Procedures for valuation of social housing invested and built not by using public investment in Vietnam

Procedures for valuation of social housing invested and built not by using public investment (Image from Internet)

Procedures for valuation of social housing invested and built not by using public investment in Vietnam

To be specific: according to Article 35 of Decree 100/2024/ND-CP stipulates the procedures for valuation of social housing invested and built not by using public investment in Vietnam as follows:

(1) The investor directly submits 01 set of documents (certified copy) to the specialized agency of the Provincial People's Committee where the project is located or submits the documents online through the provincial public service portal where the project is located to request the organization for appraisal of the sale price, rent-purchase price of social housing they have built as stipulated in (2).

(2) The investor's application for price appraisal includes:

- Request for price appraisal according to the form in Appendix I of Decree 100/2024/ND-CP;

- The project's legal documents (including: Investment decision approval; Land allocation decision or Land use rights certificate or other land use proof documents; Detailed planning approval at 1/500 scale; Construction permit and other related documents);

- Pricing plan for social housing sales, rent-purchase price built by the investor.

(3) The specialized agency of the Provincial People's Committee where the project is located conducts the appraisal of the sale price, rent-purchase price of social housing proposed by the investor according to the following regulations:

(i) The specialized agency of the Provincial People's Committee where the project is located organizes the appraisal and is responsible to the Provincial People's Committee for the results and deadlines of the appraisal.

In case the investor has completed the construction of social housing and has been audited or finalized in terms of project costs as per regulations, the specialized agency of the Provincial People's Committee where the project is located can base the appraisal on the audit report and the approved final decision to appraise the sale price, rent-purchase price of the social housing of the project.

(ii) Within 30 days from the date of receiving a valid application for price appraisal from the investor, the specialized agency of the Provincial People's Committee where the project is located is responsible for organizing the appraisal and providing written notification of the appraisal results to the investor, clearly stating the agreed contents and modifications needed (if any).

Based on the notification of the appraisal results, the investor issues the sales price and rent-purchase price of social housing for the project, but the price must not exceed the appraised price.

(iii) If the specialized agency of the Provincial People's Committee where the project is located does not provide written notification of the appraisal results within the prescribed time limit stated in point b of this clause, the investor has the right to issue the price according to the pricing plan submitted for appraisal or the proposed price in the bidding documents and enters into sales/rent-purchase contracts for social housing with customers. However, before signing the contract, the investor is responsible for sending the issued social housing sales price, rent-purchase price to the local Department of Construction for monitoring.

(iv) Within 60 days from the day after the time limit specified in (ii), the specialized agency of the Provincial People's Committee where the project is located must complete the appraisal of the social housing sales price, rent-purchase price and notify the appraisal results in writing to the investor.

If the appraisal notification determines that the appraised price is higher than the price previously contracted by the investor, the investor cannot collect additional money; if it is lower, the investor must re-sign the contract or adjust the contract annex and refund the difference to the buyers/rent-purchasers of the social housing.

(v) The specialized agency of the Provincial People's Committee is responsible for publicly disclosing the appraised price on the provincial housing management agency's website (within 15 days from the date of the appraisal results); the project investor publicly discloses the appraised price, sales price, and rent-purchase price of social housing at the project, on the investor's website, and the project's website (if any).

(vi) After the social housing investment project is completed and put into use, the investor conducts an audit, approves the final settlement of the project costs in accordance with regulations, and sends 01 set of documents (certified copy) to the specialized agency of the Provincial People's Committee where the project is located for price review of social housing sales price, rent-purchase price.

If the reviewed social housing sales price, rent-purchase price according to the audit, final settlement approval is higher than the contracted price, the investor cannot collect additional money; if it is lower, the investor must re-sign the contract or adjust the contract annex and refund the difference to the buyers/rent-purchasers of social housing.

(4) In cases where the investor uses the bidding price, they are not required to re-appraise the social housing sales price, rent-purchase price in accordance with Article 35 of Decree 100/2024/ND-CP.

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