After nearly 20 hours and 12 rounds, the auction of 54 plots of land in Son Trung village, Yen Son commune, Quoc Oai district ended at 1:30 this morning.
Previously, on October 13, Quoc Oai district coordinated with National Auction Joint Stock Company No. 5 to organize an auction of land use rights for 54 residential plots in Son Trung village, Yen Son commune.
The plots of land put up for auction range in area from 92.5 to 113.9 square meters. The total area of the 54 plots of land put up for auction is 5,160.6 square meters. The starting price of the first round is 12.48 million VND/square meter.
This is the price determined according to the regulations and guidelines for implementing the new Land Law. Accordingly, the auction price is determined according to the land price list in Yen Son commune (over 5.3 million/m2) multiplied by the land price adjustment coefficient issued by the city in the area of 2.35. However, the price is quite low compared to the current market transaction price of about 35-45 million VND/m2.
The People's Committee of Quoc Oai district and the auction organizer agreed to conduct the auction using the direct voting method with multiple rounds and a minimum of 5 mandatory rounds. The common price for the land plots is 2 million VND/m2.
This auction attracted 296 customers with more than 1,000 applications. The auction ended at 1:30 this morning (October 14), the highest winning price was 54 million VND/m2, about 30% higher than the market price. This is considered a reasonable price for a beautiful plot of land. The plot with the lowest price was 44,480,000 VND/m2, approaching the market price. This result also shows that there is no longer a situation of "paying high prices, creating virtual fever" through land auctions.
According to information from the People's Committee of Quoc Oai district, the amount of money Quoc Oai district collected from the land use rights auction this time was 242.6 billion VND, a difference of 179.6 billion VND from the starting price.
The auction took place in a public, objective, transparent, serious manner, following the procedures and regulations of the law, ensuring the rights of the participating parties. From now until the end of 2024, the district will organize 3 more land auctions in the communes of Tan Phu and Sai Son, with a total auction area of about 9,000m2; the total expected revenue from land auctions is about 600 billion VND.
