It is expected that on December 28, the Long Bien District Land Fund Development Center will coordinate with National Auction Joint Stock Company No. 5 to organize an auction of land use rights to implement the low-rise housing construction project on land plots H1-NO1 and H1-NO2 in Phuc Loi ward, Long Bien district, Hanoi.
The total area of the land auctioned for land use rights is 10,081m2. Plot H1-NO1 has an area of 5,048m2 with the function of residential land for villas, construction area of 2,019.2m2, construction density of 40% of the total floor area of 8,075.8m2, land use coefficient of 1.6 times, height of 1 to 4 floors.
Land plot H1-NO2 has an area of 5,033 m2, function is residential land for villas, construction area 2,013.2 m2, construction density 40%, total floor area 8,052.8 m2, land use coefficient 1.6 times, height 1 to 4 floors.
The starting price is 98.7 million VND/m2. The common price step applied to all rounds is 500,000 VND/m2.
The auction format is direct multi-round voting and must go through at least 3 mandatory rounds. The auction method is ascending price.
Bidding is conducted in multiple rounds and must go through at least 3 mandatory rounds and one or more subsequent auction rounds until there are no more investors bidding, then the last investor with the highest bid is the winning investor.
Time for selling and receiving auction registration documents from 8:00 a.m. on December 12, 2024 to 5:00 p.m. on December 25, 2024 (office hours).
The auction will start at 8:30 a.m. on December 28, 2024 at the Gia Thuy Ward Cultural House Hall, Long Bien District, Hanoi.
With a starting price of 98.7 million VND/m2, the land auction in Long Bien district is holding the highest starting price compared to recent land auctions in Hanoi. Accordingly, the land auction in Hoang Mai district has a starting price of 86 million VND/m2, the land auction in Hoai Duc district has a starting price of 7.3 million VND/m2, Ung Hoa ranges from 6 million to 7.2 million VND/m2, Thanh Oai district has a starting price of 5.3 million VND/m2; land auction in Me Linh district is from 1.5 million VND/m2 and land auction in My Duc district is from 1.1 million VND/m2.
The Hanoi People's Committee has just sent an official dispatch to departments, branches, districts and towns to direct solutions related to the land auction situation. Accordingly, the People's Committee requested localities to evaluate the effectiveness of land allocation and lease through auctions, especially avoiding organizing auctions in areas with low starting prices, not enough to cover the costs of site clearance and infrastructure investment. These lands can be converted to serve resettlement or public works, contributing to supporting projects in the area.
