Land price in Hanoi up to nearly VND 188 mln per square meter

The Resolution on prices of land in the capital city of Hanoi will be applied from January 1, 2020 to December 31, 2024 which was approved at the 12th session of Hanoi People's Council XV yesterday.

Land price in Hanoi up to nearly VND 188 mln per square meter

In order to avoid a major impact on the activities of businesses and local people in this area, the report at the meeting showed that the Hanoi People's Committee had considered and agreed on the increase of land price list in the period of 2020-2024 based on the proposal of Department of Natural Resources and Environment of Hanoi with an average increase of 15 percent compared to the period 2014-2019. 

However, agricultural land prices were still unchanged on the new land price list.

According to the new land price list, the highest price of urban residential land in Hoan Kiem District is VND 187,920,000 (US$ 8,089) per square meter within the maximum price bracket set by the Government; the lowest price in Ha Dong District is VND 4,554,000 per square meter. 

The maximum urban land price in wards of Son Tay town is VND 19,205,000 (US$ 826.7) per square meter while the minimum price is VND 1,449,000 (US$ 62.4) per square meter. 

The maximum residential land price in districts’ town is VND 25,300,000 (US$ 1,089) per square meter and the minimum price is VND 1,430,000 (US$ 61.6) per square meter.

On the same day, the Hanoi People's Council also approved the Resolution on merging, naming and renaming residential groups in the area. 

Accordingly, the Hanoi People's Committee submitted the plan of merging, naming and changing the names of villages and street of residential quarter in 12 districts and towns.

BY KHANH NGUYEN- Translated by Huyen Huong

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