HCM City People’s Committee has issued the decision 7623-QD/UBND and the decision 7624-QD/UBND amending some insufficient points to break the ice of real estate.
Under Decision 7623, the city will remove the control of 10% of land fund or 20% of house fund at house trading projects to resell to the city under the instruction 07. The city encourages projects of creating land fund for houses for low income people. The city will help businesses in filling procedures of withdrawing land, paying compensation for land clearance.
For trading house projects whose land allocated on April 23 2003, the HCM City People’s Committee requested investors to put aside 10% of land fund and 20% of house fund to resell to the city at a price equal to that of resettle houses under instruction 24.
The Decision 7624 has agreed in principle to allow the project transference when having enough conditions.