HCM CITY – In an aim to prevent illegal activity in the property sector, the HCM City administration has directed the Department of Construction to distribute legal documents on real estate business and services to property transaction floors.
The documents include information about real-estate brokerage and price assessment and management, according to the People's Committee.
The People's Committee also asked the department to conduct inspections of organisations and individuals in the real-estate industry.
The city told the department to publicise its list of violations and the names of illegal real-estate transaction floors.
They also asked the department to conduct research on the kind of policies that could improve the operation and services of real-estate transaction floors.
As part of the plan to clean up real-estate activities in the city, the municipal government has also told the city's Department of Planning and Investment to provide information about the operations of real-estate companies.
The city asked the department to draw up a list of businesses that have been issued new business or investment certificates, and that have been closed, suspended or banned from operating.
Businesses whose investment certificates have been withdrawn will also be included on the list.
Under the city's directive, the Department of Natural Resources and Environment will be responsible for informing district People's Committees about the procedures for issuing land-use ownership certificates and house-ownership certificates for real-estate products via real-estate transaction floors.
As of the end of last year, the city had more than 350 legal property transaction floors, accounting for 50 per cent of the number of property transaction floors nationwide, according to the Department of Construction.
However, the management of the operation of many real-estate transaction floors has been lax.— VNS