Land prices and the authority to determine land prices according to the 2024 Land Law.

Article 160 of the 2024 Land Law stipulates:

1. Specific land prices apply to the following cases:

a) Calculating land use fees for organizations when the State allocates land with land use fees without auctioning land use rights, without bidding to select investors to implement land-use projects, allocating land with land use fees to the winning bidder or economic organizations established by the winning bidder to implement land-use projects, recognizing land use rights, and permitting land use purpose conversion that requires payment of land use fees;

b) Calculating land rent when the State leases land and collects rent in a lump sum for the entire lease period, except in cases where the land use rights are auctioned;

c) Calculating the value of land use rights when privatizing state-owned enterprises in accordance with the law on privatization;

d) Determining the starting price for auctioning land use rights when the State allocates or leases land, except for cases specified in point i, clause 1, Article 159 of this Law;

d) Calculating land use fees and land rent when extending land use rights, adjusting land use duration, adjusting detailed construction planning; permitting changes in land use form;

e) Calculating compensation when the State reclaims land.

2. The authority to determine specific land prices is regulated as follows:

a) The Chairman of the Provincial People's Committee shall decide on specific land prices for cases of land allocation, land lease, permission to change land use purposes, recognition of land use rights, extension of land use rights, adjustment of land use periods, adjustment of detailed construction planning, land reclamation, determination of the starting price for auctioning land use rights, and determination of the value of land use rights when equitizing enterprises under the authority of the Provincial People's Committee as prescribed by this Law;

b) The Chairman of the People's Committee at the district level shall decide on the specific land prices for cases of land allocation, land lease, permission to change land use purposes, recognition of land use rights, extension of land use rights, adjustment of land use periods, adjustment of detailed construction planning, land reclamation, and determination of the starting price for auctioning land use rights under the authority of the People's Committee at the district level as prescribed by this Law.

3. The land management agency is responsible for assisting the Chairman of the People's Committee at the same level in organizing the determination of specific land prices. During the process, the land management agency may hire a consulting organization to determine specific land prices.

4. For areas where land prices are already established for each individual plot based on value zones and standard plots, the specific land price will be determined according to the land price list at the time of land valuation.

5. The Government shall provide detailed regulations for this Article.