Specific land price determination procedure
According to Article 33 of Decree 71/2024/ND-CP, the specific procedures for determining land prices are as follows:
Step 1. The organization conducting land valuation collects, synthesizes and analyzes information.
- Information to be collected includes:
+ Information about the land plot to be appraised
+ Input information for applying land valuation methods.
The collection and synthesis of information on land plots and input information to apply land valuation methods are carried out according to Form No. 02 and Form No. 03 in Appendix I issued with Decree 71/2024/ND-CP.
Accordingly, the organization performing land valuation must be responsible for the accuracy and completeness of information to apply the land valuation method and provide information on investigation results and input information to the competent land management agency to update the land price database.
Step 2. Choose a land valuation method
The organization conducting land valuation is responsible for analyzing and selecting appropriate land valuation methods to propose to the specific Land Valuation Council for decision based on:
- Land use purpose
- Characteristics of the land plot or land area to be appraised
- Conditions for applying land valuation methods include:
+ Comparison method: Applied in cases where there are ≥ 3 land plots with the same land use purpose or there are similarities in factors affecting the land price transferred on the market or in cases where the auction winner has won the land use rights auction and the auction winner has fulfilled his financial obligations.
+ Income method: Applied to value agricultural and non-agricultural land plots and areas that are not residential land and do not meet the conditions for applying the comparison method but can determine income and expenses from land use according to the land use purpose for valuation.
+ Surplus method: Applied to value land plots and land areas for investment projects that do not meet the conditions for applying the comparison method or income method, but can estimate the total development revenue and total development costs of the project.
+ Land price adjustment coefficient method: Applied to calculate compensation when the State reclaims land in cases of reclaiming many adjacent land plots, with the same purpose of use and land price specified in the land price list but not eligible to apply the comparison method.
Step 3. Develop an explanatory report on the land price plan and draft Land Valuation Certificate.
- The organization implementing land valuation shall prepare an explanatory report on the development of a land valuation plan, a draft land valuation certificate and send it to the competent land management agency;
Accordingly, the explanatory report on land price plan development and land valuation certificate are made in accordance with Form No. 16 and Form No. 17, Appendix I, issued with Decree 71/2024/ND-CP, respectively.
Authority to decide specific land prices
Pursuant to Clause 2, Article 160 of the 2024 Land Law, the authority to decide on specific land prices belongs to the Chairman of the People's Committee (UBND) at the district or provincial level, depending on each case. Specifically:
- The Chairman of the Provincial People's Committee has the authority to decide on land prices in cases under the authority of the Provincial People's Committee, including:
+ Land allocation, land lease
+ Allowing change of purpose or recognition of land use rights
+ Extension/adjustment of land use term
+ Adjust detailed construction planning
+ Land recovery
+ Determine the starting price for auction of land use rights or the value of land use rights when equitizing an enterprise
- The Chairman of the District People's Committee has the authority to decide on land prices in cases under the authority of the District People's Committee, including:
+ Land allocation, land lease
+ Allowing change of purpose or recognition of land use rights
+ Extension/adjustment of land use term
+ Adjust detailed construction planning
+ Land recovery
+ Determine the starting price for land use rights auction.
