Detailed contents of Decree 71/2024 on land prices assigned to the Provincial People's Committee in Vietnam

Duong Chau Thanh

10:30, 30/09/2024

Below is a summary of detailed contents of Decree 71/2024 on land prices assigned to the Provincial People's Committee in Vietnam

Content addressed in Official Dispatch 6520/BTNMT-DD dated September 23, 2024, regarding the guiding document for Land Law 2024 and the Decrees guiding Land Law 2024.

Summary of detailed contents of Decree 71/2024 on land prices assigned to the Provincial People's Committee in Vietnam (Image from the internet)

Summary of detailed contents of Decree 71/2024 on land prices assigned to the Provincial People's Committee in Vietnam

No.	NAME OF THE DETAILED PROVISION ASSIGNMENT	CONTENT OF THE DETAILED PROVISION ASSIGNMENT	AGENCY ASSIGNED TO ISSUE DETAILED PROVISIONS
1.	Point d, Clause 2, Article 6. Procedure and content for determining land prices using the residual method.	d) Based on the actual situation in the locality, the Department of Natural Resources and Environment shall take the lead, in cooperation with relevant departments and agencies, to advise and submit to the Provincial People's Committee specific regulations on sales rates and occupancy rates to be applied no later than January 1, 2025. If necessary, the Provincial People's Committee shall adjust to suit the local actual situation. In case investment policy documents or project solicitation documents for an investment project, or decisions approving, accepting investments, do not specify sales periods or sales start times, the Provincial People's Committee shall regulate accordingly to the local actual situation for groups of projects with the same primary land use purpose or specific projects for application.	Provincial People's Committee
2.	Point d, Clause 3, Article 6. Procedure and content for determining land prices using the residual method.	d) Based on information about similar projects in the pricing area or the nearest adjacent area, the Department of Natural Resources and Environment shall take the lead, in cooperation with relevant provincial departments and authorities, to advise and submit to the Provincial People's Committee specific regulations on percentage rates to determine business costs, loan interest, investor profits taking into account equity capital, business risks for groups of projects with the same primary land use purpose or specific projects for application no later than January 1, 2025. If necessary, the Provincial People's Committee in Vietnam shall adjust to suit the local actual situation.	Provincial People's Committee
2.		In case investment policy documents or project solicitation documents for an investment project, or decisions approving, accepting investments, do not specify construction periods or construction progress, the Provincial People's Committee shall regulate accordingly to the local actual situation for groups of projects with the same primary land use purpose or specific projects for application.	Provincial People's Committee
3.	Clause 3, Article 8. Factors affecting land prices	3. The Department of Natural Resources and Environment of Vietnam shall take the lead, in cooperation with relevant departments and agencies, to advise and submit to the Provincial People's Committee specific regulations on factors affecting land prices, the maximum disparity level of each factor affecting land prices to determine a certain level of similarity, and adjustment methods for each disparity level of each factor affecting land prices.	Provincial People's Committee
4.	Point n, Clause 1, Article 12. Content of building, adjusting, amending, and supplementing the land price table	n) Prices of other types of land according to land classification regulated in Article 9 of the Land Law that are not regulated from point a to point m of this clause according to local management requirements.	Provincial People's Council
5.	Clause 6, Article 17. Procedure for adjusting the land price table in cases specified in Clause 1, Article 257 of the Land Law	The Department of Natural Resources and Environment of Vietnam shall carry out feedback, explanations, revisions, and completion of the draft land price table, and submit it to the Provincial People's Committee for decision making on the land price table adjustment according to the document components specified in Clause 3, Article 15 of this Decree.	Provincial People's Committee
6.	Clause 2, Article 20. Determining land location in constructing the land price table	2. Based on the regulations in Clause 1 of this Article and the actual local situation, the Provincial People's Council shall stipulate specific criteria for determining the location for each type of land, the number of land locations in the land price table. For land parcels or land zones with favorable or unfavorable factors in land use, the Provincial People's Council shall increase or decrease the price levels as follows:	Provincial People's Council

More details can be found in Official Dispatch 6520/BTNMT-DD dated September 23, 2024.

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