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Capital land prices increase up to 40%

Capital land prices increase up to 40%

The Ha Noi People's Committee has set a new land price framework for more than 1,100 streets in 29 districts and wards in the Capital.
 
The new prices will be applied as of January 1 this year to calculate tax on land use, land use right transfers and compensation in cases of land retreated by the government.

Within the new framework, maximum land prices will rise from VND67 million (US$3,600) per sq.m to VND81 million ($4,400) per sq.m, representing an increase of 21 per cent on last year. The lowest rate in the inner city will be set at VND1.8 million per sq.m.

From Khanh's perspective, land prices should be changed to ensure increased budget revenue via land taxes. Bringing land prices in line with market prices would encourage more efficient implementation of investment projects.

 
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Đô thị vị nhân sinh / Cities for People

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