Land price list updated

PPC promulgated a price list for land in Binh Duong province. Compared with the land price list of 2014, the new one has many new features. Namely, regarding effect time, land price list is devised every 5 years and applied during 5 years (2015-2019). The land price list is implemented during 5 years and will be adjusted only when the Cabinet makes adjustments to prices range. Adjusted land price will increase from 20% or higher than maximum land price, or decrease from 20% or higher than minimum land price in the period of 180 days or more.

Regulations also specify, during the application, adjustments to the land price list are made as competent authorities adjust land use planning, change land use purposes, add up unnamed streets. But common market prices of land are not allowed to increase from 20% or higher than maximum land price, or decrease from 20% or higher than minimum land price in the land price list. 

New land price range issued by the Cabinet is higher than price range according to Decree No. 123/2007/ND-CP. Namely, to agricultural land, minimum price increases at least 200%, at most 500%; maximum price increases at least 85%, at most 217%. To urban land, minimum price increases at least 317%, at most 700%; maximum price increases at least 35%, at most 167%. To rural land, minimum price increases at least 260%, at most 500%; maximum price increases at least 700%, at most 967%. 

Regarding new price range of bordering land, lands at bordering areas having the same purpose, profitability, and income from similar land use are priced at the same level. In case, there are variations in these factors, price of bordering land may be differential but must not exceed 30%. Land prices of some main roads named in the appendix are calculated by absolutely specific cash (VND1,000/m2) in order to create favorable conditions for research and consistency in the land price list application.

Instead of Department of Finance, Department of Natural Resources and Environment is now in charge of specifying land price.  

Reported by Land Economic Office – Translated by Ngoc Huynh