New law prevents housing developers - VIETTRA HOUSINGVIETTRA HOUSING

Online Support 24/24h

  • PHONE: 0912.014.670 (Japanese)
  • PHONE: 094.243.9669 (English)
    OFFICE: 0243.6629.065 - Ext 106
  • Send us your order. We return with quotation and pictures within 1 hour.
  • Email :info@viettra.com
New law prevents housing developers
Posted on: December 23rd, 2015 by admin

New law prevents housing developers

PURSUANT TO A NEW REGULATION OF THE AMENDED LAW ON HOUSING, HOUSING DEVELOPERS WILL HAVE THEIR PROPERTY OR BANK ACCOUNTS FROZEN IF THEY DELAY TRANSFERRING MAINTENANCE FEES OF APARTMENT BUILDINGS TO RESIDENTS’ COMMITTEES.

Owner of an apartment has to pay an extra 2% of the total sale price for maintenance activities inside the building. Under the amended Law on Housing approved last year, maintenance fees collected by housing developers must be transferred to the residents’ committees no later than 7 days after the committees are formed.

According to statistics of Ministry of Construction, however, only 20% of developers in 200 apartment projects around Hanoi had passed on the fees to residents’ committees.


Only 20% of developers in 200 apartment projects around Hanoi
had passed on the fees to residents’ committees. 

Dang Trong Hieu – Head of the residents’ committee in apartment project Sky City in Hanoi’s Dong Da District said they had not received maintenance funds of VND30 billion from the developer, although the building has been put into operation for 5 years. Residents of Sky City have been worried as they did not have money to maintain the building.

Residents living in block N05 of Trung Hoa-Nhan Chinh urban area also face the same issue. Developer has delayed transferring nearly VND70 billion in maintenance funds to residents’ committee.

Meanwhile, in project Rainbow Van Quan in Ha Dong District, its developer BIC Vietnam JSC has refused to hand over the maintenance fund to residents’ committee. The firm said members of the residents’ committee were not qualified to maintain the building properly. Instead, BIC Vietnam JSC wanted to refund these maintenance fees to owners of apartments.

Under the amended Housing Law, taking effect since this July, residents’ committee should be voted by the residents to manage, operate and maintain apartment buildings.

According to economist Vu Dinh Anh, stronger measures are needed when housing developers were unable to return the maintenance fund.

However, in cases where the developer went missing or bankrupt, it became impossible. Government should find out ways to stop housing developers from delaying transfers of maintenance fees.

Nguyen Quoc Hiep – Head of the Vietnam Construction Management and Maintenance Association said that bank accounts that held the fees should include one person representing the developers and two members of residents’ committees to prevent risks, especially in cases where committee members sold their apartments or no longer lived there. He added that this move would also help ensure the effective use of the maintenance fund for apartment buildings.

Related Post

quotation of japan television package
customer appeciation
© VIETTRA HOUSING COMPANY
Address:Room Room 1401, 130 Building
Nguyen Duc Canh st- Hanoi, Vietnam
Phone number: 02432.000.652 – 02436.629.065 - Ext 103
Hotline: 0912.014.670

Email: info@viettra.com
Website: http://viettra.com/ - http://viettrahousing.com/
Connection : Apartment for rent - Car rental