The National Assembly has just issued Resolution 170/2024 on specific mechanisms, effective from April 1, to remove obstacles for projects and land in the conclusions of inspections, examinations and judgments in Ho Chi Minh City, Da Nang and Khanh Hoa.
In Ho Chi Minh City alone, the Resolution focuses on solving difficulties for 4 major projects in Thu Duc City and District 4, including: 30.2-hectare land in Binh Khanh Ward (The Water Bay); 30.1-hectare land in Nam Rach Chiec (Lakeview City), land 39-39B Ben Van Don (The Tresor), New City project.
The New City project, which was originally a resettlement area of 1,330 apartments, has been converted to commercial business. However, for many years, the land use fee at this apartment building has not been appraised, leading to people not being able to receive pink books.
Novaland's two major projects include: a 30.2-hectare land plot in Binh Khanh ward (commercial name is The Water Bay) and a 30.1-hectare land plot in Nam Rach Chiec (commercial name is Lakeview City).
The Lakeview City project is located right on the frontage of the parallel road, An Phu ward, Thu Duc city, with a scale of 960 villas and townhouses. The land for project implementation was originally exchanged with the 30.2-hectare project (The Water Bay) in Binh Khanh ward. This project has problems determining the time to calculate land use fees.
The new Resolution of the Government has determined the time for land valuation for the area that has not yet paid land use fees at the Lakeview City project as the time when the competent authority issues a decision to allocate land, i.e. April 18, 2017. With the exchanged area corresponding to the amount of money invested by the enterprise in the 30.2-hectare land plot in Binh Khanh ward, the time to determine the land price is when the recovery and compensation is completed, i.e. November 20, 2008.
With this decision, from January 1, the total land rent and land use fees payable for the project will be re-determined. This is also the basis for businesses to carry out procedures for residents to be granted pink books.
The 30.2-hectare land plot (The Water Bay) in Binh Khanh ward, originated from the 160-hectare resettlement housing planning in the new urban area of Thu Thiem. This project was introduced to the market by Novaland in 2018, with a scale of 12 blocks, providing about 5,000 apartments, 3,000 officetel and 250 shophouses. Up to now, legal issues related to the time to determine land prices and land use fees have not been agreed upon, causing the project to stall for many years.
The 39-39B Ben Van Don land plot has the commercial name The Tresor, invested by Nova Phuc Nguyen Real Estate Investment and Development Company, built on a land area of over 6,200 m2, including 2 towers with 33 and 17 floors respectively with many products such as commercial, office, and apartment.
From April 1, investors will continue to use land to implement projects after handling administrative procedures and overcoming the consequences of economic violations and recovering material benefits according to the verdict that has come into legal effect.
