Temporarily suspend land auctions in Hoai Duc for the Ministry of Natural Resources and Environment to conduct an inspection.

According to the plan, on August 26, Hoai Duc district (Hanoi) will continue to organize the auction of the remaining 20 plots of land in Long Khuc area, belonging to lots LK01 and LK02 (located right next to the 19 plots of land that were auctioned on August 19-20, causing a stir with the highest winning price of up to 133.3 million VND/m2.)

The starting price is still 7.3 million VND/m2; area ranges from 89-145m2; deposit from 130-212 million VND/plot. August 23 is the deadline for submitting applications.

However, according to the Hoai Duc District Land Fund Development Center, the auction of the above 20 land plots will have to be temporarily suspended for inspection and review according to Official Dispatch No. 82 of the Prime Minister dated August 21, 2024, directing relevant agencies to promptly rectify the auction of land use rights.

Mr. Nguyen Huy Hoang - Director of Hoai Duc District Land Fund Development Center said that tomorrow (August 23), a working group from the Ministry of Natural Resources and Environment will come to inspect the actual results of the recent land auction.

“The working group of the Ministry of Natural Resources and Environment will survey the land auction work in the district according to the new telegram of the Prime Minister. After the working session with the working group, if there are no problems and all work is carried out properly, the district will soon have a plan to continue auctioning the remaining land lots in Long Khuc area, Tien Yen commune,” Mr. Hoang informed.

Today, August 22, Chairman of Hanoi People's Committee Tran Sy Thanh signed Official Dispatch No. 2781/UBND-TNMT requesting relevant departments, branches and units to inspect, detect and handle violations of the law related to the unusually high auction results of land use rights in the capital.

According to the assessment of the Hanoi People's Committee, recently, there has been a phenomenon of land use rights auctions with winning prices many times higher than the starting price. For example, land auctions in Thanh Oai district were 7-8 times higher; land auctions in Hoai Duc district were the highest, 18 times higher.

The above unusually high winning bids may affect socio-economic development, investment and business environment, housing and real estate markets.

Therefore, the Hanoi People's Committee requested the Hanoi Department of Natural Resources and Environment to coordinate with relevant departments and branches to inspect all land auctions in Thanh Oai and Hoai Duc districts in the past time; thereby promptly detecting and resolutely handling violations of the law (if any).

Previously, on August 21, Prime Minister Pham Minh Chinh signed and issued Official Dispatch No. 82/CD-TTg directing relevant agencies to promptly rectify land use rights auctions, following recent land auctions.

Accordingly, the Prime Minister requested the Chairmen of the People's Committees of provinces and centrally-run cities to direct agencies and functional units to review the organization of land use rights auctions in the area to ensure compliance with the law, publicity and transparency; promptly detect and strictly handle violations of legal regulations in land use rights auctions, and prevent acts of taking advantage of land use rights auctions for profiteering and disrupting the market.

The Minister of Natural Resources and Environment shall preside over and coordinate with the Ministers of Justice, Finance, Construction and Chairmen of People's Committees of provinces and centrally-run cities to urgently review and inspect the organization of land use rights auctions in cases showing signs of abnormality; handle according to authority violations of legal regulations on land use rights auctions; promptly detect inadequacies in legal regulations to advise and propose competent authorities to amend, adjust and supplement, and prevent profiteering.

On that basis, the Minister of Natural Resources and Environment proposed a plan to strictly handle acts of taking advantage of auctions of land use rights to disrupt the market and report to the Prime Minister before August 30, 2024.

The Minister of Construction shall preside over and coordinate with the Ministry of Natural Resources and Environment and the People's Committees of provinces and centrally-run cities to study and specifically assess the impacts of the recent land use rights auction results, especially cases with unusually high auction results, many times higher than the starting price, on the land and housing price level, on the housing and real estate market (supply and demand); proactively regulate and resolve according to authority and have effective solutions or propose solutions to limit negative impacts (if any), and report to the Prime Minister.

Authorities direct units and localities to strengthen their grasp of the situation, promptly detect, prevent and strictly handle violations of legal regulations in land use rights auctions, especially acts of collusion to manipulate the market and inflate prices to create an unhealthy market that is not true to reality for profiteering.

The Ministers of the Ministry of Natural Resources and Environment, Ministry of Construction, and Ministry of Finance urgently provide guidance and organize training for localities on new policies of the Land Law, Housing Law, Law on Real Estate Business and tasks directed by the Prime Minister in Official Dispatch No. 79/CD-TTg dated August 13, 2024.

The Prime Minister assigned Deputy Prime Minister Tran Hong Ha to directly monitor and direct the implementation of this dispatch; the Government Office regularly monitors the situation and promptly reports to the Prime Minister and Deputy Prime Minister in charge on urgent and arising issues.