Joint Auction Company No. 5 - National and Joint Auction Company Vietnam Auction have just announced the suspension of the 4th, 5th and 6th auctions in Man Ca, Man Cong, Ma Man Trong areas, Van Quan village, Do Dong commune, Thanh Oai district (Hanoi). The announcement is based on the official dispatch requesting the suspension of auctions for 197 land plots in the above area from the District People's Committee.
According to the plan, 3 sessions with a total of 39 plots of land are expected to be auctioned on December 7, 14 and 21. Of which, the 4th session has 19 plots of land with an area of 74-92m2, the 5th session has 24 plots of land with an area of 88-175m2, and the remaining 20 plots of the 6th session have an area of 96-149m2. These lots all have a starting price of 5.3 million VND/m2.
The announcement states that the auctions will be held after the decision of the competent authority. Customers who have purchased the participation documents and paid the deposit should contact the auction organizer for instructions on the procedure to receive the refund of the deposit.
This move came after Thanh Oai district decided to invite the police to investigate the failed auction of 22 plots of land in Do Dong commune on November 30.
The police will check and grasp the situation, if there are signs of crime, they must strictly handle it according to regulations. The locality organized an auction to sell to people who really needed it, but it was unsuccessful because customers all gave up.
Accordingly, the auction of 22 plots of land on November 30th did not find any winners. The reason was that in the 9th round, customers all stopped bidding, leading to the auction being unsuccessful. Meanwhile, the highest bid in the 8th round reached more than 70 million VND/m2, 13 times higher than the starting price.
According to a representative of the Vietnam Auction Joint Stock Company, this is the first auction organized by this unit without any winning plots. The failed auction has greatly affected the local budget revenue. Currently, the district has no plans to re-auction the 22 plots of land.
