ASEAN KEY DESTINATIONS
Ha Noi monitors real estate projects
Ha Noi will re-examine and inspect real estate projects in the city until the end of May under a recent decision by the municipal People's Committee.
The inspectors will supervise more than 720 real estate projects with a total land area of more than 21, 940 hectares, focusing on organisations and enterprises who were allocated or leasing land in the city between January 1, 2009 and December 31, 2013.
Inspectors will also examine projects delayed by compensation disputes or land abandoned within 12 months of investors receiving the land. Projects lagging more than two years behind schedule and/or illegally transferred will also face greater scrutiny.
An inter-disciplinary inspection team has been established to clarify the obligations of investors and others involved in delayed projects.
According to the committee, the 720 real estate projects also include State-invested buildings including offices, hotels and cultural and social infrastructure.
Currently, there are 85 delayed projects in Tu Liem Disitrict, 56 in Long Bien and Cau Giay districts and about 60 in Hai Ba Trung and Hoang Mai districts. There are also around 40 postponed projects in Dong Da District, 30 in Ba Dinh District and 20 in Hoan Kiem and Tay Ho.
The move follows 925 inspections performed by the city between 200 and 2013, where more than 590 projects were found in violation of the Land Law and more than 290 projects lagged behind schedule. Around 100 projects were facing delays relating to financial obligations while the remaining delays were unexplained.
Investors for around 270 projects had put the land into use after receiving official warnings. Nearly 50 projects with a land mass of 1.795 hectares had their land use certificates revoked, while the rest are under investigation.
Former Deputy Minister of Natural Resources and Environment Dang Hung Vo said many enterprises failed to carry out their projects but ignored to return the allocated land. This was due to lax management by local authorities and weak regulations.
Vo said the State needed to impose higher taxes on delayed projects rather than issue warnings and wait for enterprises to return land.
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