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| MONRE proposes pilot mechanism for use of non-residential land to implement commercial housing projects within five years from 2025__Photo: VNA |
Real estate businesses would be permitted to implement commercial housing projects on non-residential land if they currently possess or have acquired land-use rights and meet law-prescribed conditions for land repurposing.
Such regulations would be implemented on a pilot basis within five years from 2025, according to a draft resolution of the National Assembly prepared by the Ministry of Natural Resources and Environment (MONRE).
Particularly, acquisition of land-use rights might take the form of transfer of land-use rights, contribution of land-use rights as capital, or donation of land-use rights.
To be granted permission for land repurposing, commercial housing projects must align with provincial master plans, district-level land-use master plans or urban construction master plans. Furthermore, such projects must be included in approved local programs and plans on housing development, and real estate businesses must obtain provincial-level People’s Committees’ consent to the agreements on acquisition of land-use rights they sign with current land users.
The MONRE proposes that the number of projects to be implemented under the pilot mechanism would not exceed 30 percent of the total number of projects, and the total land areas allocated for these projects would not surpass 20 percent of the areas specified in approved programs and plans on housing development by 2030.- (VLLF)
