Pursuant to Clause 2, Article 91 of the 2024 Land Law, land compensation is carried out by allocating land with the same purpose of use as the recovered land type. In case there is no land for compensation, compensation will be made in cash according to the specific land price of the recovered land type decided by the People's Committee at the competent level at the time of approving the compensation, support and resettlement plan.
In case the person whose land is recovered is compensated with land or housing but has a need for compensation in cash, he/she will be compensated in cash according to the wishes registered when making the compensation, support and resettlement plan.
For people whose land is recovered, if there is a need and the locality has conditions for land and housing funds, compensation will be considered with land of a different purpose than the type of recovered land or with housing.
According to the above regulations, the principle of compensation when the State recovers land is implemented by allocating land with the same purpose of use as the type of recovered land.
In case there is no land for compensation, compensation will be made in cash according to the specific land price of the recovered land type decided by the Provincial People's Committee at the time of approval of the compensation plan.
Thus, from August 1, 2024, the time to determine land compensation prices is when there is a decision approving the compensation plan.
