Over 85,000 Land Titles Granted in Ho Chi Minh City in the First Quarter

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According to the Department of Natural Resources and Environment of Ho Chi Minh City, over 85,000 land titles were granted in the city in the first three months of this year.

Granting Land Titles to Individuals and Organizations

Since the beginning of the year, the authorities have granted initial land titles to 1,849 individuals. In addition, there have been 83,131 registrations for changes in land and real estate ownership, with 81,484 cases involving individuals and 1,647 cases involving organizations.

Land Titles for Residential Projects

Regarding the granting of land titles to homebuyers in commercial residential projects in the city, the Department of Natural Resources and Environment reports that 1,466 land titles were granted in the first two months of the year.

Achievements in 2023

In 2023, a total of 7,184 organizations and individuals were granted initial land titles. Additionally, there were 320,729 registrations for changes in land and real estate ownership, with 313,347 cases involving individuals.

Regarding the results of granting land titles in residential projects in 2023, the Department of Natural Resources and Environment has granted over 22,100 units to homebuyers, exceeding the target of 22,000 units by 101%.

Contributions to the City’s Budget and Economic Development

According to the Department of Natural Resources and Environment, it is estimated that in 2023, the city’s budget will receive revenues of 7,781 billion VND from the issuance of land titles (personal income tax and property transfer tax). At the same time, this will contribute to the city’s economic development, with over 755,000 billion VND in collateral value and registered land and real estate transactions.

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Expediting Land Title Granting

Currently, the Department of Natural Resources and Environment is expediting the granting of land titles for a list of 81,000 units in commercial residential projects that have met the necessary appraisal criteria but have encountered various obstacles. The department has identified six main obstacle groups, including those related to tax payment, delayed submission of documents for land title issuance, new real estate projects, financial obligations, other project impediments, and projects under inspection and investigation.

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