HN to collect VND10 trillion from auctioning land

The capital city plans to collect VND10 trillion (US$444.5 million) from auctioning land use rights this year.

Ha Noi will sell more than 102ha of land in 2017. - Photo Vietbao.vn

Under plan No 14/KH-UBND of the municipal People’s Committee, more than 102ha of land will be auctioned in total, including nearly 57.5ha comprising 68 projects.

The city will spend an estimated VND948 billion in clearing land and developing technical infrastructure for projects with area from 5,000sq.m.

The People’s Committee said the land use rights auctioning was aimed at exploiting efficiently the land resource and raising capital for social and technical infrastructure development.

In 2016, Ha Noi collected more than VND4.2 trillion from auctioning more than 23.8ha of land.

Source VNS