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Proposed “pink book” with deadline causes anxiety

Many people live in apartment are very worried when “Certificate of land use rights, ownership of houses and other land-attached assets” aka pink book is only valid for 50 – 70 years instead of having no term. as before, as suggested by Ministry of Construction in the draft revised Housing Law.

That means confirming the right to use and own property on the land for a limited time. The reason given by this Ministry is that according to current regulations, the useful life of the work is determined according to the construction design documents of the work or the actual duration of use.

According to many people, apartments are not only a place to live and work now, but also a special asset to give to relatives and children in the future. Therefore, when it is reported that the Ministry of Construction is proposing apartments with a term of only 50 – 70, many people worry.

“Every time I buy a house, it’s not simple, I live when I live when my children and grandchildren can’t afford to live, so by then it’s lost. I have money I will go out to buy, buy a small piece but build up to live comfortably, my children will stay behind, my grandchildren will live in,” said Mrs. Nguyen Thanh Binh – My Duc Apartment, Binh Thanh District, Ho Chi Minh City.

The proposal of a

The information that the Ministry of Construction proposed that apartments have a term of only 50 – 70 made many people worried. Illustration.

According to experts, if this proposal is approved, it is necessary to clarify how after 50 years, or after 70 years, the interests of apartment buyers will be resolved. Because at present, the Land Law and the Housing Law are in conflict with each other.

Land Law for long-term land use, but Construction Law depends on building grade. That is, the work will be dismantled when the quality is not satisfactory to rebuild a new one.

“For example, if an apartment building has 100 – 200 apartments, then 100 – 200 households own this piece of land, converted to the previous area or converted in some way so that they all have benefits. So we need to solve it. How about long-term ownership,” said Mr. Su Ngoc Khuong – Senior Director of Salvill Vietnam.

Therefore, for apartment buildings and apartments, legislators need to clearly stipulate that after 50 – 70 years, this land that is considered long-term use will be handled, and people have the right to use it. or not. Especially, when selling apartments and land use rights according to the project term of 50 – 70 years, it is necessary to readjust the land use levy when the investor fulfills financial obligations, thereby adjusting the final selling price of the property. suitable products to ensure the interests of buyers.

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