Tiny land lot priced at VND1b
Nguyen Phuong Cham, in Quan Hoa Ward, lost 58.5 square metres, which was reclaimed for the road construction and moved his family elsewhere. He is left with 1.7 square metres of cut-off land.
Cham offered the lot for sale at VND400m, then decided he could build a 10m wall on it and is now offering it at VND1bn.
His offer would value the remaining land on the 570m long road at nearly VND1trn (USD46 million).
The chairman of the ward’s people’s committee, Nguyen Minh Tuyen, said, “Households have tiny land lots are trying to sell to their neighbours.”
Neighbouring Cham’s land, three families have 17.2 square metres left after the road construction, and have set up corrugated iron fences that block access to other plots.
Corrugated iron fence closes off tiny plot
“We’ve assigned cadres to negotiate with these families and encouraged them to sell the land to their neighbours, but at such high prices it does not make sense,” Tuyen said.
Local authorities said there are 25 tiny plots along the road, but the spaces are too small for any construction.
They said if owners fail to sell to their neighbours, their land could be claimed with compensation by the state for other uses, such as notice-boards, bus stops or leased to banks for ATM machines.
