Ha Noi plans to promote auctions of land use rights from now until 2020 to make effective use of land funds and meet the increasing demand of businesses and people.

The move is expected to increase the local budget and create more capital sources for investment in building socio-technical infrastructure systems and implementing the national programme on developing new rural areas.

According to the plan of the municipal People’s Committee, the city hopes to collect over VND53.5 trillion (US$2.3 billion) for the budget from auctioning 677.31ha of land in 2018-20.

In 2018, some 193.41ha of land will be auctioned, raking in more than VND13.7 trillion.

In 2019, Ha Noi plans to auction nearly 197ha of land, earning over VND15.9 trillion.

Some 286.9ha of land will be auctioned in 2020, grossing over VND23.8 trillion.

The total expenses for land clearance and technical infrastructure construction between 2018 and 2020 are estimated at over VND17.5 trillion.

Ha Noi earned over VND7.9 trillion from auctioning land use rights last year, pushing the total revenue it earned from land up to VND37 trillion.

Land-related revenue, including land leases, land fees and land auctions, accounted for 15 per cent of the city’s total budget in 2017.

More than 1.53 million land plots, 98.74 per cent of which are in the city, have now been declared and certificated.

Certifications were granted to land users of over 196,000 land plots, the usage of which was declared for the first time last year.

In 2017, the municipal authorities approved over 2,000 projects on land eviction, land allocation, land lease or changes in land-use purpose. The projects covered a total area of nearly 8,000ha.

More than 700ha of rice, protected forests and special-use forests were shifted for other purposes, while over 300ha of service land were allocated to nearly 39,000 families for management and use. — VNS