Deputies looking to unlock realty market with new land use initiative

At the 15th National Assembly's eighth sitting (Photo: VNA)

Hanoi – Lawmakers are set to discuss at the hall a draft resolution on piloting commercial housing project through land use rights transfer agreements at the ongoing 15th National Assembly’s eighth session on November 21.

The proposed resolution aims to settle the current real estate market constraints as investors have faced significant barriers in land access while making contributions to ensuring the healthy and transparent development of the market.

It establishes several criteria for the development of the commercial housing projects, including alignment with land use planning at district level or local urban area planning. Developers must secure mandatory approval from the provincial People’s Committees, Ministry of National Defence and Ministry of Public Security for land use transfer, particularly projects involving defence and security-related land.

The deputies will also delve into a draft resolution on special mechanisms and policies to remove bottlenecks and legal complications affecting land and development projects in Ho Chi Minh City, Da Nang city and Khanh Hoa province.

In the afternoon, they will vote to adopt the law amending and supplementing several articles to the Law on Pharmacy before deliberating on the establishment of Hue as a centrally-run city and drafting a resolution on the urban governance structure in Hai Phong city./.