In recent days, public opinion has paid special attention to the information that a household in the Hoan Kiem Lake area is expected to be compensated about 400 billion VND to relocate and serve the investment project to build a park and square on the east side of Hoan Kiem Lake.
This is considered one of the most valuable cases of compensation and site clearance ever recorded in Hanoi.
According to the reporter's investigation, the above household is said to be the owner of the land plot at the addresses 63 - 65 - 67 Dinh Tien Hoang Street (Hoan Kiem Ward, Hanoi City).
This land has an area of over 400m2, is granted 2 land use right certificates, with a frontage facing Hoan Kiem Lake, a location assessed as a rare "golden land" of Hanoi.
The plot of land has a frontage of about 15m, divided into many compartments for business. According to information from the People's Committee of Hoan Kiem Ward, the household has agreed with the compensation, support and resettlement plan developed by the People's Committee of Hoan Kiem Ward.
However, due to the procedure for declaring inherited assets, it is expected that in about the next 10 days, after completing all legal documents according to regulations, this family will officially receive compensation.
The compensation level of about 400 billion VND for a land plot of more than 400m2 is assessed to be quite close to the land price list just approved by the Hanoi People's Council and the market price level in the central ward of the capital.
According to the Hanoi Land Price List officially applied from January 1, 2026, the highest land price in this area is more than 702 million VND per square meter, with plots adjacent to the road (location 1) on a series of roads such as Ba Trieu (from Hang Khay to Tran Hung Dao), Dinh Tien Hoang, Hai Ba Trung (from Le Thanh Tong to Quan Su).
This level is also applied to Hang Dao, Hang Khay, Hang Ngang, Le Thai To, Ly Thuong Kiet, Nha Tho and Tran Hung Dao streets (from Tran Thanh Tong to Le Duan). Compared to the previous land price list, the highest residential land price in Hanoi increased by 2%.
The adjusted Hanoi Land Price List is used as a basis for calculating compensation, determining land prices for resettled people and people compensated for residential land; calculating land use tax, personal income tax from land use rights transfer. The price list is also used to adjust fees and charges related to land use, transfer or when carrying out administrative procedures on land.
Meanwhile, a survey on the market shows that the actual asking price in this area is currently fluctuating around 1 billion VND/m2, even higher for plots of land with special locations, directly opposite Hoan Kiem Lake.
With this calculation, the total compensation of about 400 billion VND for an area of over 400m2 is considered by many to be quite close to the new land price list, in line with market price with the principle of ensuring the legitimate rights and interests of land users when the State reclaims land to serve general development goals.
In mid-December 2025, the People's Committee of Hoan Kiem Ward also paid compensation to 25 households living on Dinh Tien Hoang and Ly Thai To streets. All procedures are carried out publicly and transparently with the coordination between the Ward People's Committee, Project Management Board and the bank.
Mr. Nguyen Van Hai (Ly Thai To Street, Hoan Kiem Ward) said that each household has a different compensation standard depending on the area. "For example, I received 2 billion 520 million VND. In general, I am very satisfied. The State compensates us, we accept, without any response. The parties are very in agreement, and people like me here are also very supportive," said Mr. Hai.
The Square - Park project on the East side of Hoan Kiem Lake not only reconstructs the landscape around the lake, but also contributes to shaping the center of Hanoi into a modern, green urban area, closely linking heritage conservation and development.
This is also an important component in the strategy of renovating and developing the center of Hanoi, in line with the Capital Planning to 2065, approved by the Prime Minister in Decision No. 1668 of 2024. According to the plan, the project will be completed in the first phase in 2026.
