"Heating up" the real estate market.

(Baonghean) - Thanks to the proactive efforts in reforming administrative procedures by relevant levels and sectors, many people have recently been attracted to buy land through auctions, generating significant revenue for the state budget and contributing to the revitalization of the real estate market.

Vinh City consistently leads the province in land use rights exploitation. To meet the demand for residential land and generate significant revenue for the state budget, the Vinh City People's Committee has assigned the exploitation of land funds to the People's Committees of wards and communes as the main investors (for areas with 10 plots or fewer) and the Land Fund Development Center and the Vinh Investment & Construction Project Management Board as the main investors (for planned areas with 10 plots or more). These entities coordinate with professional auction organizations such as the Auction Center of the Department of Justice, the Provincial Lottery Company, Quang Minh Auction Company, and Phu Quy Auction Company… to organize public and transparent land auctions in wards and communes. This specific assignment allows wards, communes, and related units to proactively handle compensation and land clearance, infrastructure construction, and auction organization.

Investing in the development of integrated technical infrastructure at the residential land project in Quan Bau Ward, Vinh City.

Although the real estate market is currently facing difficulties, by actively accelerating the land use right auction process, shortening the time for issuing land use right certificates, investing in compensation for land clearance, building technical infrastructure, and putting new planned areas up for auction, Vinh City is making a positive contribution to "heating up" the real estate market.

From the beginning of 2015 until now, through land use right auctions and other land use revenue sources, Vinh City has achieved a total revenue of over 303 billion VND. From now until the end of 2015, Vinh City will focus on completing the construction of technical infrastructure in the land auction area of ​​Quan Bau ward to organize the auction of 366 land plots, generating billions of VND in additional revenue to meet the counterpart funding requirements for the ODA project - Vinh Urban Infrastructure Development Sub-project and capital construction investment in Vinh City.

With National Highway 1A running through the commune, Dien Hong - Dien Chau has the advantage of exploiting valuable land resources. On November 16th, the Asset Auction Service Center under the Department of Justice conducted an auction of land use rights in the area west of National Highway 1A in Dien Hong commune and successfully auctioned off 7 land plots with a total winning bid value of 5.6 billion VND. The people of Dien Hong - Dien Chau commune are very active in production and business and have a great need to buy land in advantageous locations near the road. Therefore, land plots adjacent to National Highway 1A, with their comprehensively developed infrastructure, attract significant interest from the people.

Mr. Nguyen Hong Trung, Chairman of the People's Committee of Dien Hong commune, said: “To effectively exploit revenue from land use right auctions, the commune has done a good job in planning, land clearance, and building a comprehensive technical infrastructure… Through professional auction organization, from the beginning of 2015 to the present, 34 residential land plots have been successfully auctioned with a total auction value of over 55 billion VND, and the goal for 2015 is to complete the plan of 60 billion VND from land use right auctions.” Dien Hong is one of the leading units in land use right auctions in Dien Chau district and actively contributes to supporting the district in effectively exploiting land resources. From the beginning of 2015 to the present, the communes that have performed well in land use right auctions are Dien Hong, Dien Hanh, Dien Nguyen, Dien Thinh, etc.

To date, Dien Chau has achieved a total revenue of over 75.5 billion VND (including 115 land plots) and reached 188.75% of the plan assigned by the District People's Council (40 billion VND). To continue effectively exploiting revenue from land use right auctions, from now until the end of 2015, Dien Chau will focus intensely on land allocation and land use right auctions to promptly meet the land use needs of the people and generate revenue for the state budget. Currently, the district is submitting to the Provincial People's Committee for approval the prices of 155 plots in the communes of Dien Thang, Dien Thai, Dien Lien, Dien Thinh, Dien Tan, etc.

Along with Dien Chau, Yen Thanh district has also generated significant revenue from land use rights, reaching over 54.5 billion VND from the beginning of 2015 to the present. Hung Nguyen district has nearly 25 billion VND, Do Luong district over 140 billion VND, and Thanh Chuong over 15 billion VND… Recently, at a meeting of the Provincial People's Committee, Comrade Nguyen Xuan Duong requested that districts, cities, and relevant departments clarify the causes and propose solutions to increase revenue from land auctions. The solutions include transparent information disclosure, setting prices that reflect reality, and organizing well-structured auctions to curb the problem of auction brokers. In addition, it is necessary to accelerate investment in infrastructure at land auction sites to create more valuable land for localities.

Hoang Vinh