Difficulty in contacting investors
In the previous article, Lao Dong Newspaper reflected that in some real estate projects in Bac Ninh such as the Bich Son new residential area project (Bich Son Central Point), the new urban area of Giap Nguot - Trai Cau (Dream City), there was a situation of attracting people to participate in transactions at a time when they were not eligible for transfer. Brokers said that most of the plots of land in the project had been deposited and reserved.
The reporter has sought to contact the investors of these two projects, HLC Urban and Industrial Construction Development Joint Stock Company and HTV Trading and Investment Joint Stock Company, to clarify related issues.
According to information posted publicly, HLC Urban and Industrial Construction Development Joint Stock Company - the investor of Bich Son Central Point project, was located on the 3rd floor of Udic Complex Building, Hoang Dao Thuy Street (Hanoi City), but when it arrived, the building's receptionist said that on the 3rd floor, there was no company headquarters with such a name.
Similarly, HTV Trading and Investment Joint Stock Company - the investor of the Dream City project.
According to the penalty decision No. 797/QD-XPHC of the People's Committee of Bac Giang province (old) last June, on administrative sanctions in the field of construction activities against HTV Trading and Investment Joint Stock Company at the Dream City project. This company is directed by Mr. Tran Ngoc Tan, located at No. 3, Lane 20, Phuong Canh Street, Xuan Phuong Ward, Hanoi City.
However, when we arrived at the above address during working hours, the house was closed quietly, without any company sign.
People nearby said that they did not see any company operating at the above address but only the house of a local resident.
Many consequences of money laundering
In fact, trading real estate without meeting the prescribed conditions has caused many consequences and risks for buyers.
Right in Bac Ninh, recently, many customers have reported to the authorities about problems at the My Do New Urban Area project (My Do Vista City), in Da Mai ward.
Accordingly, in addition to infrastructure problems, many other people who buy land in the project have also fallen into a situation where they have paid almost all of the land lot value, and there are even cases where the investor has signed a transfer contract but still do not have legal land use rights.
As in the case of Ms. N.T.H (Bac Giang ward), since 2022, she has deposited more than 2.5 billion VND to buy a plot of land in the above project but has not yet received a red book, despite repeated contact and urging the investor.
Ms. H said that she was recently informed that the area she bought was required to build a rough house before being transferred. This was not included in the contract signed with the investor, so the family was even more worried.
According to the investigation, Ms. H's land plot is subject to rough construction according to Decision No. 1420 dated December 21, 2023 of the People's Committee of Bac Giang province (old).
However, before the locality issued Decision 1420, the investor signed a contract to transfer the above land plot to Ms. H., even though at that time this area was not eligible for transfer according to regulations.
Many cases of buying land in the above project are also in the same situation as Ms. H.
In response to the people's reflection, the People's Committee of Bac Ninh province had to organize a working session with departments, branches, investors and people to handle and resolve problems.
Buyers hold knives to their tongs
In the past, according to the reporter's records, there have been many cases of customers suing investors for selling land projects.
Accordingly, although the investor has collected a large amount of money from customers, he has not built the project or handed over the house to the customer.
According to lawyer Quach Thanh Luc - Director of Law Firm (Hanoi Bar Association), many investors "accidentally or intentionally" violate legal regulations on buying, selling and trading real estate without a license from a competent authority, which is negatively affecting the market and pushing risks to customers.
Investors often justify that customers who buy early will get cheap, and businesses will have money to build projects.
However, if the investor has problems with procedures, legality, capital, etc., buyers will suffer many disadvantages.
"When deciding to buy land, customers need to request the investor to provide legal documents including decisions approving projects, land allocation decisions of the State; land use right certificates; licenses on land division and sale issued by the Provincial People's Committee; approved construction drawings; documents, certificates of financial obligations; documents accepting the completion of infrastructure construction obligations of competent state agencies; detailed planning maps 1/500...", lawyer Luc advised.
On August 12, the Department of Construction of Bac Ninh province issued an official dispatch announcing that 80/265 plots of land in the Giap Nguot - Trai Cau New Urban Area project (equivalent to 30.1% of plots in the project) with technical infrastructure are eligible for land use rights transfer.
