Sanctions to be imposed when timeframe not met.
The Hanoi Department of Natural Resources and Environment has announced that land use right (LUR) certificates are to be issued within 20 days of applications being lodged instead of the previous 52 days, starting in January, 2015.
Organizations responsible for issuing land use right certificates to homebuyers will be fined up to VND1 billion ($47,000) if this is not done within the allotted time.
Homebuyers will have to pay VND510,000 ($23.8) for document verification and a fee of VND100,000 ($4.6) if they are an urban homebuyer or VND50,000 ($2.3) if they are a rural homebuyer.
Hanoi will also promote the pace of unfinished projects by creating the conditions necessary for developers to complete their projects as soon as possible.
In 2014 the Department issued about 40,500 land use right certificates but difficulties remain in collecting legal documents from projects. In some cases, developers, when handing over an apartment to purchasers, have violated land use regulations, making it problematic for homebuyers to complete their own documents for receiving a land use right certificate.