Social housing sold wrongly in HCMC will be revoked

Social housing sold wrongly in HCMC will be revoked

After trying any way possible to buy social homes, some buyers have rented or sold their homes for money instead of staying there.
03:00, 30/04/2019

This is the situation happening at First Home Thanh Loc project, located in District 12, Ho Chi Minh City. The residential project is developed by Gia Phu Cooperative.

Ho Chi Minh City’s Department of Construction recently issued a document asking the developer to recall apartments which were sold to the wrong people.

In 2013, First Home Thanh Loc was said to be the first residential project in Ho Chi Minh City for low-income people. The project's products aim to bring accommodation for members of cooperatives and low-income earners in the city.

A corner of First Home Thanh Loc social housing project.

A corner of First Home Thanh Loc social housing project.

Developed with an amount of up to VND 202 billion, on an area of 5,000 sqm, the project consists of 14 floors, 1 basement, with apartments under Korean standards. Each unit has an area of about 43-61 sqm, priced from VND 380 million to over VND 600 million.

However, this project has encountered many scandals in the implementation process as well as handover progress.

The wrong purchase activities at the project were only discovered by Ho Chi Minh City Department of Construction when holding a meeting on the issuance of land use right certificates, ownership of houses and assets attached to land for residents in the project at the end of March 2019.

Immediately, the Department of Construction asked the developer and the building’s Management Board to quickly terminate the wrong sales contracts at the project.

Also according to the Department of Construction, this is a violation of the regulations in Decree 100/2015 / ND-CP that says owner of a social apartment is not allowed to rent or sell it in the first 5 years since the handover.

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