Hanoi: New land auction policies – what businesses need to know

Specifically, the Hanoi People’s Committee has fully repealed Decision No. 19/2019/QĐ-UBND dated October 15, 2019, which outlined the authority for approving the starting prices for land use rights auctions to allocate land with land use fees or lease land within the city.

Under Decision No. 19/2019/QĐ-UBND, for plots or areas valued at 30 billion VND or more (based on current land prices), the Chairman of the City People's Committee was directly responsible for approving the starting auction price. In other cases, the authority was delegated to the Chairman of the district-level People’s Committee.

Simultaneously, Decision No. 07/2023/QĐ-UBND dated April 21, 2023, which amended Article 1 of Decision No. 19/2019/QĐ-UBND, has also been repealed.

Under this new regulation, the Hanoi People’s Committee will approve the starting prices for land use rights auctions for allocating land with land use fees or leasing land under a one-time payment for the entire lease period, applicable to plots or areas valued at 30 billion VND or more (based on the current land price list). For other cases, the authority to approve starting prices is delegated to the district-level People’s Committees.

This decision will take effect on December 1, 2024.

Xuan Hoang