Hanoi includes flooding during heavy rains in criteria for determining land prices

TH (according to Vietnamnet) • September 18, 2024 14:13

Hanoi specifically stipulates 8 factors affecting land prices, including conditions on water supply and drainage and electricity supply. These conditions are based on criteria on water supply areas, stable or unstable electricity supply and flooding during heavy rains.

Chairman of Hanoi People's Committee Tran Sy Thanh has just signed Decision No. 55 promulgating regulations on a number of contents under the authority of the City People's Committee on determining specific land prices in Hanoi, effective from September 16.

In particular, Article 5 stipulates factors affecting land prices, the maximum difference of each factor affecting land prices, and the adjustment method for each difference of factors affecting land prices (implementing Clause 3, Article 8 of Decree No. 71/2024 of the Government).

Specifically, for non-agricultural land, there are 8 factors affecting land prices.

The Hanoi People's Committee specifically stipulates the criteria for forming factors affecting land prices to analyze and determine a certain level of similarity and adjustment of each factor affecting land prices between the appraised property and the comparable property.

The location and site of the land plot are determined based on the distance in order of priority to the administrative center, commercial center, education and training center, park, entertainment area, market, medical facility (according to the location and current status of the project, land plot, land plot), the adjustment difference is not more than 5%. And the land price is according to the city's land price list (according to the location of the project, land plot, land plot), the adjustment difference is not more than 15%.

Traffic conditions, based on three criteria: road type (asphalt, concrete, dirt and other road structures), road width (including sidewalks), number of adjacent roads of the project, land plot, land plot. The adjustment levels are 5%, 10% and 5% respectively.

In the case of estimating the transfer price of land and individual houses, the land valuation organization shall conduct a survey, collect and evaluate additional criteria on the internal road cross-section (if any) adjacent to the land plot according to the approved planning, the adjustment difference shall not exceed 5%.

Notably, regarding water supply and drainage and electricity supply conditions, the City People's Committee has made regulations based on two criteria: Stable or unstable water and electricity supply areas, the adjustment difference is not more than 5% and flooding when there is heavy rain, the adjustment difference is not more than 5%.

In addition, there are factors such as area, size, shape of the land plot, land area; factors related to construction planning; current environmental status, security; land use term and other factors affecting land prices in accordance with actual conditions, cultural traditions, customs and practices of the locality (including: scenic spots; temples, pagodas, shrines; traditional craft villages).

For agricultural land, according to regulations, there are 5 factors affecting land prices with the adjustment difference not exceeding 20%.

Specifically, crop and livestock productivity; location, characteristics of land plots, land areas, nearest distance to production and product consumption locations; traffic conditions serving production and product consumption, road width, road grade, road surface structure, terrain conditions;

The land use term, except for agricultural land allocated by the State to households and individuals according to the agricultural land allocation quota, and agricultural land within the quota for receiving transfer rights, is not based on the land use term.

In addition, there are other factors that affect land prices in accordance with the reality, cultural traditions, and customs of the locality. These factors are determined based on the actual situation, and the consulting organization determines the specific land price proposal in the explanatory report on the development of the land price plan.

Every time it rains heavily, there is deep flooding but real estate prices skyrocket.

In fact, many new urban areas in Hanoi have been flooded during heavy rains. In particular, the western area of Hanoi, especially along Thang Long Avenue, Le Trong Tan Street (Ha Dong District)... is often deeply flooded.

However, real estate prices in this area have been constantly increasing. Recently, the West of Hanoi has become a hot spot for Hanoi real estate with a series of projects from "big guys".

Market research shows that apartments in this area cost up to 80 million VND/m2. Some Masterise apartment buildings have reached nearly 100 million VND/m2.

Over the past 3 years, the price of secondary villas and townhouses here has also tripled, from 40-50 million VND/m2 in 2021 to 150-180 million VND/m2 now. But flooding is still a nightmare for people in many new urban areas in the West of Hanoi.

Planning experts assess that new urban areas in the west of Hanoi are submerged in rainwater primarily due to excessive rainfall.

In addition, the foundation of the western urban areas is high, most of the newly licensed urban areas in Hanoi are planned according to the new foundation, divided into 4 urban drainage areas.

Particularly for the intersection between Le Trong Tan Street and Thang Long Avenue, which has the lowest elevation in the area, the city has flooded many times, so the city has come up with a plan to build an underground tunnel and dig a regulating lake to drain the water.

In addition, it is necessary to consider linking the drainage infrastructure of these urban areas with the main external drainage axis.