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HCMC suspends change of land use purposes at seven property projects

The HCMC government has put on hold the process of changing the land use purpose of seven land lots in prime locations in Phu Nhuan District, with a combined area of nearly 50,000 square meters, where commercial and housing projects have either been completed or neared completion, according to the local media.

All of the land lots have been used to develop complexes for commercial and service facilities, offices, officetels and apartments by subsidiaries of Novaland Group. Thousands of households have moved into these apartments.

According to the city authorities, the move is aimed at reviewing the legal documents of these projects.

The largest land lot, which has an area of more than 15,000 square meters, is at 119 Pho Quang Street. Meanwhile, two land lots on Hong Ha Street, two others on Nguyen Van Troi Street, one on Hoang Minh Giam Street and another on Truong Quoc Dung Street all face the same hiccup.

Homeowners living in apartments at 128 Hong Ha Street and 17-19-21 Nguyen Van Troi Street have already been granted certificates of land use rights and ownership for the houses and other land-attached assets.

As for the land lot at 8 Hoang Minh Giam Street, which has an area of some 4,700 square meters, the State Audit of Vietnam (SAV), in May last year, concluded that the land use purpose had been changed illegally.

In October 2018, HCMC Vice Chairman Tran Vinh Tuyen asked the relevant departments and agencies to review all projects subject to SAV’s inspections.

Meanwhile, a Novaland representative remarked that the group had been notified of the city’s decision to suspend the change of use purposes of seven land lots in Phu Nhuan District, adding that the firm had petitioned the city to reconsider its decision.

In addition to the seven land lots, the HCMC government has suspended the conversion of the use purpose of six land lots belonging to equitized State-owned enterprises.

These land lots have also been used by Novaland Group to develop real estate projects, and most of these projects have been put into service.

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HCMC suspends change of land use purposes at seven property projects

The HCMC government has put on hold the process of changing the land use purpose of seven land lots in prime locations in Phu Nhuan District, with a combined area of nearly 50,000 square meters, where commercial and housing projects have either been completed or neared completion, according to the local media.

All of the land lots have been used to develop complexes for commercial and service facilities, offices, officetels and apartments by subsidiaries of Novaland Group. Thousands of households have moved into these apartments.

According to the city authorities, the move is aimed at reviewing the legal documents of these projects.

The largest land lot, which has an area of more than 15,000 square meters, is at 119 Pho Quang Street. Meanwhile, two land lots on Hong Ha Street, two others on Nguyen Van Troi Street, one on Hoang Minh Giam Street and another on Truong Quoc Dung Street all face the same hiccup.

Homeowners living in apartments at 128 Hong Ha Street and 17-19-21 Nguyen Van Troi Street have already been granted certificates of land use rights and ownership for the houses and other land-attached assets.

As for the land lot at 8 Hoang Minh Giam Street, which has an area of some 4,700 square meters, the State Audit of Vietnam (SAV), in May last year, concluded that the land use purpose had been changed illegally.

In October 2018, HCMC Vice Chairman Tran Vinh Tuyen asked the relevant departments and agencies to review all projects subject to SAV’s inspections.

Meanwhile, a Novaland representative remarked that the group had been notified of the city’s decision to suspend the change of use purposes of seven land lots in Phu Nhuan District, adding that the firm had petitioned the city to reconsider its decision.

In addition to the seven land lots, the HCMC government has suspended the conversion of the use purpose of six land lots belonging to equitized State-owned enterprises.

These land lots have also been used by Novaland Group to develop real estate projects, and most of these projects have been put into service.

saigontimes

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