Land auction in Thach That district with the highest winning price of 185 million per square meter

The Thach That District Land Fund Development Center and the National Joint Stock Auction Company No. 5 have just organized an auction of 28 land plots in Binh Xa village, Binh Phu commune. The total area of ​​28 plots is about 2,300 m2, equivalent to an average of more than 80 m2 per plot.

Of which, 5 plots of land marked A-01 to A-05 have a starting price of 5.8 million VND per square meter, the rest have a starting price of 3.8 million VND per square meter. The auction is organized in many bidding rounds with each round's price step being 5 million VND per square meter.

The auction attracted nearly 320 customers with nearly 1,370 applications. This rate is equivalent to one lot having nearly 49 interested applications, nearly 30% higher than the auction of 34 land plots in Huong Ngai commune, also in Thach That district, which took place on November 24.

After 21 rounds, all 28 plots of Binh Phu commune were successfully auctioned. Of which, 5 plots A-01 to A-05 had winning prices ranging from 160 to 185 million VND per square meter, 28-32 times higher than the starting price. The remaining 23 plots recorded the highest winning price of up to 128 million VND per square meter. The lowest plot won 63.7 million VND per square meter, also 16.7 times higher than the starting price.

The winning price of this session is many times higher than the previous session on November 24 in Huong Ngai commune, fluctuating between 38-59 million VND per square meter. If the buyer pays the full amount of the auction, Thach That district will collect more than 262 billion VND.

The prices of some houses and land on Provincial Road 419 are offered at 150-170 million VND per square meter. Some people in Binh Phu commune said that land on Provincial Road 419 has many advantages for business and investment, so the winning price is at an acceptable level. This route passes through a series of industrial clusters and craft villages such as Phung Xa mechanical and metal craft village industrial cluster, Binh Phu industrial cluster, and Huu Bang commune's traditional carpentry village. This area also has thousands of households doing business and producing furniture such as beds, cabinets, tables and chairs, or steel and metal products...

Mr. Phung Khac Son, Vice Chairman of the District People's Committee, said that the auctioned land in Binh Phu commune has great potential for developing services and trade because it is adjacent to Provincial Road 419 and near Viet Hung University of Industry. According to the plan, Binh Phu commune will be adjacent to the Western urban development area and Quoc Oai ecological urban area with a system of Eye Hospital, Hanoi Heart Hospital and Xanhpon 2 Hospital.

For nearly two weeks, consecutive auctions in suburban districts have continued to stir up the market because many customers paid unusually high prices and then left. Recently, five people were detained for violations related to paying up to VND30 billion per square meter in Soc Son district to "prevent the land lot from being successfully auctioned".

From the beginning of the year to the end of September, districts in Hanoi collected more than VND11,000 billion from land use rights auctions. While in the same period last year, the city only collected about VND9,200 billion.