Vietinbank reduces price by 5 billion VND for Metropolis apartment of over 456m2

Vietnam Joint Stock Commercial Bank for Industry and Trade - Nam Thang Long Branch ( VietinBank Nam Thang Long) has just announced the auction of property rights arising from the apartment sale and purchase contract between Vietnam Investment and Investment Consulting Joint Stock Company and Truong Minh Company Limited.

The property is a duplex apartment M3-SK04 Vinhomes Metropolis, located on the 44th and 45th floors of the M3 Vinhomes Metropolis building located at 29 Lieu Giai, Ngoc Khanh ward, Ba Dinh district, Hanoi city.

The usable area of the apartment according to the apartment sale contract is: 456.7m2 (actual area when the apartment is handed over is 456.21m2). In which the area of the apartment on the 44th floor is 271.60m2, the area of the apartment on the 45th floor is 185.10m2.

Vietinbank also noted that during the execution process, it was known that the M3-SK04 Vinhomes Metropolis apartment building was granted a certificate of land use rights, house ownership rights and other assets attached to land No. CR 777798, certificate issuance number CT-DA 00833 issued by the Department of Natural Resources and Environment of Hanoi City on August 9, 2019 in the name of Truong Minh Company Limited.

Finance - Banking - Vietinbank reduces price by 5 billion VND for Metropolis apartment of over 456m2

However, because Truong Minh Company Limited has not paid: The remaining 5% of the final installment, interest accrued and other fees according to the document of Vietnam Investment and Investment Consulting JSC and has not fulfilled the financial obligation to issue the land use right certificate according to the tax notice of the state agency. Therefore, the Department of Natural Resources and Environment of Hanoi City still retains the above land use right certificate.

The amount that Truong Minh Company Limited still owes arising from the auctioned assets according to the document of Vietnam Investment and Investment Consulting JSC and the tax authority will be deducted from the auction proceeds (the specific amount will be calculated up to the time of the auction as provided by the coordinating agencies).

According to the property description, the apartment is in a corner position, facing North East, designed in a neoclassical, luxurious architectural style. The balcony has a panoramic view of the whole city, West Lake view. Building M3 is the building with the most open view of the 3 buildings M1, M2, M3.

Sky City apartment is arranged with open floors, including 5 bedrooms, 4 bathrooms; has a private swimming pool; stone walls, granite floors, wooden handrails, and gold-plated stair railings.

The project is located opposite Lotte Shopping Center, 4km from Hoan Kiem Lake, 1.5km from West Lake, 800m from Thu Le Park.

The starting price for this property is more than 54 billion VND, excluding VAT (if any) and taxes, fees, and registration fees to carry out procedures for registering the transfer of ownership and right to use the property.

This price has decreased by 5.22 billion VND compared to the first time in February 2023, VietinBank Nam Thang Long set the starting price for this asset at 59.353 billion VND .

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