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Land price survey to form reference
The Ha Noi People's Committee has ordered the city's Department of Natural Resources and Environment to conduct a survey of land prices in the city based on real estate transactions this year.
The survey will trace land prices in 577 communes, wards and towns in the city and will be conducted between August 16 and September 15, the People's Committee announced.
The survey results will be used as a reference for the official 2011 land price structure and should make official prices more reflective of and responsive to the market prices, the committee said.
The department was forming a working group, comfirmed department head Vu Van Hau. The working group would evaluate the survey results and draft a new land price framework by around mid-November for consideration by the People's Committee, Hau said.
The current price structure, in effect since last January 1, reflected increases in land value during 2009 of 21-40 per cent, yet official prices still lagged behind market values.
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