Yen Thanh rice district collects over 90 billion VND from land auction
(Baonghean.vn) - Over the past year, the land market in Yen Thanh has suddenly become more vibrant, with people "racing" to buy land in urban areas and even remote rural areas. Therefore, land prices have also been pushed up.
A typical example is Ma Thanh commune (Yen Thanh), in February 2018 the commune planned to sell 28 plots of land along Dong Bau and Da Dung hamlets. Mr. Bui Trong Long - Chairman of Ma Thanh Commune People's Committee said: At first, we thought it would be difficult to sell because the land was in a remote mountainous area, but unexpectedly the price increased after the auction.
Starting price 1.6 million VND/m2, but through auction it has reached 3.3 million/m2The reason for the "dizzying" increase in land prices is that Ma Thanh commune has over 1,000 workers sent abroad to send money back to buy land to store and build high-rise buildings. Because no one would give in, the auction "increased" the price.
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People in Yen Thanh town build high-rise buildings on the land that was just auctioned. Photo: Van Truong |
To ensure the auction is public, safe and to limit the number of brokers, Ma Thanh commune invited a reputable land auction company to organize the auction. Ma Thanh commune People's Committee also mobilized the police force to ensure security before, during and after the auction.
All bidders are given a card when they arrive. If anyone does not have a card during the auction, the security team will ask them to leave the auction room. At the end of 2018, the commune continued to auction over 30 plots of land, the money received from the commune's land fund was used to focus on building new rural projects.
Ms. Dang Thi Dung - Head of the Finance and Planning Department of Yen Thanh district said: Since the beginning of 2018, Yen Thanh has auctioned land use rights for about 280 plots of land worth over 90 billion VND, exceeding 50% of the annual estimate. Revenue from land sales from localities is paid directly to the State budget without going through the district's temporary account, so the progress is fast.
According to Ms. Dang Thi Dung, the land market in Yen Thanh is "warming up" because people's lives have improved, many people have the need to buy land on convenient roads to do business and trade services. The district has proposed solutions to limit land brokers such as increasing deposits, implementing confidentiality of land auction records during the auction, mobilizing security forces to protect before, during and after land auctions.

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