On October 28, the People's Committee of Thu Duc City held a conference to announce the draft compensation, support and resettlement plan for 1,166 households affected by the Ring Road 2 project.
According to the draft land price list for compensation calculation, the highest compensation level is recorded at the frontage of Pham Van Dong Street with more than 111 million VND per square meter.
Other major roads such as Kha Van Can, Do Xuan Hop, Nguyen Van Ba, and Dang Van Bi are also valued at over 100 million VND per square meter.
Regarding small alley locations, the lowest land price was recorded at more than 26 million VND per square meter, applied to land in alleys such as Road 22 (Phuoc Long B Ward) and Lane 147 (Phuoc Long B and Tang Nhon Phu B Wards).
For agricultural land, the highest compensation level is more than 9.4 million VND per square meter for land for perennial crops on major roads such as Pham Van Dong, Kha Van Can, parallel to Hanoi Highway, Duong Dinh Hoi, Tang Nhon Phu, Do Xuan Hop, Dang Van Bi and Nguyen Van Ba.
Meanwhile, land for annual crops or aquaculture in these areas has a compensation level of over 7.78 million VND per square meter.
At the lowest position, agricultural land for growing perennial crops is valued at compensation of more than 6.7 million VND per square meter, while land for growing annual crops and aquaculture is at the lowest level of more than 6.4 million VND per square meter.
Thu Duc City People's Committee affirmed that this compensation land price does not include construction works on the land and is assessed as "close to market price".
The draft compensation plan will be made public from October 28 to November 27 at the headquarters of the People's Committees of wards and the management boards of neighborhoods within the project scope.
After the public consultation period, a public consultation conference is scheduled to take place on November 28.
Mr. Mai Huu Quyet - Vice Chairman of Thu Duc City People's Committee said that Ho Chi Minh City has arranged capital of about 7,600 billion VND for the project in 2024.
"If people soon agree with the compensation policy, we will pay right before Tet so that people can soon stabilize their lives," Mr. Quyet shared.
Chairman of Thu Duc City People’s Committee Hoang Tung affirmed that Thu Duc City puts the legitimate interests of affected people and businesses first. He also emphasized that the compensation price has been built “close to market price,” meeting the majority of people’s expectations.
At the same time, Mr. Tung said, Thu Duc City will continue to record people's wishes on resettlement arrangements to suit their living and working needs. "Try to disburse compensation in early December 2024 and complete the handover of the site in June 2025" - Mr. Hoang Tung said.
The Beltway 2 project through Thu Duc City includes two sections: section 1 from Phu Huu bridge to Vo Nguyen Giap street, more than 3.5 km long, and section 2 from Vo Nguyen Giap street to Pham Van Dong street, nearly 2.5 km long.
To implement the construction, Thu Duc City plans to reclaim about 61.15 hectares, affecting 1,166 households, individuals and organizations, with a total compensation and support cost of about 7,600 billion VND.
To prepare for resettlement of households, Thu Duc City People's Committee has completed housing and land funds in many resettlement areas, including: Dai Nhan housing area in Van Phuc urban area (Hiep Binh Phuoc ward); Dong Tang Long urban area (Long Truong and Truong Thanh wards); 50-hectare resettlement area (Cat Lai ward); Long Binh - Long Thanh My resettlement area; C8 apartment building (Tang Nhon Phu A ward); Lot R7 Duc Khai apartment building (An Khanh ward) and Lot CD area of 17.3 hectares (An Khanh ward).
