There is a 'Red Army' in the land auction

16/05/2017   Viewed: 559
Regarding the proposal of the Ministry of Finance on the project of converting "gold land", on May 11, HCM City Real Estate Association (HoREA) made a petition to the Prime Minister.

Of the 60 real estate projects being converted during the equitization process, the Ministry of Finance has asked the Government Inspectorate to review land use. According to HoREA, many projects have been completed. There are projects under construction, there are projects in the process of preparation of investment ... should have appropriate treatment solutions to ensure both the right process of land conversion. The law, the determination of land prices close to market prices, not to lose revenue state budget, ensure the legitimate interests of investors, especially to respect and protect the legitimate rights and interests of home buyers. .
 
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The Rivera Park Project Ground, 69 Vu Trong Phung, was the original land of Vinaremon Central Remedies Joint Stock Company. Later, Long Giang Investment and Urban Development Joint Stock Co (Long Giang Land) implemented a mixed-use commercial center complex for sale and lease.

HoREA proposed the Prime Minister to soon issue a decision amending, supplementing or deciding to replace Decision No. 09 of 2007, Decision No. 140 of 2008, Decision No. 86 of 2010 of the Prime Minister. This is the basis for creating a transparent, equitable, competitive and strict legal corridor in order to implement the policy of rearrangement and treatment of state-owned houses and land, relocation of polluting establishments. Environment and facilities must be relocated in accordance with urban construction planning.
According to HoREA, the regulator should amend the Land Law on land use rights auctioning and amend the Law on Procurement on land use right bidding procedures to ensure publicity, transparency, and engraving. To bid for the auction, to bid for "Red Army".
On the other hand, the HoREA petition still allows developers to continue implementing the project. Investors must make written commitments to fulfill their financial obligations (if any) for the projects after the inspection conclusions are reached, to complete the projects put to use. This is to avoid wasting time and social wealth, ensuring the rights of homebuyers.
"The homebuyers that contracted and performed contracts on these projects are the righteous, faultless. The Association expects that they will not be responsible for any financial obligations incurred by the project owner (if any), "HoREA said.
A list of 60 projects that were transformed during the equitization of enterprises in the period July 2014 to November 2016 was transferred to the Government Inspectorate by the Ministry of Finance for consideration before. Ownership of State-owned enterprises or joint-stock State-owned enterprises is allowed to change the land use purpose. After conversion, these lands were used to implement many major projects.
These projects are concentrated in 8 provinces and cities: Hanoi, Ho Chi Minh City, Vung Tau, Tay Ninh, Lam Dong, Nghe An, Nam Dinh and Quang Ninh. In particular, Hanoi has 24 projects accounting for nearly 50%, Ho Chi Minh City has 11 projects. This list includes many major projects. Many "golden land" have been traded, transferred to other investors. State owned enterprises are only holders of titles.

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