On the evening of August 9, the Ho Chi Minh City Real Estate Association (HoREA) sent a document to the National Assembly Standing Committee regarding the implementation of the 2024 Land Law.

According to HoREA, the draft land price list in Ho Chi Minh City is of great interest to residents, businesses and real estate investors.

So far, only Ho Chi Minh City has announced information about the draft land price list applicable from August 1 to December 31, 2024. The Department of Natural Resources and Environment explained that the reason is that the city must strictly comply with the provisions of Clause 1, Article 257 of the 2024 Land Law, so it must develop a draft land price list because there are no longer regulations on land price adjustment coefficients and resettlement land prices must be updated. Otherwise, it will lead to congestion in determining the financial obligations of households and individuals and compensation for resettlement site clearance.

However, HoREA believes that HoREA's understanding of the content of Clause 1, Article 257 of the 2024 Land Law is that the land price list issued by the provincial People's Committee in accordance with the provisions of the 2013 Land Law and the land price adjustment coefficient as prescribed in Decree 44 and Decree 45, "will continue to be applied until December 31, 2025".

If necessary, the Provincial People's Committee shall decide to adjust the land price list according to the provisions of the 2024 Land Law to suit the actual situation of land prices in the locality, and the content of the land price list adjustment may be to adjust the land price list at one land location or several land locations or all land locations.

HoREA stated that in all cases of "calculating land use fees when the State recognizes the right to use residential land or permits the change of land use purpose from agricultural land, non-agricultural land that is not residential land to residential land for the residential land area exceeding the land allocation limit for households and individuals" according to the provisions of the 2013 Land Law and Decree 44 and Decree 45, both the land price list and the land price adjustment coefficient must be applied at the same time, not just the land price list alone.

HoREA said that currently, the land use fee calculation records when the State recognizes the right to use residential land or allows the change of land use purpose from agricultural land, non-agricultural land that is not residential land to residential land for the residential land area exceeding the land allocation limit for households and individuals in Ho Chi Minh City are all suspended from performing the "land use fee calculation" procedure at the tax authority, awaiting the decision of the competent authority on whether or not to issue an adjusted land price list and the time of application (if any).

According to HoREA, the provisions in Clause 1, Article 257 of the 2024 Land Law may not be clear enough for localities to unify their understanding, make it easy to understand and implement, and only the National Assembly Standing Committee has the authority to interpret the law.

Therefore, the association proposes that the National Assembly Standing Committee consider explaining the law on the content of Clause 1, Article 257 of the 2024 Land Law so that localities can unify the understanding, make it easier to implement, and give people peace of mind, an additional year and a half to prepare finances and carry out procedures to apply for red books and pink books.