Land prices increase when Khanh Hoa modifies the coefficient
- 179
- Business
- 23:46 13/06/2022
DNHN - The Khanh Hoa Provincial People's Committee has decided to issue laws establishing a 5-year periodic land price list for the period 2020-2024 in Khanh Hoa province.
Le Huu Hoang, Vice Chairman of Khanh Hoa Provincial People's Committee, has recently signed a decision on the regulation of land price adjustment coefficients in 2022 in this province, which will take effect on May 30.
According to the 2022 decision on adjusting the K coefficient, the type of urban land type 1 in Nha Trang city located on Tran Phu street from the south of Tran Phu bridge to Hoang Dieu street has the highest increase of 3.6 times; the remaining positions on Tran Phu street increased 3 times, and new urban areas and residential areas in Nha Trang city increased by 2.4 times.
Agricultural land in Nha Trang expanded twofold, agricultural land prices climbed 1.6 times, and commercial and service land increased 1.1 to 2.8 times... The same sequence of K coefficients grows for the rest districts and cities, such as urban land in Cam Ranh city, Ninh Hoa town by 1.9 times, the remaining districts by 1.3 to 1.8 times, and rural land in the districts by 1.1 to 1.5 times.
The Khanh Hoa Provincial People's Committee has planned to issue laws on land price lists every five years from 2020 to 2024. The land price list has been produced, and it is separated into 8 kinds of roads and 1 island, with each type of road having 5 spots with varying prices.
Nha Trang City has the highest price for residential land at 27 million VND/m2 and the lowest price for island land at 400,000 VND/m2; Cam Ranh City has the highest price for residential land at 3.9 million VND/m2 and the lowest price for island land at 299,000 VND/m2; Ninh Hoa Town has the highest price for residential land at 3.9 million VND/m 2 and the lowest price for island land at 156,000 VND/m2.
According to Khanh Hoa Department of Natural Resources and Environment, the determination of land price using the K coefficient is applied to the determination of land price to serve as the starting price for the auction of land use rights when the State allocates land with the collection of money use land, lease land with one-off rental payment for the entire lease period, but the land plot or land area of the project is valued at less than 10 billion dongs, for mountainous and highland provinces; less than 30 billion VND for cities directly under the Central Government and less than 20 billion VND for the remaining provinces. They must engage an evaluation unit for projects worth more than 20 billion VND.
When the state leases land and collects yearly land rent, the coefficient K sets the land price to serve as a foundation for calculating land rent; establish the beginning price for auction of land use rights when the state leases the land with an annual rental payment.
Furthermore, when the State recovers land for projects with adjacent land plots with the same use purpose, profitability and income from similar land use or the case in the land acquisition area do not meet the information requirements to apply other land valuation methods, this coefficient calculates compensation.
PV
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