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Requesting For A Resettlement Apartment Larger Or Equal To The Old Apartment, The Buyers Of The Apartment Are Benefited

Recommended resettlement apartment

In the written comments on compensation, support, resettlement, and resettlement in the project of rebuilding the old apartment in the city, the Association of Ho Chi Minh City (HoREA) has proposed Resettlement site in place larger or equal to the old apartment. With this suggestion, the buyers can be assured that the apartment is cleared or demolished in the future.

Specifically, Ho Chi Minh City Real Estate Association recommends that the City stipulates that the conversion rate of resettlement flats is at least 1.1 times the size of the old apartment and encourages the investors to convert. The relocation of resettlement apartments is 1.1 times higher than the size of the old one so that the households are easy to accept and the districts are easy to implement.

See more: Vietnam Real Estate Law

In the case of old apartments with 2 or more households, they are entitled to resettlement on the principle of preserving the legal value of the old apartment and will be settled for one or more resettlement apartment (for the case where the old apartment has more than 2 household) at the project (if any).

Ownership of apartments should be settled in accordance with the law on social housing, the sale price is the price of capital audited investment construction plus 10% of profits for investors, borrowed from the city’s concessional lending.

Recommended resettlement apartment
The proposed resettlement apartment is at least 1.1 times the size of the old apartment

Suggested buyers of the apartment selected the mode of resettlement

As the Department of Construction proposed that the state select the investor, the only way to resettle on-site to fit the practical conditions of the city. However, HoREA found that the resettlement arrangements and the ownership of the apartment after the resettlement were two different things. Legitimate owners of the old apartment will be granted the title of the new apartment; State-owned apartments will be dealt with to sell new apartments according to regulations on the management and use of state-owned houses; For housing, difficult households will be solved by social housing policy.

The Department of Construction proposes, “For apartments selected by the owner of the building, especially for apartments that have been identified as damaged or dangerous apartment buildings and which are overdue, the owners of the apartment buildings have not selected the investor to renovate and rebuild the condominium, the State will organize the temporary residence, select the investor to build and hand over the house fund for resettlement in place for Organizations. Households and individuals are owners or valid users of such condominiums and they do not implement the mode of compensation. “

Mr. Le Hoang Chau, Chairman of HoREA, said that the proposal of the Department of Construction proposed only one method of resettlement on the spot, but not including the method of resettlement in other places, or local People ask for compensation in cash for self-relocation in accordance with the Housing Law and Decree 101 of the Government.

“If the city only stipulates one way of resettlement in place, it limits the choice of resettlement methods of households in the apartment, easily lead to complaints,” Chau said. Therefore, HoREA is asking for additional comments, as people have the right to choose the mode of resettlement. According to Chau, Ho Chi Minh City can not stipulate the only way to resettle in place as proposed by the Department of Construction, although this is the best way.

Recommended resettlement apartment
Will apartment buyers choose the mode of resettlement?

In addition, HoREA also recommends the need for additional resettlement methods in other locations or the way people ask for cash compensation for self-relocation in accordance with the law, along with The implementation of satisfactory and satisfactory temporary residence during the waiting period resettlement.

According to statistics of Ho Chi Minh City People’s Committee, by the fourth quarter of 2016, there were 474 apartment blocks (565 lots) built before 1975. These are old condominiums with over 40 years of use, of which the most concentrated in District 5 with 203 apartments. Through inspection, of the total of 474 apartments mentioned above, 44 plots were identified as serious damage. Ten years ago, the city demolished condominiums, but progress was slow. Specifically, from 2006 to 2015 have dismantled 22 apartments with a scale of about 200,000 sqm.

To speed up the renovation, the city and departments are authorizing the district People’s Committee many powers such as Approval of repair funding estimate and funding inspection; Approve and announce plans for improvement, repair or construction; Recognizing the owner;  approval of compensation, support and resettlement plans.

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Requesting For A Resettlement Apartment Larger Or Equal To The Old Apartment, The Buyers Of The Apartment Are Benefited
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