Adjusting land price coefficients in Nghe An province for 2024.
The People's Committee of Nghe An province has recently issued Decision No. 23/2024 regulating the adjustment of land prices in Nghe An province for the year 2024.
The regulations apply to state land management agencies, finance agencies, tax agencies, the Southeast Economic Zone Management Board; economic organizations, Vietnamese people residing abroad, foreign-invested enterprises, households, and individuals permitted by the State to change land use purposes, be allocated land, or lease land with land use fees or land rent; and other relevant agencies and organizations.
Accordingly:
- The land price adjustment coefficient (K) for agricultural land is K=1
- The land price adjustment coefficient for non-agricultural land in Vinh City is K=1.3; in Cua Lo town, Hoang Mai town, Thai Hoa town, Nghi Loc, Dien Chau, Yen Thanh, Do Luong...: K=1.2; in the highland districts of Ky Son, Tuong Duong, Que Phong, Con Cuong: K=1.1.
Specifically for investment projects to build and operate infrastructure for industrial parks in the Southeast Economic Zone, and investment projects to build and operate infrastructure for industrial parks established by the Government in the province: K=1.
This decision takes effect from July 26, 2024 and replaces Decision No. 03/2024/QD-UBND dated February 5, 2024 of the Provincial People's Committee.
The land price adjustment coefficient, known as the K coefficient, is an important factor in determining the specific value of land based on the general market land price, and reflects the influence of local socio-economic factors along with the land price list issued by the People's Committee of the province or city.