Regulation on land price adjustment coefficient for Ha Tinh Province of Vietnam in 2024

Regulation on land price adjustment coefficient for Ha Tinh Province of Vietnam in 2024 (Internet image)

Regulation on land price adjustment coefficient for Ha Tinh Province of Vietnam in 2024

According to Article 3 of Decision 12/2024/QD-UBND, the cases applying the land price adjustment coefficient in Vietnam are as follows:

• The cases specified in Clause 4, Article 5 of Decree 44/2014/NĐ-CP dated 15/5/2014 of the Government regulating land prices, amended and supplemented by Clause 3, Article 1 of Decree 12/2024/NĐ-CP and Decree 10/2023/NĐ-CP dated 03/4/2023.

  • The cases specified at Point a, Clause 4, Article 114, and Clause 3, Article 189 of Land Law;

  • Calculating annual land rental when the State leases the land without the form of land use rights auction;

  • Determining the starting price for auctioning land use rights when the State allocates land or leases land for plots with technical infrastructure already invested according to detailed construction planning;

  • Determining the land price of plots that need to be valued, particularly if the total value is calculated based on the land price in the land price table, and the land use fee or land rental fee submitted is below 30 billion VND for centrally governed cities, below 10 billion VND for mountainous provinces, and below 20 billion VND for other provinces in the following cases:

    ++ The cases specified at Points b and d, Clause 4, Article 114, Clause 2, Article 172 of Land Law;

    ++ Calculating a one-time land rental payment for the whole lease period when the State leases the land without the form of land use rights auction.

• The cases specified at Point b, Clause 1, Point b, Clause 3, Point a, Clause 4, Article 4, Clause 2, Article 10 of Decree 35/2017/NĐ-CP dated 03/4/2017 of the Government regulating land use fee, land rental, and water surface rental in economic zones and high-tech zones.

• The case specified at Point b, Clause 4, Article 4 of Decree 35/2017/NĐ-CP dated 03/4/2017 of the Government, specifically: "In case the area for land rental calculation of the auctioned land plot or area (calculated according to the land price in the Land Price Table) is below 30 billion VND, the starting price for auctioning land use rights is the specific land price determined by the Economic Zone Management Board using the land price adjustment coefficient and approved after obtaining consensus from the Department of Finance. The Department of Finance gives its opinion on the starting price within 05 days from the date of receiving the written request from the Economic Zone Management Board. The land price to determine the one-time land rental payment for the whole lease period is the auction winning land price."

• Other cases requiring the application of the land price adjustment coefficient as stipulated by law.

* The land price adjustment coefficient for all land types applied across the province is 1 (K = 1).

Regarding the Implementation

• During the implementation process, if there are any difficulties or significant changes in the prevalent land market prices requiring adjustment of the land price adjustment coefficient (K), the departments, branches, and People's Committees of districts, towns, and cities should promptly report to the Department of Finance for compilation and coordination with relevant departments to propose adjustments for the People's Committee's consideration and approval.

• If necessary, when the prevalent land transfer price in the local market increases or decreases by 20% or more compared to the published land price adjustment coefficient for 90 days or longer, authorize the People's Committees of districts, towns, and cities to adjust the land price adjustment coefficient to suit the actual land price situation in the locality.

(Article 6 of Decision 12/2024/QD-UBND)

Decision 12/2024/QD-UBND is effective in Vietnam from July 8, 2024.

Le Nguyen Anh Hao

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