|HCM City has made the annual amendments to land price co-efficients – used to calculate compensation in case of acquisition -- in districts 2, 8 and Bình Tân. — Photo plo.vn|Viet Nam News
HCM CITY — The HCM City People’s Committee has announced the new coefficients used for calculating land prices in some areas for paying compensation this year.
To calculate the compensation to be paid, the land price fixed by the city is multiplied by the current coefficient for a location. They are adjusted every year.
The prices currently in use are fixed for the period from 2015 to 2019.
Thus, to acquire and pay compensation for land for the upgrade and widening of Trần Não Street, District 2, a coefficient of 2.72 is multiplied by the price of VNĐ22 million (US$960) per square metre to arrive at VNĐ59 million (US$2,577).
For Street No 60 in Thảo Điền Ward, District 2, the coefficient is 6.66. For Street No 40, it is 6.16.
The coefficients for agricultural land in these places range from 21.05 to 26.31.
The city has also announced the new co-efficient – 4.97 – for landslide-prone Bông Sao Street in District 8. Households there are set to be relocated.
On National Highway No 22 near the An Sương intersection, the coefficient for non-agricultural land used for religious purposes is 4.07.
For the second stage of clearance of the Bình Hưng Hoà cemetery in Bình Tân District, the coefficients for Tân Kỳ Tân Quý Street and Bình Long Streets are 3.61 and 3.66. — VNS