Why is the land plot far from Hue city center valued at 45 million VND/m2?

On April 6, many people in the real estate industry in Thua Thien – Hue province reflected to reporters Workers about the “irregularity” in the decision to issue regulations on land prices about to be put up for auction in Huong Tra town. Many people said that they were stunned when they read this decision because there is a plot of land far from the center of Hue city that costs up to 45 million VND/m2.².

The marshy land consists of 3 lots A1, A2, A3 that are about to be put up for auction, of which lot A1 is priced at 45 million VND.

Information posted on the website of the People’s Committee of Huong Tra town on April 1 reads: “Decision on approving specific land prices for auctioning land use rights of land lots in Huong Tra town. “.

This information cites: On March 21, the People’s Committee of Thua Thien – Hue province issued Decision 705 on specific land prices for auctioning the land use rights of 30 residential plots in Huong Tra town., in which 3 plots in Huong Van ward are mixed land.

Old, dilapidated infrastructure

The notice also publishes the specific unit price of the land lots but does not include the land registration fee and other fees and charges as prescribed. In which, the land plot with the symbol A1, land plot 255, map sheet No. 52 in Huong Van ward has a starting price of 45 million VND/m2.². This lot is 297.6 m wide². The land plots A2, A3 next door are only valued at 4 million VND/m .².

Decision 705 signed by Mr. Phan Quy Phuong, Vice Chairman of the People’s Committee of Thua Thien – Hue province and publicly announced on the website of this agency, assigns the People’s Committee of Huong Tra town to base on this price to approve the starting price. points, organize auctions. In the posting decision, the price of land lot A1 is 45 million VND/m .².

Land area A1 has a base price of 45 million VND/m2

In the morning of the same day, we went to the A1 parcel of land to “squish market” to find out why this plot of land is so valuable when it is so far from the center of Hue city? It took a lot of effort to find the location of the above plots because they are located deep in a residential area.

The land lot is far from Highway 1, the center of Huong Tra town with a radius of about 1.5 km, about 3 km from the People’s Committee of Huong Van ward, located deep in a residential area. It was a muddy land, with many banana trees, and a narrow, degraded concrete road.

The price is 45 million VND/m2 in Decision 705

Mr. Nguyen Dang Phuc, who has a house in front of these 3 lots, was surprised: “The starting price is 45 million VND/m2.²? 5 million dong is unlikely to have a buyer, there must be a mistake. This is the land managed by the commune, formerly a deep bomb crater, since 1993 my family has come to live, seeing that no one is doing anything, they have cleared and planted trees until now.

The area has 3 plots of land

Explain why plot A1 is valued up to 45 million VND/m²Mr. Tran Ba ​​Man, Deputy Director of the Department of Finance, permanent member of the Land Valuation Council of Thua Thien – Hue province, said that the actual price of this land plot is only 4.5 million VND/m² but due to a mistake in drafting documents to submit to the Provincial People’s Committee, it was 45 million VND.

“The land price of lot A1 is only 4.5 million dong, but you mistyped it, so it was 45 million dong. We have just sent a document to the provincial People’s Committee to adjust the price of this land lot in the decision” – Mr. Man said.

According to Quang Tam