What is the method for determining land prices using the land price adjustment coefficient method in Vietnam from August 1, 2024, according to Decree 71/2024/ND-CP?
What is the method for determining land prices using the land price adjustment coefficient method in Vietnam from August 1, 2024, according to Decree 71/2024/ND-CP?
According to Article 7 of Decree 71/2024/ND-CP, the method for determining land prices using the land price adjustment coefficient method in Vietnam is as follows:
Step 1: Survey and gather information about the parcels to be priced according to the land position, area specified in the land price list, including: location, area, type of land, usage period, and land price information in the land price list.
Step 2: Survey and gather information on land prices as stipulated at points a, b, c, clause 3 and clause 4, Article 158 of the Land Law 2024, for each land position and area.
If the parcel chosen to collect information has assets attached to the land, the value of the assets attached to the land must be deducted to determine the land price of the parcel as stipulated in clauses 4 and 5, Article 4 of Decree 71/2024/ND-CP.
Step 3: Determine the market land price for each land position and area:
- Collect data on land prices by each land position and area.
- If the collected land prices for each position and area show that parcels have certain similarities in land prices, any price information that is excessively high or low compared to the general level should be excluded before determining the market land price.
- The market land price of each position and area is determined by taking the arithmetic average of the land prices at that land position and area.
Step 4: Determine the land price adjustment coefficient method.
The land price adjustment coefficient method is determined for each type of land, position, and area by dividing the market land price by the land price in the land price list at that position and area.
Step 5: The land price of the parcel to be priced at each land position and area is determined as follows:
| Land Price of Parcel to be Priced | = | Land Price in the Land Price List of the Parcel to be Priced | x | land price adjustment coefficient method |
Factors affecting land prices of non-agricultural land in Vietnam according to Decree 71/2024/ND-CP
What is the method for determining land prices using the land price adjustment coefficient method in Vietnam from August 1, 2024, according to Decree 71/2024/ND-CP?
At clause 1, Article 8 of Decree 71/2024/ND-CP, 08 factors affecting land prices for non-agricultural land include:
(1) Position and location of the land parcel or land zone;
(2) Traffic conditions: road width, road surface structure, adjacency to one or multiple roads;
(3) Water supply and drainage conditions, electricity supply;
(4) Area, size, and shape of the land parcel or land zone;
(5) Factors related to construction planning including: land use coefficient, construction density, building line, building height limits, and the number of basement floors allowed under the detailed construction plan approved by the competent state agency (if any);
(6) Environmental condition and security status;
(7) Land usage period;
(8) Other factors affecting land prices in accordance with actual conditions, cultural traditions, and customs of the locality.
Factors affecting land prices of agricultural land in Vietnam according to Decree 71/2024/ND-CP
At clause 2, Article 8 of Decree 71/2024/ND-CP, the factors affecting land prices of agricultural land in Vietnam include:
Factors Affecting Land Prices
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2. Factors affecting land prices for agricultural land include:
a) Crop and livestock productivity;
b) Position and characteristics of the land parcel or land zone: shortest distance to the place of production, consumption of products;
c) Traffic conditions for production and consumption of products: road width, road level, road surface structure; terrain conditions;
d) Land usage period, except for agricultural land allocated by the State to households, individuals within the agricultural land allocation limit; agricultural land within the transferable limit is not based on the land usage period;
đ) Other factors affecting land prices in accordance with actual conditions, cultural traditions, and customs of the locality.
3. The Department of Natural Resources and Environment shall preside and cooperate with related departments and branches to advise and submit to the Provincial People's Committee specific regulations on factors affecting land prices, maximum difference levels of each factor affecting land prices to determine a certain similarity, and adjustment methods for each difference level of each factor affecting land prices.
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The factors affecting agricultural land prices in Vietnam from August 1, 2024, include:
(1) Crop and livestock productivity;
(2) Position and characteristics of the land parcel or land zone: shortest distance to the place of production, consumption of products;
(3) Traffic conditions for production and consumption of products: road width, road level, road surface structure; terrain conditions;
(4) Land usage period, except for agricultural land allocated by the State to households, individuals within the agricultural land allocation limit; agricultural land within the transferable limit is not based on the land usage period;
(5) Other factors affecting land prices in accordance with actual conditions, cultural traditions, and customs of the locality.
Decree 71/2024/ND-CP takes effect in Vietnam from August 1, 2024.
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