The Hanoi Department of Natural Resources and Environment has asked local authorities to revoke land use rights on plots handed over to projects in the city for more than 12 months without action.
Hanoi is currently home to lots of licensed projects which are delayed due to different reasons
The move was made following the department’s recent inspection which found violations in the land use for projects. Although getting the land from the city for project implementation for a long time, many investors have not yet carried out their projects as pledged. This has resulted in serious land waste.
According to the municipal Department of Natural Resources and Environment, investors who do not use the allocated land for their projects for more than 12 months will have to return the land to the city.
Meanwhile, projects which are delayed due to objective reasons will be given a six-month extension.
The withdrawal is in line with regulations in Vietnam’s Land Law 2013.
Hanoi is currently home to lots of licensed projects which are delayed due to different reasons, leaving allocated land plots idle in a wasteful way. Many pieces of land have become dumping sites, or misuse of venues. Among those are projects to build offices for lease and apartments such as Apex Tower, Vicem Tower and HUD Tower projects.
Over the past time, some localities, including HCM City, Danang, Khanh Hoa and Dong Nai have also revoked land use on delayed projects even when many investors raised financial difficulties as the reasons for tardiness.
