Monday, August 2 2021

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HCM City to improve management as land prices soar

Update: May, 24/2021 - 07:21

 

The HCM City's People's Committee is seeking way to control soaring land prices as well as remove administrative barriers for real estate firms. Photo baotintuc.vn

HCM CITY – The deputy chairman of the HCM City People’s Committee, Lê Hòa Bình, has directed authorities at all levels to strengthen land administration.

He instructed district authorities to strictly enforce regulations on dividing lands for sale, especially in suburban areas where the practice has caused prices to rise.

The prices are increasing dramatically in some places, which could affect socio-economic development and investment.

Bình has tasked the Department of Construction with strengthening oversight of property projects to ensure compliance with the Law on Land, the Law on Investment and the Law on Real Estate Business.

At the same time, it must inspect and correct real estate brokerage activities, ensuring that the activities comply with the provisions of law, to prevent brokers increasing property prices.

In many localities, fake news has been spread about government development plans, including taking advantage of speeches made by top leaders to create fake documents to spread news, and this has hugely affected the interests of investors who lack knowledge and experience, according to the city People’s Committee.

There are also instances of people selling lands to which they have no title, such as forest lands, and brokers spreading fake information to drive prices up, it said.

It instructed all related authorities to publicise plans, the progress of infrastructure development works and real estate projects, especially major ones, and mergers and upgrades of administrative units.

It promised businesses that the city would continue to support them amid the COVID-19 pandemic, and speed up major projects that have been delayed.

People’s Committee Chairman Nguyễn Thành Phong said more efforts should be made to improve the business climate and competitiveness, eliminate difficulties faced by businesses and push forward with administrative reform.

He instructed the Department of Home Affairs to set up a working group to mitigate the problems faced by enterprises, especially those related to administrative procedures. – VNS

 

 

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