Below is the content specified in Vietnam's Decree 69/2021/ND-CP on renovation and reconstruction of apartment buildings. What are the benefits of renovation and rebuilding?
Article table of contents
08 benefits of people living in apartments subject to renovation and reconstruction in Vietnam (illustration)
(1) To participate in the selection of real estate businesses to renovate and rebuild apartment buildings in Vietnam.
(2) To be resettled, provided with temporary housing, and to choose the prescribed form of compensation; request the investor to pay the compensation difference (if any).
(3) To be granted a certificate by a competent authority in accordance with the housing and land laws for houses and works that have been compensated and resettled.
(4) To participate in supervising the implementation of the project in accordance with the law in Vietnam.
(5) To be able to purchase a temporary house if it is for sale according to regulations and the owner does not need to buy or rent-purchase a resettlement house.
(6) To be able to transfer the contract of sale and purchase of resettlement houses or temporary houses (if they are permitted to buy this house); the order and procedures for transferring sale and purchase contracts are the same as for transferring commercial housing purchase and sale contracts in accordance with the housing and real estate business laws; the transferee of the house sale and purchase contract for resettlement is finally granted a certificate.
(7) To be compensated for damage in the event of damage occurring according to the contents of the signed contract and according to the provisions of the law in Vietnam.
(8) To exercise any other legal rights.
Note: Except for home owners, other state-owned structures have the rights 1, 2, 4, 7, and 8 mentioned above.
This decree takes effect from September 1, 2021.
