On October 16, Mr. Phan Van Mai, Chairman of the Ho Chi Minh City People's Committee, Chairman of the City's Land Price Appraisal Council, signed and approved the appraisal report on the draft Decision replacing Decision 02/2020 on land price list in the City.

Accordingly, the City Land Price Appraisal Council agreed with the proposal of the City Department of Natural Resources and Environment, the opinion of the Council's Working Group and the draft decision to amend and supplement Decision 02/2020.

At the same time, the Department of Natural Resources and Environment of the City shall, based on legal regulations, complete all documents and procedures and submit them to the City People's Committee for consideration and decision.

The time to apply the adjusted land price list is from the date of signing and promulgation until December 31, 2025.

The highest land price in Ho Chi Minh City is 687.2 million VND/m2. Photo: Le Toan

According to the report of the Department of Natural Resources and Environment, the highest urban land price in the City is 687.2 million VND/m2 on central streets of the City such as Dong Khoi, Le Loi... (District 1). Compared to the previous draft land price list (810 million VND/m2), the finalized land price has decreased by 122.8 million VND/m2, but also increased 4.2 times compared to the current price list.

In Hoc Mon, Nha Be, Binh Chanh, Can Gio and Cu Chi districts, land prices are expected to increase, but compared to the previous draft of the adjusted land price list, they have decreased sharply. For example, land prices on Highway 22 Parallel Road (section Nguyen Anh Thu to Ly Thuong Kiet) - which increased 51 times in the old draft, have now been adjusted down to 23 times.

For land prices for non-agricultural production and business that are not commercial or service land, including: land in industrial parks, export processing zones, Quang Trung software park, industrial clusters, minerals; land used for national defense and security purposes; land used for public purposes... there will be prices for each district.

Specifically, in districts 1, 3, 4, 5, 6, 10, 11, Binh Thanh, Phu Nhuan, the price is calculated at 50% compared to the price of land for production and non-agricultural business that is not commercial or service land. In districts 7, 8, 12, Tan Binh, Tan Phu, Binh Tan, Go Vap, Thu Duc City, the price is calculated at 60% compared to the price of land for production and non-agricultural business that is not commercial or service land.

In Binh Chanh district, Hoc Mon district, Cu Chi district, Nha Be district, Can Gio district, the price is calculated at 75% compared to the price of land for non-agricultural production and business that is not commercial or service land.

According to the assessment of the City Land Price Appraisal Council, residential land prices in previous submissions, the Department of Natural Resources and Environment has collected land price information from the price database and market transfer land prices and based on the actual socio-economic situation of the city to propose a land price list for residential land suitable for each district and Thu Duc City. At the same time, it has reviewed and balanced prices for locations bordering districts, Thu Duc City and road sections and routes in the same area.

As for agricultural land, the drafting agency used data on agricultural land prices for compensation calculation in the city to propose agricultural land prices that do not fully reflect the price of purely agricultural land for cultivation and production activities.

Now in the new Submission, the Department of Natural Resources and Environment has built a land price list for agricultural land based on the agricultural land price stipulated in Decision 02/2020 multiplied by the land price adjustment coefficient (coefficient K) to ensure stability for agricultural production activities is appropriate.

This also does not affect the case of land acquisition by the State because then the person whose land is acquired will have the specific land price determined according to the market price to calculate compensation. At the same time, the Department of Natural Resources and Environment has built a land price list for agricultural land in the High-Tech Agricultural Zone in the direction of maintaining the current collection rate as appropriate.

For commercial and service land, the Department of Natural Resources and Environment has developed a land price list for commercial and service land based on an assessment of the socio-economic development characteristics of each area to propose appropriate prices for each area and location.

For non-agricultural production and business land that is not commercial or service land, similar to commercial or service land, the Department of Natural Resources and Environment has assessed the characteristics of the socio-economic development situation of each area to propose appropriate land prices for non-agricultural production and business land.

On that basis, the Department of Natural Resources and Environment has proposed land prices for non-agricultural production and business land with specific characteristics (land in industrial parks, export processing zones, Quang Trung software park, industrial clusters, minerals); land used for national defense and security purposes; land used for public purposes is appropriate.