According to Article 158 of the Land Law 2024 , the land price adjustment coefficient method is implemented by multiplying the land price in the land price list with the land price adjustment coefficient. The land price adjustment coefficient is determined through comparing the land price in the land price list with the market land price.
The land price adjustment coefficient method is applied to determine specific prices to calculate compensation when the State recovers land in cases of recovery of many adjacent land plots, with the same use purpose and prescribed regulations. land valuation in the land price list without meeting the conditions to apply the comparison method.
Pursuant to Article 7 of Decree 71/2024/ND-CP, land price determination according to the land price adjustment coefficient method is carried out as follows:
1. Survey and collect information about land plots that need to be priced according to land location and area specified in the land price list, including: location, area, land type and term of use, price information land in the land price list.
2. Survey and collect information on land prices for each land location and area according to the following regulations:
- Input information for land valuation according to land valuation methods includes:
+ Land prices are recorded in the national land database and national price database;
+ Land price is stated in the land use rights transfer contract; Winning price at auction of land use rights after completing financial obligations;
+ Land price collected through investigation and survey in cases where there is no land price information according to the 2 cases mentioned above.
- The above input land price information is information formed within 24 months from the time of land valuation specified in Clause 2, Article 91 and Clause 3, Article 155 of the Land Law 2024 and earlier. The use of information collected as prescribed in this Clause prioritizes the use of information closest to the time of land valuation.
In case the land plot selected to collect information has assets attached to the land, the value of assets attached to the land shall be deducted to determine the land price of the land plot according to the provisions of Clauses 4 and 5, Article 4. Decree 71/2024/ND-CP.
3. Determine the market land price of each land location and area:
- Land price statistics collected by each land location and area;
- In case land prices are collected for each land location or area where many land plots have certain similarities in land price, if there are cases where the land price is too high or too low compared to the general level, the price information will be removed. this land before determining the market land price;
- The market land price of each land location and area is determined by taking the arithmetic average of the land prices at that land location and area.
4. Determine the land price adjustment coefficient
The land price adjustment coefficient is determined according to each type of land, land location, and area by dividing the market land price by the land price in the land price list at that land location and area.
5. The land price of the land plot that needs to be evaluated at each land location and area is determined as follows:
