According to Article 28 of Decree 98/2024/ND-CP, compensation and resettlement for houses invested in and built before 1994, including apartment buildings, is carried out as follows:
For apartments on the 1st floor
- The owner is compensated with coefficient k from 1 - 2 times the usable area of the demolished apartment recorded in the documents proving land use rights, ownership of assets attached to the land through the periods or meeting the conditions to be granted this certificate according to the provisions of land law and housing law.
Based on the coefficient k specified in this point, the Provincial People's Committee determines the coefficient k applicable to each location and area with apartment buildings that need to be renovated or rebuilt, as a basis for the owner and project investor to agree on the area to be compensated according to coefficient k to include in the compensation and resettlement plan.
- In case the owner has a part of the apartment area for business and the project has arranged a part of the area for service and commercial business according to the approved planning, in addition to the compensation as above, if the owner has a need, he/she can buy or rent the part of the floor area for service and commercial business according to the approved design for business.
+ The selling price of this area is calculated based on the construction investment rate allocated per 1m2 of service and commercial business floor according to the provisions of construction law plus the standard profit equal to 10% of the total investment cost of the service and commercial business area at the time of project approval whose basic design has been appraised by the competent authority.
+ The rental price of this commercial and service business area is agreed upon by the parties.
+ The purchase or lease of this commercial and service business area must be stated in the compensation and resettlement plan.
For apartments from 2nd floor and above
- The owner is compensated with coefficient k from 01 - 1.5 times the usable area of the demolished apartment recorded in the documents proving land use rights, ownership of assets attached to the land through the periods or meeting the conditions to be granted this certificate according to the provisions of land law and housing law.
- Based on coefficient k specified in this point, the Provincial People's Committee determines coefficient k applicable to each location and area with apartment buildings that must be renovated and rebuilt, as a basis for owners and project investors to agree on the area to be compensated according to coefficient k to include in the compensation and resettlement plan.
Note:
- In case the usable area is outside the area stated in the documents proving house ownership and land use rights but meets the conditions for granting a land use right certificate according to the provisions of the land law, this area will still be compensated according to the coefficient k prescribed for each case mentioned above.
- Other areas not covered by this case will not be compensated according to the coefficient k of the apartment's usable area, but the investor may support the cost of construction investment on this area.
- The area of the resettlement apartment after calculating compensation according to coefficient k is clearly stated in the compensation and resettlement plan.
