Deputy Prime Minister asked to remove obstacles in land valuation in Ho Chi Minh City
The Government Office has just sent a document to convey the direction of Deputy Prime Minister Le Van Thanh regarding the proposal of the land price adjustment coefficient of Ho Chi Minh City.
Accordingly, the Deputy Prime Minister assigned the Ministry of Natural Resources and Environment to assume the prime responsibility for, and coordinate with the People’s Committee of Ho Chi Minh City and other relevant ministries and branches, to study the shortcomings and shortcomings in the implementation of the above land valuation methods. city area to have solutions to overcome and handle.
Regarding this issue, before that, the People’s Committee of Ho Chi Minh City sent a document to the Prime Minister proposing to solve a number of difficulties and problems when determining, appraising and deciding on land prices to calculate and collect obligations. financial services on land and calculate compensation and support when the State recovers land.
According to the report of the People’s Committee of Ho Chi Minh City, Decree 44/2014 stipulates 5 methods of land price appraisal: direct comparison, deduction, income, surplus (applicable to land plots calculated according to the land price list). valued at VND 30 billion or more) and the coefficient land price adjustment (applies to land plots valued at under VND 30 billion).
When determining, appraising and deciding on land prices, there are a number of difficulties and obstacles such as: Difficulty in organizing the selection of a consulting unit for planning land pricing; difficulties in collecting information on real transaction prices of real estate on the market; there is no quantitative regulation on adjusting the difference between comparable property and appraised property; there are no specific regulations guiding the determination of trends and fluctuations in transfer prices, rental prices, and factors that form revenue and development costs of the project; subjects and conditions for application of the valuation method have not been specified; the investor is passive in determining the efficiency of an investment project because it cannot predict the amount of financial obligations to be paid by the project; the procedure for determining the land rental unit price for the first period according to one of the four methods will increase unnecessary administrative procedures for investors when renting land for project implementation; difficulties in transferring documents and time to determine land price.
The People’s Committee of Ho Chi Minh City said that the application of the land price adjustment coefficient method in determining the land price as a basis for collecting land use fees and renting land has a number of outstanding advantages, ensuring a scientific valuation method. and reflect the value of the land use rights of the assessed land fully and scientifically on the basis of fully assessing the factors affecting the land use rights. land price project, and at the same time agree on a specific land price determination method for cases with a land plot value of less than VND 30 billion and cases of VND 30 billion or more.
From the above difficulties, problems and comments, the People’s Committee of Ho Chi Minh City proposed to the Prime Minister to approve the development and issuance of land price adjustment coefficient in accordance with the actual situation in the area. City, submit it to the City People’s Council for approval, on that basis, the People’s Committee of Ho Chi Minh City issues the coefficient of land price adjustment for calculating land use fees and land rents for all land plots and parcels (not applicable). differentiating the value calculated according to the land price list over 30 billion VND or less than 30 billion VND), instead of having to hire a consultant to determine the specific land price according to the valuation methods.
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