The conditions for the land plot to be put up for auction in Hanoi, Vietnam are specified in Decision 27/2020/QĐ-UBND (as amended by Decision 24/2022/QĐ-UBND).
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Conditions on land plots to be auctioned in Hanoi, Vietnam (Illustration)
According to this Decision, the land plot offered for auction of land use rights must meet the conditions specified in Clause 1, Article 119 of the Land Law, Clause 1, Article 8 of the Property Auction Law, Clause 2, Article 29 of the Investment Law 2020, specifically:
- There is an annual land use plan of the district/town approved by the People's Committee of Hanoi City, Vietnam.
- Has completed the clearance of land, land with assets attached to land in which the property is owned by the state.
- The competent state agency has approved the plan for auction of land use rights, the starting price for auction of land use rights in Vietnam.
- The investment policy has been approved in Vietnam (in case of auction of land use rights for implementation of investment projects under the planning subject to approval of investment policy).
Chau Thanh
