The Department of Agriculture and Environment of Ho Chi Minh City has just submitted to the Ho Chi Minh City People's Committee the project "Effective management and use of land resources to create development investment resources in Ho Chi Minh City".
According to the project, Ho Chi Minh City is reviewing 22 land plots directly managed by the State, located along 3 metro lines with a total area of nearly 291 hectares. These are all areas around metro stations, with great potential for development according to the TOD model (urban development associated with public transport).
Of which, Metro Line 1 (Ben Thanh - Suoi Tien) has 19 land plots located near 9 stations in Thu Duc City, with an area of about 62.8 hectares.
Metro Line 2 (Ben Thanh - Tham Luong) recorded 2 land plots in Tan Phu and Tan Binh districts with an area of about 28 hectares.
In particular, the extended Metro Line 1 (Ben Thanh - An Ha) will reclaim about 200 hectares of land in Pham Van Hai commune (Binh Chanh district), currently managed by Ho Chi Minh City Tree Construction Company Limited.
In addition, Ho Chi Minh City also identified more than 357 hectares of land along three other metro lines including 3a, 4 and 5, currently used by organizations, households and individuals. These lands are also located near stations, have great potential for development and are included in the auction plan.
The total expected revenue from the auction of all land plots along these 5 metro lines is about 152,200 billion VND.
Of which, the land group managed by the State (around Metro Lines 1, 2 and Metro Line 1 extension) brings about 76,100 billion VND.
Metro Line 1 is expected to earn VND24,600 billion, Metro Line 2 is about VND11,500 billion and the extended Metro Line 1 is estimated to reach VND40,000 billion.
The remaining amount, about VND 76,100 billion, comes from land managed by people around Metro Line 3a (314 ha, expected to collect VND 62,800 billion), Metro Line 4 (14.22 ha, collected VND 5,688 billion) and Metro Line 5 (29 ha, collected VND 8,100 billion).
The total estimated cost for compensation, support and resettlement in these lands is about VND 32,200 billion. Thus, after deducting costs, Ho Chi Minh City can still collect about VND120,000 billion from this land resource.
Notably, according to the State Budget Law (amended) recently passed by the National Assembly, Ho Chi Minh City will retain 80% of its revenue from land use fees to invest in infrastructure development.
This means that Ho Chi Minh City can use most of the proceeds to improve traffic, develop urban areas and invest in key projects.
