Decree No. 101/2015/ND-CP dated October 20, 2015 of the Government on renovation and reconstruction of condominiums

Renovation or reconstruction of condominiums shall be conducted under projects

The renovation or reconstruction of condominiums shall be conducted under projects; reconstruction of individual condominiums (except independent ones) is prohibited to meet the requirements is the important contents prescribed at the Decree No. 101/2015/ND-CP dated October 20, 2015 of the Government on renovation and reconstruction of condominiums.

Accordingly, for each area with condominiums in need of renovation or reconstruction, one or more than one project may be carried out under the urban planning approved by competent agencies and in accordance with promulgated construction standards and regulations. In case projects have been approved but project owners fail to implement the projects after 12 months from the date of approval or implement the projects more than 24 months behind the approved schedule due to the project owners’ fault, provincial-level People’s Committees shall issue decisions to withdraw the projects for transfer to other project owners for implementation in accordance with the law.

Also in accordance with this Circular If the owner of an old condominium wishes to be resettled on the spot and his/her current apartment has two or more household registration books, he/she will have the preemptive right to buy additional apartments in the same location at the price agreed between him/her and the project owner. Real estate businesses acting as owners of projects on condominium renovation and reconstruction are exempted from land use levy, land rental and charge (if any) for change of use purposes for the entire land areas in the premises of the projects (including land areas permitted for use purpose change). Project owners may provide with free model designs and typical designs of houses as well as scientific and technical advances in construction and installation to reduce construction costs; to apply the self-execution form if qualified as prescribed by law.