HCMC – Thu Duc City of HCMC has announced a compensation plan for 1,166 households affected by two sections of the Beltway No. 2 project in HCMC. The highest compensation rate is over VND111 million per square meter (sqm).
The project involves widening two sections. The first section is over 3.5 kilometers long, from Phu Huu Bridge to Vo Nguyen Giap Highway, while the second section covers about 2.5 kilometers from Vo Nguyen Giap to Pham Van Dong roads.
To execute this project, Thu Duc will take back around 61 hectares of land, with an estimated budget of about VND7.6 trillion for land clearance compensation and resettlement support.
The highest compensation rate is for land along the front of Pham Van Dong Street, reaching over VND111 million per sqm. For properties in alleyways along this street, compensation will range from VND46.9 million to VND78.5 million per sqm.
On streets such as Kha Van Can, Do Xuan Hop, Nguyen Van Ba, and Dang Van Bi, compensation rates exceed VND100 million per sqm. In smaller alleys on Road 22 and Road 147 in Phuoc Long B ward, compensation rates are over VND26 million per sqm.
Thu Duc plans to begin distributing compensation for the project at the start of December this year and aims to complete land handovers for the project by June of next year.
The city has allocated sufficient land and housing with complete infrastructure at relocation sites, including Dai Nhan, Dong Tang Long and Long Binh-Long Thanh My.
