On October 27, agencies and localities in Ho Chi Minh City are continuing to speed up the progress of compensation and site clearance to implement the project to upgrade and expand Ly Tu Trong Street from Binh Chuan intersection to Tan Phuoc Khanh Martyrs' Day intersection.
The project has a site clearance route length of about 2.5 km, the recovered land area is 3.6 ha, affecting 282 cases.
Up to now, the units have completed the measurement, appraisal of the drawings and issued a notice of land recovery. 274 cases were counted (reaching 97%), the remaining 8 cases were subject to mandatory inventory. The units have approved compensation plans for 266 cases with an amount of VND 744.9 billion (reaching 94%).
623.5 billion VND was spent on 197 cases, (reaching 84% of the total approved amount). Regarding site handover, up to now, there have been 168 cases of site handover reaching 59%.
Localities are mobilizing the remaining 69 cases to receive compensation of VND 121.3 billion to reclaim the site.
Notably, the project is divided into 2 sections, the existing upgraded and expanded section is nearly 2.1 km long and the newly opened section is more than 400 m long. In the newly opened section, households needing to clear the central market area are bustling with business, creating the main source of income for families who have lived here for many generations. Households here have not agreed with the compensation price and have proposed to consider and resolve the land compensation unit price to suit the reality. Units are reviewing to consider and decide on other support levels to suit the actual situation and assigned authority.
It is known that the project has a total investment of over 1,000 billion VND. The project started in November 2024, with a construction period of 540 days, expected to be completed in April 2026.
