On October 8, according to Lao Dong reporter's investigation, National Joint Stock Auction Company No. 5 has just announced the auction of 27 land plots in Ha Dong district at the following locations: Ha Khau copper area, Dong Danh - Dong Coc area, Dong Bo - Dong Chuc - Cua Cau - Dong Men area (area B, Phu Luong ward), Sau Chua area (symbol X8, Yen Nghia ward), Duoc area (symbol X7, Duong Noi ward).
The auction will be held on October 19, 2024. The auctioned plots range in size from 48-72m2, with starting prices of VND22.8-32.2 million/m2. The deposit for each plot ranges from VND222 million to over VND436 million.
Previously, the auction of these 27 land plots was scheduled to be held on September 7, 2024, but was suspended at the request of the Ha Dong District Construction Investment Project Management Board.
According to the latest plan, the auction will still be conducted in the form of direct voting in multiple rounds and at least through 5-11 mandatory rounds. The common price step applied to land plots and in the auction rounds is 10 million VND/m2.
Similarly, National Joint Stock Auction Company No. 5 has just announced the organization of an auction of land use rights at 39 plots of land in areas LK3, LK4 and LK5, which are part of the project to build technical infrastructure for the land use rights auction in Yen Quan village (Tan Phu commune, Quoc Oai district).
These plots of land have an area of 73-114m2 with a starting price of 4.7 million VND/m2. The auction will be held at 8:30 a.m. on October 25, 2024 at the Quoc Oai District Cultural, Information and Sports Center. The auction will be conducted by direct voting through multiple rounds, with an ascending bid method.
Regarding the issue of land auctions, the Hanoi People's Committee has recently sent a document to departments, branches, districts, towns and cities. The Hanoi People's Committee noted that land auction organizers should consider regulating the price steps and auction forms (mandatory multi-round auctions) to ensure competitiveness and closeness to market prices.
Assessing the current situation in land use rights auctions in recent times, in a report sent to the Office of the Government at the end of September 2024, the Ministry of Construction also pointed out limitations and negative aspects such as in some places there is a phenomenon of "auction brokers" colluding, affecting the rights of participants.
The Ministry of Construction stated that the phenomenon of bidding very high prices when buying some plots of land and then canceling the deposit, creating a virtual price level to manipulate the market, buying and reselling many auctioned plots of land to gain illegal profits is quite common in many places, even organized.
