Hanoi to auction hundreds of estate projects
Hanoi is expected to earn more than VND23.67 trillion from the auction of land use rights of 446 projects with a total area of more than 177 hectares in 2021.
According to the plan on auction of land use rights in 2021-2023 issued recently by the Hanoi authorities, over 177 hectares of land of 446 projects will be put up for auction this year to earn more than VND23.7 trillion for the state budget.
Of the 446 projects, there are 214 projects with an area of over 5,000 sq.m, totaling 140.43 hectares worth over VND17.5 trillion. The total cost of site clearance and reimbursed technical infrastructure construction is more than VND4 trillion.
The projects with an area of less than 5,000 square meters is 232, totaling 36.86 hectares of land, worth over VND6.1 trillion. Estimated cost of site clearance and reimbursed technical infrastructure construction is VND873 billion.
According to the plan, 507 projects with a total area of 422 hectares of land will be auctioned in 2022, worth over VND38.1 trillion. The corresponding figures for 2023 will be 531 projects, 485 hectares of land and more than VND42.2 trillion.
The Ministry of Construction (MoC) and the Ministry of Natural Resources and Environment (MONRE) have requested provinces and cities review State management on land prices amid 'land fever' in some localities.