28 district land lots in Hanoi to be auctioned, starting from 10 million VND/m2

Như Hạ |

It is expected that on December 28, Son Tay district (Hanoi) will auction 28 land plots.

On December 28, Lac Viet Joint Stock Auction Company coordinated with the Son Tay Town Construction Investment Project Management Board to organize an auction of residential land use rights for 27 plots of land belonging to the Technical Infrastructure Construction Project of the Van Goi - Dong Quan land auction land use rights area and 1 plot of land belonging to the Tien Huan interstitial land area, Vien Son ward, Son Tay town, Hanoi.

The land plots have an area of ​​84.2 - 167m2. In addition, 27 land plots in the Van Goi - Dong Quan area have a starting price of 15.18 million VND/m2; 1 land plot in the Tien Huan interstitial land area, Vien Son ward, Son Tay town has a starting price of 10.35 million VND/m2.

Deposits for land plots range from 255 - 507 million VND/plot.

The auction is conducted in ascending price method. The auction method for 27 plots of land in Van Goi - Dong Quan area is auction for each plot of land and auction by direct voting in multiple rounds at the auction and at least 5 mandatory auction rounds (except in the case that in any round before auction round 5, there is a highest valid bid of the round that is at least equal to the starting price approved by the People's Committee of Son Tay town plus 5 price steps, then the winning bid price can be considered, if no one participates in the next auction round).

For a plot of land in Tien Huan area, it will be auctioned by direct voting in multiple rounds at the auction and at least 3 mandatory auction rounds (except in the case that in any round before auction round 3, the highest valid bid of the round is at least equal to the starting price approved by the People's Committee of Son Tay town plus 3 price steps, then the winning bid price can be considered, if no one participates in the next auction round).

The auction will take place at 8:30 a.m. on December 28, 2024 (Saturday) at the hall of the People's Committee of Son Tay town. Customers participating in the auction must be present before 8:00 a.m. on December 28, 2024 to complete the procedures to enter the auction room.

Như Hạ
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Loopholes in land auction methods have led to market manipulation at some recent auctions in Hanoi.