The Provincial People's Committee promulgates the land price adjustment coefficient (K) to calculate land rent in Hung Yen province in 2023

Published on 08 - 02 - 2023
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On 06/02/2023, the Provincial People's Committee issued the Decision No. 222/QD-UBND on promulgating the land price adjustment coefficient (K) to calculate land rent in Hung Yen province in 2023.

According to the Decision, promulgating the land price adjustment coefficient (K) = 1.0 to calculate the land rent in Hung Yen province in 2023 for the following cases: To determine the land rental unit price to be paid for annual land rent for the period of stabilization of the first land rental unit for projects that lease land used for commercial business, service, real estate, or mineral extraction with the value of the leased land plot under VND 20 billion based on the land price in the Land Price List prescribed by the Provincial People's Committee and other land lease projects, excluding the case of leasing land used for commercial business, services, real estate, mineral extraction. To determine the land rental unit price with annual land rental payment for the period of stability of the next land rental unit price.

The cases in which specific land price determinated by the land price adjustment coefficient (K) method is not applicable:

- To determine the land rental unit price with annual land rental payment for the period of stability of the first land rental unit price in case the land is leased and used for commercial business, services, real estate, or mining purposes with the value of the leased land plot is from 20 billion VND or more calculated according to the land price in the Land Price List prescribed by the Provincial People's Committee.

- To determine the land rental unit price with one-off payment of land rent for the entire lease period not through auction.

- To determine the land rental unit price when switching from the form of land lease with annual land rental payment to the form of land lease with one-off rental payment for the entire lease period as prescribed in Clause 2, Article 172 of the Land Law.

- To determine the land rental unit price when receiving the transfer of assets attached to the leased land according to the provisions of Clause 3, Article 189 of the Land Law.

- To determine the land rental unit price with annual land rental payment and the land rental unit price with one-off rental payment for the entire lease period upon the equitization of State-owned enterprises.

- To determine the starting price in the auction of land use rights for lease in the form of annual land lease and land lease with one-off rental payment for the entire lease period.

- In cases that the specific land price determinated by the land price adjustment coefficient method (K) is not applicable, the land price must not be lower than the one determined by the adjustment coefficient method (K) = 1, 0.

When the land price fluctuates up or down suddenly, the land price applied by the land price adjustment coefficient method (K) is not suitable. The Department of Finance is asigned to advise the Provincial People's Committee to adjust the land price adjustment coefficient (K) accordingly after reaching agreement with the Standing members of the Provincial People's Council.

 

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