HCM City (VNS/VNA) – HoChi Minh City’s administration has approved a policy of compensationand resettlement for households in a 4.3ha area located outsidethe original boundary of the Thu Thiem new urban area project in thecity’s District 2.

Under the policy, morethan 330 households will be eligible for different levels of compensationin exchange for land in resettled areas.

Accordingly, households thathave sufficient legal documents of ownership of the acquired land will becompensated with new land lots of the equivalent size. 

Households thatlack sufficient legal documents of ownership of the acquired land butresided on land lots prior to October 1993 will receive new land lots of up to200 square metres.

Besides, they will be compensatedfor only 30-40 percent of the acquired land (100sq.m of land in the 4.3haarea will receive 30-40sq.m of residential land in theresettled area).

Households livingon agricultural land (with or without legal documents ofownership) will also be compensated with new land lots of the equivalentsize. But they must pay for fees for convertingagricultural land to residential land based on land prices inSeptember 2018.

Those that have leased landfrom the State in the 43ha area will be compensated with new land lotsequivalent to 50 percent of the acquired land. 

Households whowill receive compensated land area of less than 36 sq.m will beresettled in condominiums instead. Those who will receiveland area of more than 200 sq.m will receive 200 sq.m in landand the value of the rest in cash (according to the unit price by the cityPeople’s Committee dated on May 7, 2020).

In addition to thecompensation, the affected households will also be provided with financialsupport for construction on new land, transport costs and other items. 

At a recent conference, LePhuoc Tai, deputy head of the Management Board of Thu Thiem new urban area,said the People’s Committee of District 2 and the Management Board of Thu Thiem new urban areahave allocated 198 land plots in Binh Khanh Ward for the compensation forthe households. 

Authorities are now negotiatingwith the households on the compensation plan so they can receive the landas soon as possible, he said. 

The Thu Thiem newurban area covers 657ha with nearly 30 percent of land lots to bedeveloped for commercial purposes. Others are for public servicesincluding a central square, riverside park and children’s playground.

Covering 657ha, the ThuThiem new urban area is located on Thu Thiem Peninsula in HCMCity’s District 2, which faces downtown District 1 across the Sai Gon River.

Approved by the Government in1996, the proposed financial district and mixed-use urban area of HCM City wasexpected to become the largest inner-city development in Southeast Asia.

To develop such a project, ithas taken more than 10 years to complete site clearance of most of ThuThiem Peninsula, with nearly 15,000 households alreadyresettled. More than 99 percent of land in the proposed area has beencleared./.