"Golden land" area worth over 451 billion VND, exceeding the starting price by nearly 100 million VND

Thanh Hoa Provincial People's Committee has decided to recognize the auction results of the right to use commercial service land in the Southern Urban Area of Thanh Hoa City, in Quang Thanh Ward (Thanh Hoa City).

The winning bidder is the Central South City Two-Member LLC (located in Quang Thanh Ward, Thanh Hoa City), with Mr. Le Thanh Hai as General Director. The total winning bid is over 451.4 billion VND.

The auctioned land has an area of nearly 10.55 hectares. Thanh Hoa City People's Committee has organized land recovery, approved the compensation plan, supported site clearance and completed compensation and support site clearance.

The land is leased by the State for a term of 50 years, the rent is collected once, the purpose of use is commercial service land.

Khu đất vàng hơn 451 tỷ đồng, vượt giá khởi điểm gần 100 triệu đồng - 1 — The "golden land" area in the Southern Urban Area of Thanh Hoa city was auctioned by a business for more than 451.4 billion VND (Photo: Thu Thuy).

Regarding location and technical infrastructure, the auctioned land has one side adjacent to Hung Vuong Avenue (North-South Avenue), one side adjacent to the completed Eastern route, ensuring that the auction winner can deploy construction investment.

According to the auction winning decision, Thanh Hoa City People's Committee is fully responsible before the law, Thanh Hoa Provincial People's Committee and inspection, examination and auditing agencies, relevant agencies for the order and procedures for selecting and signing contracts with auction organizations, auction organization process, auction results, accuracy of data, and content of the request for recognition of the auction winning results of land use rights for the above land plot.

The Department of Justice is fully responsible before the law, the People's Committee of Thanh Hoa province and inspection, examination and auditing agencies, and relevant agencies for the accuracy of the results of the review of the order and procedures for organizing the auction and recognizing the results of the auction of land use rights.

The Department of Natural Resources and Environment shall preside over and coordinate with the People's Committee of Thanh Hoa City, the People's Committee of Quang Thanh Ward and relevant units to organize the handover of land on the field, and direct relevant units to correct the cadastral database and cadastral records according to regulations.

The Central South City Two-Member Company Limited declares and submits documents to determine financial obligations to the Department of Natural Resources and Environment; complies with regulations on paying auction winning money (land rent), paying money to protect and develop rice-growing land and commitments when participating in the auction of land use rights, and other related obligations as prescribed.

In addition, the winning bidder must fully complete the documents and procedures on investment, construction, environmental protection, and land use related to the auctioned land; construction may only be carried out after completing the documents and procedures.

Carry out investment in construction of works on land in accordance with the planning and construction progress approved by the competent authority. After the deadline for payment as prescribed by the People's Committee of Thanh Hoa province, the auction winner is not allowed to pay money to the State budget, the Thanh Hoa Provincial Tax Department will not collect and account for the amount (if any) paid by the auction winner for land use rights.

Previously, on December 1, 2013, the Chairman of Thanh Hoa Provincial People's Committee decided that the starting price for auctioning land use rights for the above land plot was more than 451.3 billion VND.

Thus, the winning bid amount is only about 100 million VND different from the original starting price.

Source