Fresh regulations on land valuation released
VGP - The Government issued Decree 12/2024/ND-CP (Decree 12), dated February 5, 2024 to amend and supplement some articles of Decree 44/2014/ND-CP dated May 15, 2014 regulating land prices, and Decree 10/2023/ND-CP dated April 3, 2023 amended and supplemented some articles of decrees guiding the implementation of Land Law.
Decree 12 stipulates four land evaluation methods instead of the current five methods.
Accordingly, they are comparison method, income-based method, surplus-based method and land price adjustment coefficient method.
Under the new Land Law 2024, the land price list will be published on an annual basis with the first list applied from January 2026.
The provincial/municipal People's Committee shall propose to the provincial/municipal People's Council adjustment, amendments and supplements for the land price list, which will become effective the following year.
The natural resources and environment agency is responsible for assisting People's Committees at the same level in carrying out the determination of specific land prices./.