On June 18, Da Nang City Department of Construction issued a notice on publicizing the selling price of social housing at the project in land plots B4-1, B4-2 of Hoa Hiep 4 Resettlement Area. This project is invested by Thu Do Investment and Trading Joint Stock Company.
According to the notice, immediately after the competent authority issues guidance or regulations on the method of determining land use fees exempted for the area of land for commercial housing construction in the project, the investor is responsible for coordinating with relevant agencies to review and specifically determine. In case the land use fee exempted is higher than the profit expected from the area of commercial housing for sale, lease, or lease-purchase, the enterprise must adjust the selling price plan and rental price of social housing. The investor is responsible for sending the adjustment plan to the Department of Construction to publicly disclose and refund the difference to buyers and tenants of social housing in accordance with regulations.
Da Nang City Department of Construction requests that within 180 days from the date of acceptance of the completed project and putting it into use, the investor must conduct a state audit or independent audit to finalize construction investment costs. This dossier will be sent to the Department of Construction to check the selling price and rental price of social housing.
If the selling price and lease-purchase price of social housing according to the audit, finalization and inspection results of the Department of Construction are higher than the price in the signed contract, the investor is not allowed to collect additional differences from the buyer. Conversely, in case the audited and finalized price is lower than the signed price, the investor is required to refund this difference to the buyer or lease-purchaser of social housing.
The Department of Construction emphasized that investors are not allowed to collect money exceeding 95% of the contract value before homebuyers are granted Certificates of land use rights and ownership of assets attached to land. At the same time, investors are only allowed to collect the remaining part after completing the return of the price difference, if any, to the people.
