Just "put money in" and win big?
Recently, the TNR Stars Dong Van Project (Duy Tien, Ha Nam ) has been involved in a series of violations, especially, according to the conclusion of the Government Inspectorate: "The investor transferred land use rights in the form of dividing plots and selling land when some infrastructure construction investment contents have not been completed according to the approved 1/500 detailed planning, not in accordance with Government regulations".
"Owing" 1,600 red books after receiving payment of 95% of the land value, currently, the TNR Stars Dong Van project is still being advertised for sale in many forms.
In mid-August, we were present at the TNR Stars Dong Van project (Duy Tien, Ha Nam). Although it was quite hot at noon, there were still many groups of people coming to see and buy land .
Leading a large group of about 5-7 people, Kien - who introduced himself as a long-time investor and broker in this project - enthusiastically led "potential" customers to see the plots of land he owns at TNR Stars Dong Van.
According to Kien's advertisement, right from the beginning of the project, this person bought many plots of land in different locations of the project. Over time, the land price has increased significantly compared to the beginning, helping Kien "win big".
"I have invested here for a long time. I came in from the beginning. In this area alone, I must have several lots from the inner lot to the corner lot on the other side. Depending on the location, the corner lot is 110 million VND/m2, these 2 lots are currently selling for 30 million VND/m2.
If you invest here, you will never be afraid of losing because the legal process is being gradually improved due to the direction of the Government. This land can now be bought and sold freely. In Ha Nam province, the legal process of this project is the most standard, you can rest assured that if you put in your money, you will win big," Kien advertised.
Expressing doubts about the project's legality because it does not have a certificate, Kien said that land transactions here are very easy, even with good support from the investor.
"Right now the land doesn't have a certificate, the sale will be done by a sales contract with the investor. I went to the company to make a transfer contract with TNR.
The investor also supported me a lot in the transfer, I only had to pay a fee. The first transfer fee was 2 million VND, the second was 5 million VND, and from the third time onwards it was 10 million VND," Kien informed.
Taking the reporter to his house, which is also the place where land brokerage meetings at TNR Stars Dong Van often take place, Kien showed us a series of documents related to the land lots he owns.
Corresponding to each plot of land, there will be related documents such as land use rights transfer contracts, loan contracts at Vietnam Maritime Commercial Joint Stock Bank... of the plots of land that Kien and his family members have their names on in the project.
In addition to Kien, next to the TNR Stars Dong Van area, land brokerage and trading activities in the project are also bustling with the participation of many brokers and real estate brokerage companies. The land business of this project is also openly advertised on many real estate brokerage websites.
A series of risks when buying land at TNR Stars Dong Van project
After many days of following investors and brokers looking to buy land at the TNR Stars Dong Van project, we met Mr. Quang (Thanh Liem, Ha Nam) who was looking to buy land. Mr. Quang said that he had spent many months researching and had not yet paid for this project because he still had many doubts.
"Buying here is also risky because I only have a capital contribution contract with the investor, no red book.
According to his research, this land was apparently intended to build housing for workers, but then they divided it into plots and sold it, which was against the original plan. This investor sold it to another investor, so they have been suing each other for 10 years now," said Mr. Quang.
Speaking with Lao Dong, Dr. Lawyer Dang Van Cuong - Head of Chinh Phap Law Office, Hanoi Bar Association - said that transactions for projects that do not meet legal requirements have many potential risks and a high risk of disputes.
Accordingly, for projects where investors violate the law, customers may face the risk of not being granted a certificate, not being able to use and not being able to exercise the rights of land users, leading to investment money being stagnant and causing great damage.
Lawyer Dang Van Cuong said that investors need to carefully evaluate the legality of the project before deciding to invest to avoid losing both money and property.
Regarding the two temporary housing projects of Ms. Nguyen Thi An and Mr. Duong Van Dung's family right inside the project land, speaking with Lao Dong, Mr. Nguyen Anh Chuc - Vice Chairman of the People's Committee of Ha Nam province - affirmed that these are two illegal construction projects and have not been licensed.
According to the leaders of Ha Nam province, although customers of the TNR Stars Dong Van project have spent money to buy project land, the construction of temporary houses on land that is not yet permitted for construction is a violation and must be held responsible before the law.
"Ha Nam province's stance on the TNR Stars Dong Van project is the same as other projects invested in the province. Because the project does not meet legal conditions and has not been accepted, all buying, selling and transferring activities are not allowed and violate the provisions of the current Land Law," said Mr. Chuc.
According to the investigation, although the project was involved in violations and was not allowed to transfer land use rights, the project's land lots were arbitrarily divided and sold by the investor as collateral for a loan at the Vietnam Maritime Commercial Joint Stock Bank (Maritime Bank).
There is a connection between Maritime Bank and the investor, that is Mr. Tran Anh Tuan, currently Chairman of the Board of Directors of Maritime Bank, used to be the Director and legal representative of Ha Nam Development Joint Stock Company - the investor of the "Stars Dong Van Project". Meanwhile, TNR Holdings Company is introduced as the developer of the "TNR Dong Van Project" is a member of TNG Holdings Vietnam Group (now Rox Group Joint Stock Company) chaired by Ms. Nguyen Thi Nguyet Huong (wife of Mr. Tran Anh Tuan).
Since the Ha Nam Provincial People's Committee signed the decision to hand over land to Ha Nam Development Joint Stock Company to build a residential area serving Dong Van II Industrial Park, it has been decades but in reality the project has not been completed and many complicated problems have occurred. Many customers who bought land in the project have not yet been able to build houses on their land and have not been granted a Certificate of Land Use Rights for the project's land plots. Up to now, the project's infrastructure has been basically completed, but the land plots sold to customers with values ranging from a few hundred thousand to about 2 billion VND are still used to grow weeds.
