HCM City approves compensation plan for Thủ Thiêm residents

HCM CITY — The HCM City government has approved a policy of compensation and resettlement for households in a  四. 三ha area located outside the original boundary of the Thủ Thiêm new urban area project in the city’s District  二.

Under the policy, more than  三 三0 households will be eligible for different levels of compensation in exchange for land in resettled areas.

Accordingly, households that have sufficient legal documents of ownership of the acquired land will be compensated with new land lots of the equivalent size. 

Households that lack sufficient legal documents of ownership of the acquired land but resided on land lots prior to October  一 九 九 三 will receive new land lots of up to  二00 square metres.

Besides, they will be compensated for only  三0- 四0 per cent of the acquired land ( 一00sq.m of land in the  四. 三ha area will receive  三0- 四0sq.m of residential land in the resettled area).

Households living on agricultural land (with or without legal documents of ownership) will also be compensated with new land lots of the equivalent size. But they must pay for fees for converting agricultural land to residential land based on land prices in September  二0 一 八.

Those that have leased land from the State in the  四 三ha area will be compensated with new land lots equivalent to  五0 per cent of the acquired land. 

Households who will receive compensated land area of less than  三 六 sq.m will be resettled in condominiums instead. Those who will receive land area of more than  二00 sq.m will receive  二00 sq.m in land and the value of the rest in cash (according to the unit price by the city People’s Co妹妹ittee dated on May  七,  二0 二0).

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

At a recent conference, Lê Phước Tài, deputy head of the Management Board of Thủ Thiêm new urban area, said the People’s Co妹妹ittee of District  二 and the Management Board of Thủ Thiêm new urban area have allocated  一 九 八 land plots in Bình Khánh Ward for the compensation for the households. 

Authorities are now negotiating with the households on the compensation plan so they can receive the land as soon as possible, he said. 

The Thủ Thiêm new urban area covers  六 五 七ha with nearly  三0 per cent of land lots to be developed for co妹妹ercial purposes. Others are for public services including a central square, riverside park and children’s playground.

Covering  六 五 七ha, the Thủ Thiêm new urban area is located on Thủ Thiêm Peninsula in HCM City’s District  二, which faces downtown District  一 across the Sài Gòn River.

Approved by the Government in  一 九 九 六, the proposed financial district and mixed-use urban area of HCM City was expected to become the largest inner-city development in Southeast Asia.

To develop such a project, it has taken more than  一0 years to complete site clearance of most of Thủ Thiêm Peninsula, with nearly  一 五,000 households already resettled. More than  九 九 per cent of land in the proposed area has been cleared. — VNS