Hanoi allocates land for housing areas, requiring investors to ensure implementation progress
Hanoi City has just decided to allocate nearly 24,727 m² of land in Bo De ward to Hanoi Real Estate Investment and Development Joint Stock Company to build a housing area. Accordingly, the investor will have to complete a series of financial, construction and land use obligations on schedule, otherwise they will be handled according to the provisions of the Land Law.
Details of the land allocation decision
According to information from the Hanoi Department of Natural Resources and Environment, this land allocation decision is for the purpose of developing commercial housing in Bo De ward, Long Bien district. The allocated land area is 24,727 m², located in Bo De ward with a land use term of 50 years.
This is part of Hanoi city's housing development strategy, to meet the housing needs of people, especially low- and middle-income households. The allocated land has a strategic location, located in an area that is being synchronously planned and developed with modern infrastructure.
Information about investors
Hanoi Real Estate Investment and Development Joint Stock Company is a unit with many years of experience in the field of housing investment and construction in the Capital. With large charter capital and a professional technical and management team, the company has successfully implemented many large housing projects in the city.
According to the most recent financial report, the company has total assets of more than 5,000 billion VND, with annual revenue from construction investment activities reaching about 800-1,000 billion VND. The company is also highly appreciated for its financial capacity and ability to implement projects on schedule.
Obligations of investors
To be allocated land, Hanoi Real Estate Investment and Development Joint Stock Company must commit to fully implementing the following obligations:
- Pay land use fees according to regulations at the time of signing the land allocation decision
- Complete financial obligations related to the project
- Construction of the project according to the approved schedule
- Ensuring project quality and compliance with construction regulations
- Use land for the assigned purpose
- Protect the environment and comply with fire prevention regulations
In particular, the investor must complete construction and put the project into use within 36 months from the date of land allocation. If the company does not complete it on schedule, it will be handled according to the provisions of the Land Law and its guiding documents.
Handling violations
According to the 2013 Land Law and guiding documents, if the investor does not comply with commitments on land use progress, the city will take the following measures:
| Form of violation | Level | Processing form |
|---|---|---|
| Slow project implementation | Under 12 months | Penalties for administrative violations |
| Slow project implementation | Over 12 months under 24 months | Fines for administrative violations and recovery of part of the land area |
| Slow project implementation | Over 24 months | Recover the entire allocated land area |
| Using land for wrong purposes | Any level | Land recovery and administrative fines |
Meaning of the project
The allocation of land to build a housing area in Bo De ward is important to the urban development of Hanoi. The project not only contributes to solving people's housing needs but also creates a modern urban area with synchronous infrastructure and services.
Bo De Ward belongs to Long Bien District, an area that is receiving strong investment in transportation infrastructure, schools, hospitals and other public works. The implementation of the housing project here will contribute to improving the quality of life for people and promoting the local economy and society.
Similar projects
In Hanoi, in recent times, many commercial housing projects have been allocated land and implemented successfully. Some typical projects include:
- Housing project in Co Nhue ward, Bac Tu Liem district: Area of 15,000 m², completed and handed over to people
- Housing project in My Dinh ward, Nam Tu Liem district: Area 20,000 m², in the completion stage
- Housing project in Dai Mo ward, Nam Tu Liem district: Area 18,000 m², 80% completed
These projects are all implemented by capable investors, ensuring progress and quality, making an important contribution to solving housing needs for the people of the Capital.
Conclude
The allocation of land to build a housing area in Bo De ward is an important step in Hanoi's housing development strategy. The city has required investors to strictly comply with regulations on progress, quality and land use. If implemented successfully, the project will make an important contribution to solving housing needs, improving people's quality of life and promoting local socio-economic development.
Tightening management of housing projects also shows the city's determination to ensure projects are implemented on schedule and with quality, avoiding delays and waste of land resources.