HANOI DEPARTMENT OF JUSTICE
TLK LAW FIRM

On June 27, 2024, the government has just issued Decree No.71/2024/ ND-CP regulating land prices, effective from the effective date of the Land Law No. 31/2024/QH15.

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Factors affecting land prices according to Decree 71/2024/ND-CP

Photo 1: Factors affecting land prices according to Decree 71/2024/ND-CP_Hotline: 0972118764  

According to the provisions of Decree 71/2024/ND-CP, the factors affecting land prices are as follows: 

- Factors affecting land prices for non-agricultural land, including: 

+ Location and location of the land plot or land plot; 

+ Traffic conditions: width and structure of the road surface, adjacent to 01 or more road surfaces; 

+ Conditions on water supply and drainage, electricity supply; 

+ Area, size and shape of the land plot or land area; 

+ Factors related to the construction planning, including: land use coefficient, construction density, construction limits, limits on the height of construction works, limits on the number of basements to be built according to the detailed construction planning approved by competent state agencies (if any); 

+ The current state of environment and security; 

+ Land use term;

+ Other factors affecting land prices in accordance with the actual conditions, cultural traditions, customs and practices of the locality.

- Factors affecting land prices for agricultural land, including: 

+ Yield of crops and livestock; 

+ Location and characteristics of the land plot and land area: the nearest distance to the place of production and consumption of products; 

+ Traffic conditions in service of product production and consumption: road width, grade, road surface structure; topographic conditions; 

+ The land use term, except for agricultural land allocated by the State to households and individuals according to the agricultural land allocation quota, agricultural land within the quota for receiving the right to be transferred, shall not be based on the land use term; 

+ Other factors affecting land prices in accordance with local reality, cultural traditions, customs and practices.

- The Department of Natural Resources and Environment shall assume the prime responsibility for, and coordinate with relevant departments and branches in, advising and submitting to the provincial-level People's Committee to specify the factors affecting the land price, the maximum difference of each factor affecting the land price in order to determine the level in a certain amount. how to adjust for each degree of difference of each factor affecting land prices. 

In case the provincial-level People's Committee has not yet stipulated or there is a lack of regulations on factors affecting land prices, the maximum difference of each factor affecting land prices, and the method of adjustment for each level of difference of each factor affecting land prices, the organization of land valuation shall be specifically proposed in the theoretical report formulate a land price plan for the Land Price Appraisal Council to consider and settle.

In addition, the Decree also clearly states the responsibilities of agencies and units in providing information. Accordingly, agencies, organizations and units assigned to manage, exploit and use information sources specified at Point b, Clause 2, Article 4 and Point b, Clause 1, Article 5 of this Decree shall be responsible for providing information to serve the land valuation in writing or electronically within 05 working days from the date of receipt of the a written request of the land valuation organization. 

Thus, depending on each type of agricultural or non-agricultural land, there are different factors affecting land prices, specifically as TLK has just analyzed above. 

Decree 71/2024/ND-CP takes effect from January 1, 2025, except for Article 37 of Decree 71/2024/ND-CP which takes effect from June 27, 2024.

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Factors affecting land prices according to Decree 71/2024/ND-CP

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