Tighten land auction activities to avoid exploitation for speculative purposes

According to the General Department of Land Management, in addition to the positive aspects, the auction land market still has some shortcomings and limitations. These include the phenomenon of paying very high prices for some land lots and then canceling the deposit to create a virtual price level effect to buy and resell many other auctioned land lots or sell the purchased land lots in the area to make a profit; there is a situation of auction brokers, "blue team - red team"; there is a phenomenon of no sanctions to handle the amount of money that the auction winner has paid in the event of having to cancel the land auction contract...

Faced with the above shortcomings, the General Department of Land Management proposed to make recommendations, focusing on reviewing and regulating the unified order and procedures in organizing the implementation of land use rights auctions.

Regulations on equity conditions, bank guarantee commitments, feasibility of capital mobilization, feasibility of investment and business plans on the auctioned land.

Amend the Land Law and other relevant laws to have policies to create favorable mechanisms for land recovery according to planning, invest in building synchronous infrastructure to create land funds, and organize auctions of land use rights.

At the same time, it is added that immediately after the auction ends, the auction winner must immediately pay a deposit to ensure contract performance according to the auction results at the auction and must be calculated according to the value of the auction results.

Add regulations on stopping the auction when there are signs of irregularities in pushing the winning bid too high, causing negative effects.

Supplementing regulations on handling the recovery and payment to the state budget of the amount of money that the auction winner has not yet paid in advance in case the land auction contract must be canceled.

Supplementing regulations on the deadline for paying auction winnings, not allowing late payment and late payment penalties as prescribed in general regulations of the law on tax management.

According to Tin Tuc Newspaper