GOVERNMENT ISSUES NEW REGULATIONS ON LAND VALUATION
The Government on February 5 issued Decree 12/2024/ND-CP, specifying four land valuation methods instead of the current five, namely comparison method, income-based method, surplus-based method and land price adjustment coefficient method.
In addition, the new regulation also details conditions applying those methods.
Under the new Land Law 2024, the land price list will be published on an annual basis with the first list applied from January 2026. On an annual basis, the provincial/municipal People's Committee will propose to the provincial/municipal People's Council adjustment, amendments and supplements for the land price list, which will become effective the following year.
The specific land price on the land price list is used as a starting price for auctioning land use rights when the State allocates land with collection of land use fees, or leases land with a one-time fee for the entire lease period.
The natural resources and environment agency is responsible for helping People's Committees at the same level carry out the determination of specific land prices.
