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Hanoi has just allowed the conversion of land use of nearly 4,890 sqm of land in Hoang Mai district to build high-rises with commercial office and parking.

Ha Noi People’s Committee has issued Decision No. 6119 / QD-UBND allowing Hung Son Investment and Engineering Joint Stock Company to transfer 4,889 sqm land at Ngoc Hoi Road, Hoang Liet Ward, Hoang Mai District to associate with Ngoc Lan Real Estate Trading Joint Stock Company to carry out the project of building high-rises with commercial office and parking.

Accordingly, Hung Son Investment and Engineering Joint Stock Company and Ngoc Lan Real Estate Trading Joint Stock Company contact the relevant departments and agencies to determine the unit price of land use fee and land rent; to carry out procedures for land lease; Payment of land use fees, land rent and retrospective payment of land rent.

Contact the Department of Natural Resources and Environment to hand over land boundaries on the map and in the field; to guide the procedures for the granting of land use right certificates and land-attached asset ownership right.

Contact the Department of Construction to guide the issuance of construction permits and construction in accordance with regulations; To guide the performance of the obligation to develop social houses by mode of payment in cash equivalent to the land fund value of 20% of the land price for which the investors perform their obligation towards the State according to regulations.

You can read more information at Vietnam Real Estate Market

After meeting the conditions for selling the house, contact the Hanoi Land Registration Office to carry out the procedures for granting the land use right certificate and the right to own the assets attached to land to the buyer as prescribed; Conduct the handover of the certificate of land use rights and hand over the apartment to the buyer.

Within 12 consecutive months or progress of land use is 24 months slower than the schedule stated in the investment project since receiving the land in the field, the joint venture of Hung Son Investment and Engineering Joint Stock Company and Ngoc Lan real estate trading joint stock company must put the land into use.

In cases where the land is not used, the partnership shall be extended for use for 24 months and shall have to remit to the State the amount corresponding to the land rent rate for the time delayed during this period. If the partnership still has not put land into use or use land incorrectly, the People’s Committee of the city will recover land without compensation for land and assets attached to land.

You are reading the article “Convert Nearly 5000 SQM Of land For Apartment Building Commercial Office In Hoang Mai District” in the section “Real Estate News” on the website: realestatevietnam.com.vn
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