HCMC – HCMC has proposed new land price adjustment coefficients that would raise the value of land on its prime downtown streets to more than VND950 million per square meter from July 1.
The city’s Department of Agriculture and Environment is seeking public feedback on the draft regulation governing land price adjustment coefficients, known as K coefficients.
The coefficients would be used to calculate land-related financial obligations, including land use fees, land rents, starting prices for land-use rights auctions, taxes, charges, and compensation when the State acquires land.
Under the proposal, coefficients would apply to 168 wards, communes, and special zones across the city. Separate rates would be assigned to agricultural and non-agricultural land depending on location and road frontage.
For residential land, the coefficients would range from 1 to 2.59 times the official land price schedule. Agricultural land would be subject to coefficients ranging from 1 to 10.56 times.
The city’s three highest-valued streets—Le Loi, Nguyen Hue and Dong Khoi—would be assigned a coefficient of 1.39. Based on the current official land price of VND687.2 million per square meter, the adjusted value used to calculate financial obligations would exceed VND950 million per square meter.
Some agricultural land in rapidly urbanizing areas would see higher adjustments. In Tan Vinh Loc Commune, formerly part of Binh Chanh District, the proposed coefficients exceed 10 in some locations. The highest proposed coefficient, 10.56, would apply to certain locations in Ho Tram Commune.
In the Con Dao Special Zone, the coefficient for non-agricultural land would be 2.21, while agricultural land would be subject to coefficients ranging from more than four to over eight times, depending on location.
The proposal would keep the coefficient at 1.0 for commercial-service land and non-agricultural production and business land in the Saigon Hi-Tech Park, meaning land value would continue to follow the current land price schedule.
The draft also introduces planning-based adjustment factors for land plots with high construction density.
Applications approved or notified of financial obligations before the new regulation takes effect would continue to be processed under existing rules.
