On December 27th, Lac Viet Partnership Auction Company in coordination with the Phu Dien Ward Investment - Infrastructure Project Management Board organized an auction session for land use rights to build a low-rise housing area on land plot code CT in the 8.5ha resettlement area of Phu Dien ward, Bac Tu Liem district (now Phu Dien ward, Hanoi).
The total area of the land area is 14,351.6m2, of which the residential land area for auctioning land use rights is 6,490 m2 (including land plots with symbols TT1, TT2, TT3 and TT4). The remaining area of more than 7,800m2 including green land and internal traffic roads will be built by the investor, and then handed over to state agencies for management.
The starting price for the first round of auction is determined to be 712.9 billion VND for the entire residential land area, corresponding to a unit price of about 109.8 million VND/m2. The auction is organized in the form of direct voting in many rounds.
As a result, after 12 auction rounds, the unit offered the highest price of 121.8 million VND/m2, corresponding to a winning bid price of 790.8 billion VND.
It is known that investors participating in the auction need to deposit 143 billion VND in advance. At the same time, organizers participating in the auction must have their own equity to implement the Project not less than 20% of the total investment, corresponding to a minimum of about 157.9 billion VND.
In addition, investors must prove their capacity and experience by having previously implemented or contributed capital to similar housing and urban area projects with a total investment level meeting the specific regulations in the bidding invitation dossier.
In the first 10 months of this year, revenue from land use fees in Hanoi reached about VND 89,000 billion, an increase of 167% compared to the same period last year. This increase shows that the Hanoi real estate market is recording positive signals.
Since the beginning of the year, many real estate projects have been implemented, contributing to promoting a strong increase in budget revenue. However, compared to the second half of 2024, land auction activities recently tended to slow down. Previously, many land plots in the suburban area of Hanoi had won auctions at a price of over 100 million VND/m2, many times higher than the starting price.
