article 160 of the 2024 Land Law, compensation when the State reclaims land will be calculated based on specific land prices.
At the same time, based on Article 30 of Decree 71/2024/ND-CP, specific land valuation is carried out based on Articles 158 of the 2024 Land Law and Articles 4, 5, 6, 7 of Decree 71/2024/ND-CP; results of synthesizing and analyzing information on market land prices; factors affecting land prices.
At Point d, Clause 6, Article 158 of the 2024 Land Law, the land price adjustment coefficient method is applied to specifically assess compensation when the State reclaims land in cases of reclaiming many adjacent plots of land with the same purpose of use and has been regulated for land prices in the land price list but is not eligible to apply the comparison method.
Accordingly, in Clause 5, Article 7 of Decree 71/2024/ND-CP, specific land prices are determined by the method of land price adjustment coefficient calculated as follows:
Land price of land plot to be valued (1m2) = Land price in land price list of land plot to be valued x Land price adjustment coefficient
In particular, the land price of the land price list will be built according to area, location and submitted to the People's Council of the same level to decide on the first land price list for announcement and application from January 1, 2026. Every year, the People's Committee at the provincial level is responsible for submitting to the People's Council at the provincial level a decision to adjust, amend, and supplement the land price list for promulgation and application from January 1 of the following year.
The adjustment of the land price list will be close to the market land price where the land compensation price is calculated according to a specific land price (including the land price adjustment coefficient method implemented according to the land price list).
Therefore, from January 1, 2026, depending on the area where the market land price will affect the land compensation price, the compensation price may be higher than at present, except in the case of compensation by leasing land with one-time payment for the entire lease term, the land price for calculating land rent will be a specific land price decided by the People's Committee at the competent level right at the time of approval.
