Hà Nội District set to Auction Nearly 500 Plots of Land
The Mê Linh District in Hà Nội, Vietnam is planning to auction off approximately 500 plots of land in 2024. The revenue generated from the auction will be used by the district for infrastructure development and to meet the criteria for upgrading to a higher administrative level by 2025 and eventually becoming a metropolitan city by 2030.
Auctioning Land for Future Development
The Mê Linh District Land Development Center has partnered with a third-party organization to facilitate the sale and documentation of 19 plots of land in the Chu Trần hamlet, Tiến Thịnh commune. The auctioned plots range in size from 90.7m2 to 101.1m2, with starting prices ranging from 23.2 million đồng/m2 to 30 million đồng/m2. The auction is scheduled to take place on March 16th. These plots of land are conveniently located approximately 1km away from the Belt Road 4 interchange and the Mê Linh Road, making them ideal for economic and business development.
Successful Auctions and Revenue
As of December 31st, 2023, the Mê Linh District has successfully organized 16 land auctions across 8 projects, generating revenue of nearly 760 billion đồng for the local budget. This amount exceeded the target of 30% and ranked the district third in Hà Nội in terms of land auction revenue.
Notable auctions include the sale of 70 plots of land in the Chu Trần hamlet, Tiến Thịnh commune, which attracted approximately 300 participants. Out of these, 46 plots were successfully auctioned, resulting in earnings of over 150 billion đồng, surpassing the starting prices.
Another successful auction took place on October 26th, 2023, where 35 plots of land in the Tam Đồng commune were auctioned, generating 106 billion đồng for the district’s budget. Similarly, an auction on September 11th, 2023, involving 43 plots of land in the Xa Mạc hamlet, Liên Mạc commune, brought in over 100 billion đồng.
The recent auction of 47 plots of land in the Chu Trần hamlet, Tiến Thịnh commune, was held on January 30th, 2024, and achieved a successful outcome, contributing over 136 billion đồng to the district’s budget, surpassing the starting prices.
Future Auction Plans
In 2025, the Mê Linh District People’s Committee plans to carry out 14 projects, covering a land area of 11 hectares, and auction approximately 1,000 plots of land. These auctioned plots will be strategically located in central areas of communes and townships, adjacent to transportation routes and urban areas, facilitating economic and business development. Currently, these plots of land have already been detailed in the district’s 1/500 planning. Relevant agencies are finalizing the auction documents and constructing necessary technical infrastructure.
Investors participating in land auctions in the Mê Linh District will receive maximum support in terms of purchasing documentation, payment procedures, and expedited issuance of land use rights certificates, minimizing the need for multiple visits.
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