Me Linh District (Hanoi City) has just organized an auction of the right to use 11 plots of land in Dong Cao village, Trang Viet commune on December 19. The plots of land put up for auction have an area of 100 to 155m2/plot, with a starting price of over 1.5 million VND/m2.
The auction had 90 customers participating with 391 applications. As a result, after 7 rounds (5 mandatory rounds), 11 plots of land were successfully auctioned, with the total expected amount of more than 106 billion VND.
Of which, the land plot with the highest winning price is more than 97.5 million VND/m2 and the lowest winning price is more than 79.5 million VND/m2.
According to Dinh Ngoc Thuc, Director of the Me Linh District Land Fund Development Center, this is the 14th successful auction in 2024. The total amount collected is 1,760 billion VND, exceeding the plan assigned by Hanoi city.
With revenue from land use rights auctions, the district will invest in building infrastructure to develop the socio-economic system, meeting the criteria to become a district after 2025 and a city under the capital after 2030.
It is expected that on December 26, Me Linh district will continue to auction 11 plots of land at point X1, Dong Cao village, Trang Viet commune, Me Linh district, Hanoi city. The plots of land have an area of 87.4 - 142m2, starting price of 1.5 million VND/m2. The auction will be conducted by direct voting in multiple rounds at the auction and a minimum of 5 mandatory rounds.
Previously, on December 13, also at the auction site of Dong Cao village, Trang Viet commune, Me Linh district, 11 plots of land were successfully auctioned. Of which, the highest winning bid was 85.5 million VND/m2, the total expected amount of money collected from the auction was more than 157 billion VND.
Regarding land auctions, recently, the Hanoi People's Committee requested localities to carefully evaluate the effectiveness of land allocation and land lease through auctions.
In particular, units should avoid organizing auctions in areas with low starting prices that are not enough to cover the costs of site clearance and infrastructure investment. Such land can be converted to serve resettlement or public works construction, contributing to supporting socio-economic development projects in the area.
The Standing Committees of District Party Committees, District Party Committees, and City Party Committees are also assigned to closely coordinate with state agencies to implement measures to stabilize the real estate market and avoid complicated problems. The Department of Natural Resources and Environment is assigned to monitor, urge, and summarize the implementation results, and report to the City People's Committee in February 2025.
