Quoc Oai district suddenly stopped auctioning 39 land lots, returned investors' money

National Joint Stock Auction Company No. 5 has just announced the suspension of the auction of 39 land lots at the project of constructing the technical infrastructure for the land auction of land use rights in DG 31/2019, Yen Quan village, Tan Phu commune, Quoc Oai district, Hanoi city. The auction was suspended at the request of Quoc Oai district.

Specifically, the district will review, update, and adjust the land use rights auction plan to ensure compliance with Decision No. 61/2024 of the Hanoi People's Committee and current regulations. The continued organization of the auction will be carried out in accordance with the law and will be publicly announced when there is a decision from the competent authority.

Those who have purchased the documents and paid a deposit to participate in the land auction of this session will have their application purchase fee and deposit refunded according to regulations.

According to the previous announcement, the plots of land to be auctioned have an area of ​​73-114 m2/lot with a starting price of 4.7 million VND/m2. The auction is scheduled to be held on October 25.

On October 13, the Quoc Oai District Land Fund Development Center organized an auction of 54 plots of land in the auction area of ​​Son Trung village, Yen Son commune. The plots of land have an area of ​​92.5-121.4 square meters, with a starting price of nearly 12.5 million VND/square meter. The People's Committee of Quoc Oai District said that nearly 300 customers participated in this auction, registering more than 1,000 applications.

An auctioned land plot in the suburbs of Hanoi (Photo: Tran Khang).

As a result, among the 54 plots of land put up for auction, the highest winning price was nearly 54.5 million VND/m2, 4.3 times higher than the starting price. The lowest lot had a winning price of nearly 44.5 million VND/m2, nearly 3.6 times higher than the starting price. The amount of money that Quoc Oai district collected from the land use rights auction in this round was 242.6 billion VND, higher than the starting price of 179.6 billion VND.

From now until the end of 2024, Quoc Oai district will organize 3 more land auctions in Tan Phu and Sai Son communes with a total auction area of ​​about 9,000 square meters. The total amount expected to be collected from land auctions is about 600 billion VND.

Regarding the issue of land auctions, the Hanoi People's Committee recently sent a document to departments, branches, districts, towns and cities. According to the document, the Hanoi People's Committee noted that land auction organizers should consider regulating the price steps and auction forms (mandatory multi-round auctions) to ensure competitiveness and closeness to market prices.

Source: https://dantri.com.vn/bat-dong-san/huyen-quoc-oai-bat-ngo-dung-dau-gia-39-lo-dat-tra-lai-tien-nha-dau-tu-20241018175358495.htm