Conference to collect comments on the draft Law on Real Estate Business (amended)

On October 17, the National Assembly Delegation of the province held a conference to collect comments on the draft Law on Real Estate Business (amended). Comrade Dang Thi My Huong, Deputy Head of the National Assembly Delegation of the province chaired the conference.

The Draft Law on Real Estate Business (amended) consists of 10 chapters and 83 articles, regulating real estate business, rights and obligations of organizations and individuals doing real estate business, and state management of real estate business.

At the conference, delegates from departments, agencies and sectors agreed with the contents of the draft law and made many specific comments to contribute to the development of a more complete draft law. Regarding the content in Article 23, choose option 1: “Real estate project investors are only allowed to collect deposits according to the agreement with customers when the project has a basic design appraised by a state agency and the investor has one of the documents on land use rights specified in Clause 2, Article 24 of this Law. The deposit agreement must clearly state the selling price, lease-purchase price of housing and construction works. The maximum deposit amount is according to Government regulations but does not exceed 10% of the selling price, lease-purchase price of housing and construction works, ensuring compliance with socio -economic development conditions in each period and each type of real estate”.

Comrade Dang Thi My Huong, Deputy Head of the Provincial National Assembly Delegation, spoke at the conference to collect comments on the Draft Law on Real Estate Business (amended). Photo: P.Binh

In Article 25, choose option 3: “If the buyer or the lessee has not been granted a certificate of land use rights, house ownership rights and other assets attached to the land, the seller, lessor or buyer shall not collect more than 5% of the contract value; the remaining value of the contract shall be paid when the competent authority and state have granted the certificate of land use rights, house ownership rights and other assets attached to the land to the buyer or lessee.”

Regarding point 3, clause 3, Article 14 "Construction works must be built on land with the form of land use allocated by the State or leased land with one-time payment for the entire lease term", it is recommended to review this content for the draft Land Law to ensure consistency between the two laws (the Land Law stipulates one-time payment and annual payment).

Regarding Clause 3, Article 9, individuals doing real estate business on a small scale do not have to establish a real estate business enterprise but must declare and pay taxes according to the law. Such a provision is not feasible, because small-scale business people will not declare and pay taxes themselves but will only think that they are hoarding assets. It is recommended to clarify the content of the provision in this clause to ensure feasibility.

Speaking at the conference, Comrade Dang Thi My Huong, Deputy Head of the Provincial National Assembly Delegation, highly appreciated the opinions that the delegates contributed to the draft Law, and agreed to synthesize the opinions of representatives, departments, and branches to complete the draft Law with high quality. At the same time, she requested that agencies and units continue to study and send their opinions to the Provincial National Assembly Delegation for synthesis.

Phan Binh

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